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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 10:26 am to Gabriel Susan Lewis
Posted on 4/25/19 at 10:26 am to Gabriel Susan Lewis
quote:
Invested in oil futures
On a similar note, I got carried away a few years ago trading 3x long/short natural gas ETFs during the winter, and using margin to boot. I'm reminded of that mistake every year since, $3000 at a time.
2
Posted on 4/25/19 at 10:27 am to Tigeralum2008
quote:
Lost my arse buying a shitty vehicle, GMC Terrain
My wife talked me into buying her a Terrain. What a piece of shite, 60k miles 5 major repairs
Posted on 4/25/19 at 10:27 am to GetCocky11
I played ragnarok online from its beta years through its prime and tail end. I sold an item, specifically an "eddga card", for $2500, but the guy initially offered me 3k in bitcoin
At the time it was maybe $2/coin. It's worth 7.5mil right now.
At the time it was maybe $2/coin. It's worth 7.5mil right now.
This post was edited on 4/25/19 at 11:40 am
Posted on 4/25/19 at 10:27 am to SeeeeK
quote:
Had friends who were in corporate branch of President Casino, stock was sitting around .40 and they told me they were about to close in on a casino license in Pittsburgh.
I was going to dump 25K of 401k into it. It went all the way to $5ish. Guy with merrill lynch(handled our 401k) talked me out of it.
Congrats on avoiding a felony.
Posted on 4/25/19 at 10:28 am to GetCocky11
Getting a credit card when I was to young and stupid to have one.
Posted on 4/25/19 at 10:28 am to GetCocky11
Bought a bar/restaurant when I was young and stupid and thought I knew what I was doing. Still regret that decision to this day.
Posted on 4/25/19 at 10:30 am to yaboidarrell
quote:
Bought a house on the westbank instead of a similar house in Mid-City two years after Katrina.
Yeah I was debating if my house purchase was my worst but nearly ruining my career trumped it.
We bought a house in a distant, lame suburb of Birmingham (like the Waggaman of New Orleans) in 2008 because it was a nice flipped house for a great price. Then the housing market went to hell and the area never fully recovered. Bought for $179k in 2008 and sold for $172k in 2018. Maintenance issues hit like crazy when we got renters in the house.
Buddy of mine bought closer to the city at a price range that seemed high IMO for his salary. But without kids he made it work and sold after three years (in 2017) for a $50k profit.
Posted on 4/25/19 at 10:31 am to GetCocky11
Not getting serious about making changes when my wife lost her job after our first kid was born. Some of you have heard this story but my wife got notice she was being let go with two weeks left on maternity leave on 1/9/12. (Yes THAT 1/9/12). We were not in a position to go down to single income, our insurance was through her, my insurance was crap, etc. Part of it was pride in not wanting people to know we were struggling, part of it was a little bit of depression. But we went deeply into debt and things got very very close to being near the proverbial fiscal cliff before we reversed course. It’s taken the better part of 5 years and a lot of good fortune and hard work to recover.
I don’t begrudge anyone for going through hard times. There’s nothing fun about it and there is no bigger feeling of hopelessness than not knowing how you are going to get by.
I don’t begrudge anyone for going through hard times. There’s nothing fun about it and there is no bigger feeling of hopelessness than not knowing how you are going to get by.
Posted on 4/25/19 at 10:31 am to Choctaw
quote:
Bought a bar/restaurant when I was young and stupid and thought I knew what I was doing. Still regret that decision to this day.
2 bad you didn't write a story on it. I'd love to read or hear about how it started, middle, and the ending. I always wanted to open a bar/pub grub, but knew others who owned them and were hangin on for dear life, every year.
Posted on 4/25/19 at 10:33 am to GetCocky11
I bought 500 Joe Charboneau rookie cards. I just knew they would pay for my kid’s college education one day. I still cry about it at night.
This post was edited on 4/25/19 at 10:35 am
Posted on 4/25/19 at 10:34 am to GetCocky11
Not driving at maximum speed everywhere to save on gas.
Posted on 4/25/19 at 10:37 am to TheFonz
quote:
I bought 500 Joe Charboneau rookie cards. I just knew they would pay for my kid’s college education one day.
Knew a guy who bought close to 500ish of Magic Johnson rookie cards, thinking the Aids would be the death of him. I'm shocked he didn't off himself at the beating he took.
Posted on 4/25/19 at 10:42 am to Wally Sparks
I am with you. Student loans. I'll be paying them bitches till i die.
Posted on 4/25/19 at 10:46 am to GetCocky11
Bought too much house.
Posted on 4/25/19 at 10:46 am to SeeeeK
quote:
1. Had friends who were in corporate branch of President Casino, stock was sitting around .40 and they told me they were about to close in on a casino license in Pittsburgh.
I was going to dump 25K of 401k into it. It went all the way to $5ish. Guy with merrill lynch(handled our 401k) talked me out of it
And you're upset?
Posted on 4/25/19 at 10:52 am to slackster
quote:
And you're upset?
yes, i would of had 25K worth of stock at .40, and would of cashed out at $5(into 401k). Why wouldn't i be upset with that
I never listen to people on that shite, and i let some moron in a suit, who years later were giving Enron as a buy to people.
Posted on 4/25/19 at 10:57 am to member12
quote:
1. Bought a Ford.
2. Lived in Louisiana.
Should put a tune to that, baw. Guaranteed crowd pleaser at the next Bo Fest.
Posted on 4/25/19 at 10:58 am to GetCocky11
Saying “I do” to my first wife
Posted on 4/25/19 at 10:58 am to GetCocky11
divorce
Posted on 4/25/19 at 10:58 am to GetCocky11
super bowl xlix
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