All The Way Down

By J, on February 21st, 2009

wallstreet.jpg Wall Street image by champion_thunder

The ongoings at Wall Street has been driving me crazy. I’m sure I’m not the only one that feels the same way. Bank stocks and other financial institutions have been down and it is not really new to us anymore, but yesterday’s closing price of those stocks were really downright unbelievable! Yes, I’m not hiding that we are heavily invested on some of them, and that I wished we have gotten out of them early on, but we are stuck. The only consolation we have is that, the retirement accounts although, they are getting a beating too, our exposure is only 7%.

If my husband is about to retire, no matter how much exposure we are in, it would have been a really dim scenario. Great thing, he is far from retiring and we are hoping these investments will bounce back. Speculations of bank nationalization is all over the financial world. If this happens, this will wipe us out of these investments.

If only I was not as stubborn… This time, I’m to blame because I was given by my husband the free reign to monitor and decide on these investments. It would have been better using the money elsewhere, an RV, perhaps? Then, we would be only concerned on finding the best rv parks around town and not worrying about what’s to happen next.

Oh well, we live to learn.

Juliana/Tuks

February 21, 2009 at 8:57 pm

Hey Tuks…pagaling ka ulit! Ano ba yang sniffles mo at ayaw kang iwanan.

Here’s wishing your Sunday will be sniffles-free…

Tukss last blog post..For My Future

Dorothy L

February 22, 2009 at 1:56 pm

Hello…
I am sorry to hear about your losses. I have many friends in USA and in Canada that have lost anywhere from 3-5 million dollars.
These are not people born into wealth….these friends have worked almost their entire lives building their small fortune only to have it stolen right out from under them with no remorse from the thieves!
It is funny how we must pay for money earned but we get nothing returned on the monies lost.

gain I am sorry for your losses.
I hope that the future will bring some light to our somewhat gloomy world right now.
Have a very nice day!

juliana

February 22, 2009 at 9:59 pm

@ Juliana

The sniffles did not leave me, but I’m dealing with it hehe. may kasama pa ngang headache.

February 22, 2009 at 10:03 pm

@ Dorothy L

thanks for your concern Dorothy. I really appreciate it.

yes, everything is gloomy right now, but this too shall pass. besides, we are glad that at least whatever monies that were lost have that little chance of rebounding, if Wall Street ever gets the chance to come back. after all, these investments are losses on papers for now. it’s a different story if you need the money now and it’s the only money we have.

thanks for dropping by.