Money Woes

[ginzokid]

My tollerance for stress in the stock market has reached its end. I just put in an order to sell off all my mutual fund and stock investments. After losing over $10,000 in a week I can't stand it anymore. I'm investing in the First National Matress. It may not sound like a lot of money to you rich folks, but that loss was my entire gain for a two year period. I paid taxes on that gain too, so I lost those payments as well. Do you think Revenue Canada will refund taxes to me for what I paid on what I lost? Hah! I think we will just buy some more GICs. Slower growth, but guaranted interest earned and secured by CDIC too. I'll feel a lot safer.

[dl85vette]

Don't forget though that mutual funds always grow. Mine took a hit (not quite as bad) after 9-11. Since then they jumped back up. The market right now is short term, when you look at long term 15,20,25 years , mutual funds have growth. On the other hand, I do feel bad for ya. I will agree Pete, in my books, 10000 is a lot of cash. I would be thrilled to have a lotto ticket worth 10 grand.

[ginzokid]

You are still young my friend. When Kim is looking to retire in two years and I'm already collecting SS, we don't have 5, 10 or 15 years to rebuild what we lost in three days. How come you can lose it so fast and not get it back for a long stretch even if the market jumps back up? Explain that one. Meanwhile, everything is down again today. That means I'll lose even more because my account will now close until the end of business today. I'll probably be down another two grand before it's all over. :( PS: The mutual funds portion of the investment has lost just over $2500.00. Don't tell me they always grow. -- Edited by ginzokid at 10/08/2008 10:12 AM PDT

[dl85vette]

Depends what funds you have too. I stayed away from foreign investment. Anyhoo, I didn't realize you were looking at short term for cash out or whatever plans you had. If the timing was near to start cashing out to live off of during retirement, then yea, that's a kick in the gonads. People may laugh, and it may not grow at all over time, but the safest investment is sticking it under the mattress or in the deep freezer. gov't will never know if ya have 40 grand sitting in a tin can out in the shed. Mind you I wish I had 40 grand to be sitting in a tin can under a layer of stucco in the wall. We were talking about the market at work one day that this market crash will make new welfare folks and make new millionaires. I don't understand finances whatso ever. Some countries are declaring recession and then other countries are wondering if they should do the same. WHY? Why should Canada when our economy is doing well overall. Lots of energy, decent dollar. Why there are model trains...to escape reality -- Edited by dl85vette at 10/08/2008 2:22 PM PDT

[ginzokid]

Well I got the cash this morning. It's in the checking account right now. We are considering paying off the car and using part of it to also remodel the main bathroom. We were going to access our credit line to do that, but why should we. Then we can reinvest the remainder in something that is guaranteed and has steady slow growth. I'll never get into the market again, or mutual funds either. We can then add whatever extra cash we have as it comes up. Like the car payment we don't have any more. But we can do it at our own schedule. Meanwhile, cash in the bank is good. B-) Our tin can overfloweth!!!!! :^O -- Edited by ginzokid at 10/09/2008 4:25 AM PDT

[barrysfp45]

You could always invest in a trip to OZ at least you would be warm for a while and you would nearly double you money here at the moment. ]:) Well, our dollar is worth less than the US too. Amazing. Also, remember that I don't like to fly? B-) -- Edited by ginzokid at 10/09/2008 11:21 AM PDT

[dl85vette]

open up a web-based p#rn site. That's probably more profitable than investments. sad but true. I can't believe ebay won't let me type the word born with a 'P' -- Edited by dl85vette at 10/09/2008 1:31 PM PDT Ijust found out that you can't type slot with a "u" either. So how can I start a p#rn site if I can't show the sl#ts? ]:) -- Edited by ginzokid at 10/10/2008 3:45 AM PDT

[dl85vette]

hahaha!!!

[barrysfp45]

so who said anything about using ebay, there are hundreds of p#rn sites out there in cyberspace and they all show the sl#ts. ]:)

[ginzokid]

I was thinking of auctioning off a few slots on ebay. Maybe some BINs too. You know......diversify. B-)

[barrysfp45]

so what ID will you be using, petethepimp or maybe ginzopimp. ]:)

[g-pa1]

Peter Pimpioti

[ginzokid]

Notice how this thread is now circling the tidy bowl? Just like my money........glug, glug, glug! As far as the business, I'm planning on giving you guys the business soon if you don't cut it out! ThePimpFadda