Recession 2020

[scaredyclassic]

[quote=temeculaguy]Scardey, no need to apologize, I only used the example as a historical reference. Everything happens for a reason. Had I lucked into a windfall I would have squandered it. Keep in mind I was a 40 year old divorced guy, I wouldn’t have paid off my house I would have bought some exotic car, found a gold digger for wife #2 and been on these boards looking to make up for poor decisions once again. Because I pussed out, I found a wonderful, reasonable, low maintenance wife who insisted on a pre-nup so my kids would not resent her as an inheritance thief. A decade later, my wife is still the same person I met and I’ll never have to donate real estate again or find another wife. So you did me a favor, because I do not believe I was mentally equipped to handle that money at the time. Once again, everything happens for a reason, and I chose to take that advice so it’s on me and any regrets are in jest, I’m grateful for how life turned out. I did like your self actualization on your wife and how her strategy is likely better. Even Brian admitted others are better at this, thus his endorsement of mutual funds. I like these new admissions.

FLU, spot on once again. Leaving alone retirement funds is fantastic advice, my experience in the investments I’ve left passive have been the most successful, furthering my understanding as I age that my emotions are my greatest enemy. When I enter a casino and play 3 card poker, I win more at 3 card poker when I play “blind.” Furthering my theory that emotion and money should be kept separate, not that casinos are a good investment. I only say this because I have to attend a wedding in vegas soon and I’ve decided I’m not playing any games of skill while there, especially given my proclivity to partake in the free beverages on offer there. It took 50 years to learn my faults, but at least I learned them.[/quote]
i cannot agree that everything happens for a reason, but I can compromise perhaps with we can find a reason after the fact for everything that happens, and maybe that ends us up in the same place.

In spite of all the general worrying about things that are largely out of my control, not one thing bad has ever really happened. The 2nd kid is gearing up to graduate college and all of my financial worst case scenarios have ended in basically no debt and plenty of money for whatever we would want to do. I’m not sure things could’ve turned out better for me in life.

I think I learned from my parents the fallacious reasoning that if you worry, then it will tend to make things come out all right, and people who don’t worry are fools, so the reason you must worry is to avert disaster.. Sometimes I think, “I made it!”, as if the outcome is still uncertain and I need to remind myself that I’m doing great… I’m not sure where I made it to, but I definitely seem to be doing good, and I don’t really worry about money. Nowadays, it’s more of a sense of time running out and the feeling like maybe I have wasted big chunks of time.

It seems like a recession has to come at some point, but the market can remain irrational longer than you can remain solvent, as they say. In the meantime, I will continue to scrimp and save, regardless of recessions or booms, I’ll iron my own shirts and do my own yardwork…a not inconsequential economic gain for me, as there is probably $2-3000 worth of weed removal I do every year. So much weedwhacking. Not sure what the reason is for all these weeds; to test my resolve? To keep me working? So tall this year, with the rains.

[flyer]

It’s great to read how so many of us on this forum are pretty much living the lives of our dreams. As scaredy alluded to–the clock is ticking–nothing any of us can do about that–other than continue to live the lives we want to live.

[Coronita]

[quote=scaredyclassic]
I think I learned from my parents the fallacious reasoning that if you worry, then it will tend to make things come out all right, and people who don’t worry are fools, so the reason you must worry is to avert disaster.. Sometimes I think, “I made it!”, as if the outcome is still uncertain and I need to remind myself that I’m doing great… I’m not sure where I made it to, but I definitely seem to be doing good, and I don’t really worry about money. Nowadays, it’s more of a sense of time running out and the feeling like maybe I have wasted big chunks of time.

[/quote]

Andy Grove (former Intel CEO) best said it..

“Only the paranoid survive”…

ok, maybe a little exaggerated for everyday life but the gist of it useful….

That said. I am ready to retire. I want to do something else. Doing tech is getting to be a drag for me. unfortunately, I haven’t motivated to find what that something else is yet. I don’t want to just sit on my ass on day or waste all my time working on my cars…. and generally the tech scene is still good and it’s hard to say goodbye especially when it’s not difficult work….I am getting lazy in my older age. lol

[FlyerInHi]

There is a time for everything.
Feeling the pulse of the economy has nothing to do with personality.

Back in 2008/2009 we should have supported more stimulus and infrastructure spending to improve the economy and build on national wealth. We would have built a stronger economic base. Just look at what China did with infrastructure. Now they own the technology and the economies of scale to build things. They can easily build a new HSR line once a week; and on open bid, they will win every time on technology and costs.
The doom and gloomers who opposed good policies cost us great national wealth.

Now, a decade later, we are due for cyclical recession. Cyclical recessions occur in cycles and have nothing to do with doom and gloom. That’s just objective thinking.

