David - We're all pulling for you. Wish there was something we could do, besides send positive thoughts.
David - We're all pulling for you. Wish there was something we could do, besides send positive thoughts.
The Man In Black Fled Across The Desert...
...And The Gunslinger Followed.
“I’m always on the Batman rule, sir.” - Kate Kane / Detective Comics 857
"It is the story, not he who tells it." Except to us collectors who have to put limits somewhere. - jhanic
Remember, Remember, The Fifth of November, The Gunpowder, Treason, and Plot.
I just got back from Germany after being there for 14 days and the mood there is extremely bad also. Saab bankruptcy and Opel is in a world of hurt. They could go under easily if GM does not bail them out. Mercedes said they will not help. Everywhere I went the topic of Economic Crisis was at the tip of everyone's tongue. I will say this though, the Germans LOVE Obama. Every hourly news report tops the list with news about him.
Dave, I feel bad for you. Our company is doing well so far. I am in charge of heaters, generators and some other categories that have done remarkably well this year. BUT the other 5 guys at my level are all double digit negative in sales for the year (Our year starts on August 1). My stuff is up about many Millions since August due to power outages and great heater selling season. We layed off a few people but if sales do not pick up I would guess it would be a lot more. These are very bad times and I hope we come out of it soon but every day brings more bad news. I hate to even talk about my 401K-no longer being matched but just the dollars lost. We can only hope it climbs again....
I REALLY appreciate the positive support from everyone (spoken, written, or just held within themselves).
It is hard not to get depressed when you read all the headlines about the economic crisis, ESPECIALLY since it is affecting the entire world economy, not just a region like North America. There is no place out there to help pull the others out of crisis. There have been many comparisons of this current recession to the Great Depression, or calling this recession the Great Recession, and I see just how badly this machine is really broken...Obama is but one man. We used to be able to consume and spend our way back to economic prosperity (or God forbid, a major war). That model is totally broken, in my opinion. There will have to be some radical changes in behaviors, on the part of government, business and consumers to get back on a growth track again. In short, we face a new way of growing the world economy...change of that sort is going to take some time.
Sorry for the rant.
Dragline : Nothin'. A handful of nothin'. You stupid mullet head. He beat you with nothin'. Just like today when he kept comin' back at me - with nothin'.
Luke : Yeah, well, sometimes nothin' can be a real cool hand.
I work in a camera store, and luckily we haven't noticed too much of a drop off yet. Our target customer makes enough money that they haven't really felt the pinch yet. However, as a preemptive move, right after Christmas they cut the store hours by 15 per week.
Where I've noticed the worst effects are in my investments. All through high school I busted my ass saving money for University, and invested it only in stable stocks. I had more than enough to pay for all of my education, but in the last six months I've lost about $7000 - more than a years worth of tuition!
Small beans compared to what many are facing, I know, but I'm in a situation I haven't been in for a few years where I need to save about 90% of my income. This economy thing really sucks, eh?
Eh, I am getting old.
Here I am off of work on Fat Tuesday, sitting peacefully at home instead of carousing the French Quarter with some pleasantly crazy friends.
The insanity and frenetic energy of the Mardi Gras lost its lustre while my hair was greying, I guess.
David, you know I work for a bank as well and you know which one. If there's ever anything I can do to help, please don't hesitate to let me know.
Mike, glad to hear your business is up at least for the time being. Eric, best to you in the tuition department.
On a side note I quit opening my 401(k) statements six months ago. I'll wait 'til the economy turns around again.
Being a non-american I didnt understand what was that 401(k) that some of you mentionned a few times.
By searching it up i've just understood that it's the retirement plan (further details on wiki)
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CLUB STEPHEN KING (french website about STEPHEN KING, since 1992) : on : Facebook | Twitter | Instagram
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Originally Posted by Patrick
This is excellent advice. I lost about 20% of mine last year.
This year, I'm not looking.
The Man In Black Fled Across The Desert...
...And The Gunslinger Followed.
“I’m always on the Batman rule, sir.” - Kate Kane / Detective Comics 857
"It is the story, not he who tells it." Except to us collectors who have to put limits somewhere. - jhanic
I took my 401K and redistributed ALL the cash into low interest earning bonds - at least I am no longer losing money! Being conservative is a good thing right now.
DT Spoiler - Enter at your own risk!
Spoiler:
Bob - I keep going back and forth about doing that... I mean, its after the fact kind of loss, so I was advised ( granted, it was from friends, etc ) to leave it where it was....
.... Ugh.
And did I mention :
The Man In Black Fled Across The Desert...
...And The Gunslinger Followed.
“I’m always on the Batman rule, sir.” - Kate Kane / Detective Comics 857
"It is the story, not he who tells it." Except to us collectors who have to put limits somewhere. - jhanic
When I left my main full-time job, I transferred my 401K to a self-directed IRA. Since then. I've tracked my retirement monies DAILY. I've been doing this for more than 10 years. Unfortunately, I lost the first three years' worth of data, but I've got daily records of my and my wife's retirement monies for the past seven years. I still watch it daily (in between watching CNBC and Bloomberg). I'm down about 39% from my all-time high, October 9, 2007, and am down about 7.5% for the year. Actually, that's not too bad in the scheme of things. My wife and I actually stopped working for money about five years ago and we have not had to touch our retirement savings. My wife was a teacher and with her generous pension, my pension and my Social Security, we have been living off that. And I even am able to spend money for my collection!
John
Not bad John, sounds like you planned well.
I've dodged the "layoff" bullet twice this month. Unfortunately at my place of employment, when they say layoff, it's not actually a layoff. You simply no longer have a job. I've been there 8 years this May and I'm the only person I know of who's ever been brought back.
