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Started By
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re: What's the worst financial mistake you've ever made?
Posted on 4/25/19 at 8:41 am to GetCocky11
Posted on 4/25/19 at 8:41 am to GetCocky11
Marrying Mr. CT. Still paying for it 25 years later.
1
Posted on 4/25/19 at 8:42 am to GetCocky11
'74 z/28. Sure was pretty on that showroom floor. Three years later it was a rust bucket on 4 wheels.
Posted on 4/25/19 at 8:42 am to Jim Rockford
quote:
As a poor college student I had a chance to take my life savings (about $5,000) and buy some Crystal Oil stock in bankruptcy for 3 cents a share. I declined. A couple of years later Apache bought them out for $32 a share. Would have netted me over half a million.
One of us has our decimal places fricked up because that looks like over 5 million to me baw.
ETA: if you had 5k you were not a fricking poor college student. I made withdrawals in college that left me with the minimum allowed by the bank
This post was edited on 4/25/19 at 8:44 am
Posted on 4/25/19 at 8:44 am to rondo
You right. No coffee this morning 
Posted on 4/25/19 at 8:45 am to Jim Rockford
hopefully you're a little more sad about the whole thing now.
Posted on 4/25/19 at 8:48 am to slackster
Racking up $20K in credit card debt and not telling my wife about it.
Still married and debt was paid up in about 9 months
Still married and debt was paid up in about 9 months
Posted on 4/25/19 at 8:48 am to GetCocky11
Started first business. Took out a large amount loans yet had zero fricking clue how to run it. Ended up filing bankruptcy at 24. Took years to get my credit somewhat good after that. Still working on it eight years later.
Though honestly..I learned a lot of hard lessons in that failure. Long term...wouldn't change it. Failure is a learning tool
Though honestly..I learned a lot of hard lessons in that failure. Long term...wouldn't change it. Failure is a learning tool
Posted on 4/25/19 at 8:50 am to GetCocky11
I sold a rental property to pay taxes on some ira’s I was converting to Roth. In about 18 months they plummeted- that was about 20 years ago. It took about 3-5 years for them to recover
Posted on 4/25/19 at 8:52 am to GetCocky11
Vehicles, always vehicles
Posted on 4/25/19 at 8:53 am to Gorilla Ball
Bought Washington Mutual stock during the crash thinking there is no way they will let it fail. Sold it for pennies.
Posted on 4/25/19 at 8:59 am to rondo
quote:
Not buying Bitcoins for $25 in 2011 when I had the chance.
Not investing in something is not a mistake. If it were then every human on the planet has made mistakes like not buying Apple in 1988 or not buying Facebook.
A mistake is something you do.
This post was edited on 4/25/19 at 9:13 am
Posted on 4/25/19 at 9:00 am to GetCocky11
Trying Full Sail online for a year and it not sticking.
Posted on 4/25/19 at 9:00 am to GetCocky11
Leased an Audi once. frick that noise, never again.
Posted on 4/25/19 at 9:02 am to GetCocky11
Tried to get a PhD and let my wife take a new job as a preschool teacher. My $20k/year stipend plus her $10k/year “salary” (hey! Free childcare!) wasn’t going to cut it.
But that wasn’t the end of it: instead of sticking it out or asking her to go back to regular teaching, we bailed with no jobs and lived with my parents for 9 months.
Terrible.
But that wasn’t the end of it: instead of sticking it out or asking her to go back to regular teaching, we bailed with no jobs and lived with my parents for 9 months.
Terrible.
Posted on 4/25/19 at 9:03 am to LNCHBOX
quote:
This. I got a good degree with them at least, and paid them off after 5 years.
But that financial decision is the only real do-over I'd like.
I'm about to pay mine off this August after 6 years.
Posted on 4/25/19 at 9:03 am to ChenierauTigre
Probably drinking heavily. No telling how much money I went through.
Some of it was worth it, not all.
Some of it was worth it, not all.
Posted on 4/25/19 at 9:06 am to GetCocky11
1. Bought a Ford.
2. Lived in Louisiana.
2. Lived in Louisiana.
Posted on 4/25/19 at 9:06 am to Caplewood
This reminds me of the old days when atm's took a while to send/get info from the banks. More than once we would withdraw all available cash from our accounts, stop at the next atm and do the same. Basically, a cash advance from the bank, minus the overdraw fee.
Paycheck gets deposited the next day and would be gone immediately to cover the withdraws.
Paycheck gets deposited the next day and would be gone immediately to cover the withdraws.
Posted on 4/25/19 at 9:06 am to SEClint
quote:
She was blonde with blue eyes, 5'2" and about 105 pounds in 2014-15
Yeah I did that too, 2015-2016.
5'1". A net lo$$ but also many life lessons.
My story.
Invested in sisters restaurant. That was expected of me. Pressured by other family members.
It went down the rat hole sooooo fast.
I had seen when my uncle asked to borrow dad's $75k in 1948. That was 100% of dad's cash. Said no. Uncle stopped talking to him.
And succeeded anyway.
Also saw grandfather lose it over unwritten expectations with my dad (sil) around investment and re-payments.
Money and family is tricky.
I would stay out of it if I could.
This post was edited on 4/25/19 at 9:08 am
Posted on 4/25/19 at 9:12 am to GetCocky11
Gave my buddy 6 bitcoins for a half ounce of primo grass back when they were only worth about $20/pop.
Dude sold them last year for about $58k
Dude sold them last year for about $58k
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