Scaredy, you planned well and bought a house at the low. Now, you’re doing well. Why not buy a commercial or apartment building next recession? I think would be a good apartment manager in retirement, although I believe you might be too lax on tenants who don’t pay on time.

[scaredyclassic]

i think the best option for me is to just keep working.

[flyer]

Agree, keeping busy with a variety of endeavors, along with other interests keeps life exciting. We’ve taken on multiple real estate, film and other projects over the years, and plan to continue to do so indefinitely. Really never plan to “retire,” as long as we find the projects interesting, and they are things we can pass along to our kids.

[The-Shoveler]

[quote=flu] I don’t want to just sit on my ass on day or waste all my time working on my cars…. [/quote]

My wife refuses to let me get a metal detector so I can search for treasure on the beach, I guess I will just keep working.

[Coronita]

Time is more precious than money these days…Today is a great example…

I am getting old… hopping park to park didn’t use to be so tiring. And I’m starting to feel it. I use to ride the above all the time no problem. It’s not that the g’s that bother me… It’s the cracking of my neck and back and muscles after being flung around a few times. Six Flags also got this pretty new ride called X2… It’s just ridiculously awesome, you start out leaning backwards, head first…But 7 times later, my neck hurts and my head kinda hurts. It didn’t help the first ride was at night when I couldn’t see.. . unfortunately, I wasn’t able to sneak my GoPro on board. Try again in the summer, after I’ve recovered .. That’s what season passes are for….lol

[Coronita]

[quote=The-Shoveler][quote=flu] I don’t want to just sit on my ass on day or waste all my time working on my cars…. [/quote]

My wife refuses to let me get a metal detector so I can search for treasure on the beach, I guess I will just keep working.[/quote]

https://www.harborfreight.com/9-function-metal-detector-with-arm-rest-62307.html

$50…. With a 25% coupon you normally can get, it’s $40 after tax.

Tell you what, PM your address and I’ll send you one…And I’ll give me your address and you can send me these 6 ton jack stands I want to get , as one of many things I “need”..I think I am going to figure out how to do my own alignments. at least for my two cars. I think the alignment shops are getting tired seeing me every month that or two with my lifetime alignment package

https://m.harborfreight.com/6-ton-steel-jack-stands-61197.html

[The-Shoveler]

LOL Thanks flu, sorry I should have been more clear,

My wife will not let me “have” a metal-detector.

Too many honey do’s won’t get done LOL.

[Coronita]

[quote=The-Shoveler]LOL Thanks flu, sorry I should have been more clear,

My wife will not let me “have” a metal-detector.

Too many honey do’s won’t get done LOL.[/quote]

Sigh…This is where you need to “think outside the box” and merge that idea with “do first, ask for forgiveness later” together… Let me explain…

Step 1: Go here and buy your metal detector and leave it in your trunk
https://www.harborfreight.com/9-function…

Step 2: Go here and buy something around $500
https://www.tiffany.com/jewelry/shop/earrings/

Step 3: show your wife the metal detector, and withstand whatever scolding you get from her… Say things “you’re right dear. I’m sorry dear. I don’t know what I was thinking dear. Because I was stupid, dear. I’ll make sure not to waste that much time dear…. Don’t worry dear, it’s more as a joke dear.

Step 4: wait a few days and say you’re going to the beach for an hour to exercise, because you’re trying to lose weight…and then go play with your metal detector for a few hours….

Step 5: when you come back home, before she has a chance to get pissed at you for being at the beach for a few hours jerking around with your metal detector… in the happiest mood say “Honey, honey. I’m sorry I’m late, but I was at the beach playing with my metal detector, and look what i found with it!!!!” And quickly pull out the thing you bought in step 2 coverd with wet sand and show her…

Even if she doesn’t believe your bullshit, if you remember to do step 2 each time after you do step 4, you’ll be fine so long as each time what bring back in step 2 is better than what you brought back last time… As a rule of thumb use this simple formula to guide you:

$J(new) = $J(old) * 2

Which is why I suggest you start your first step 2 $J(first) around $500.

Apology is policy…

[The-Shoveler]

LOL I don’t think I can afford it, maybe I am not ready for retirement,

[svelte]

My 7 year old has been asking me for a metal detector.

I didn’t even know 7 year olds knew what a metal detector was!!

[Coronita]

Facebook beat earnings numbers…

Twitter beat.

Snapchat beat.

So did Microsoft…

So did Visa….

That disasterous Q1 earnings people were predicting doesn’t look like is gonna happen

[Coronita]

Amazon beats..

Intel getting clobbered probably because of AMD ha ha ha.

[Author]

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