While I dodged the bullet, most of the people I worked closely with did not. I'm the only one left with any sort of graphics background. Not fun, that's for sure.
Mark Twain
For the lognest time I sat and watched. I was told you're in it for the duration - it will come back. Normally that is what I would do, however, there becomes a point when the recovery period is too long to matter. I decided to cut my losses. Three years ago my 401K was worth twice what it is worth now and I have continued to put 10% of my pay into it through this period - so actually its more than a 50% loss. It would be 50% if I had not added to the value on a pay period by pay period basis!Bob - I keep going back and forth about doing that... I mean, its after the fact kind of loss, so I was advised ( granted, it was from friends, etc ) to leave it where it was....
.... Ugh.
And did I mention :
When stocks start making money - eventually that will happen - and I am sure of it I will move my funds around. BUT for now I am playing it very very conservative. I simply cannot afford to lose any more. When HP bought my company (EDS) company contributions to my pension stopped. In my situation that retirement fund will now only continue to grow through interest earnings. I can only hope that money is there when I need it. HP's philosophy is that you control your own retirement and thus you better fund it through the 401K. For those that don't know when I refer to pension I am NOT talking about my 401K (which I fund out of my pay) - I am talking about the traditional pension plan that most large companies USED to fund as part of a benefit package.
At one point I would have liked to retire early - say at 55 years old - well that didn't happen - and now normal retirement age (for baby boomers anyway) at 65 years old may not happen! It appears that the Twilight Years are getting shorter and shorter - that would be OK if I were in a job that I loved. But, unfortunately I don't love my job - the stress levels are tremendous; the 90 minute each way commute tolls hard; the cost of living in the Washington DC Metroplitan area is high - all leaving less and less time for family which is way more important to me.
I have on more than one occcassion considered selling my entire collection (as meager as it is as compared to some I see here) to help with expenses. Problem is it would earn me much less today than it would have a couple of years ago and in today's market it might only get me a handful of mortgage payments! And it's my passion, BUT my family will come first. :-)
I know these are tough times for many of here, and tougher still for the thousands and thousands that are less fortunate than me. I am grateful for having a job, for my wife having a job, for having our health, for having a home and always having food on the table and all the necessities of life and many of the nice-to-haves too, for having four successful kids, and for having such great and considerate and compasionate and understanding friends and family here at the darktowerdotcom!
DT Spoiler - Enter at your own risk!
Spoiler:
Bob - I so completely understand. What you're describing sounds so familiar!! Gosh, I haven't seen a company ( at least around here ) offering an actual pension in more than 10 years.
I feel your pain on the job situation, as well. I also have a job that, though being good at, I'm not too fond of. My commute, however, is a more managable 40 minutes or so, each way ( at 5am ). I suspect, with the recent layoffs, etc, my ticket may be up next, or soon after.
Why can't we all just get jobs collecting Sai King?!?
The Man In Black Fled Across The Desert...
...And The Gunslinger Followed.
“I’m always on the Batman rule, sir.” - Kate Kane / Detective Comics 857
"It is the story, not he who tells it." Except to us collectors who have to put limits somewhere. - jhanic
Bob I am going to say a novina for you....I live in the Detroit area and with the big 3 just about to go under everywhere you look its bad out there. They had a corupt mayor and I suppose a few on the city counsil as well. Crime of robbery is on the rise and I just read the other day where liquor sales are up 53%(not beer but hard stuff) and what does our good state want to do about that..why raise the taxes on it of course. It's no wonder why completly sane people lose it and go postal. I (Thank God) work for a Mom & Pop that treat me well, there are no talks of lay off (yet) and we are hoping that it wont come to that but I will be willing to take a pay cut vs a lay off. I'm no spring chicken anymore so getting back into the job market would be a big P.I.T.A. (pain in the ass). I am down 80% in my stocks, 43% in my 401k and my house has lost 10% in its value. This SUCKS
If it weren't for integrity...what would you be? Ka is a wheel.....
No question it is UGLY out there, and like Bob (and others), I am blessed with my family and lots of support from my "community." I have worked hard in my career for the last 25 years and have lived a "privileged" life some would say if you compared me to others. However, early in my career, I remember vividly living on a very strict budget, where I had to decide whether I could afford to buy a pizza for myself on a Friday night. But I come from good Midwest stock and parents that taught me to always appreciate what you have...never take anything for granted.
I never though I would fast be approaching 50 years of age and be SERIOUSLY worried about my and my family's financial future. In addition to having just lost my job, I have been twice cut off at the knees on my pension. First, Credit Suisse decided to close the subsidiary I used to work at (where the pension originated). The magic number of years of service to qualify for a full pension at retirement was 20 years. I have almost 18, so I was denied a full pension. What's more, because of the way pension calculation is done, the last few years to 20 are the most critical in terms of getting you to 100%...it's not an even distribution kinda thing. So getting cut off at 17+ years left me at about a 65% pension, a far cry from the 100% I was so hoping for. The second nail in my pension coffin was that because I transfered within my company, I still had a chance of accruing enough service that while it would not get me any more $$, it would enable me to collect at age 60 instead of 65. Well, my being laid off last month prevented that from happening too.
As for my 401K, house etc., I'm pretty screwed like mosty other people. My 401K has lost close to 40%, my home value has fallen 35% from the top, and my King collection is worth a pittance of what it was formerly. Despite all of that and the bleak prospects of finding a new job in my area of expertise in this market, I remain generally cheerful and savor the positives that I do have in my life. I still am blessed with quite a lot and am truly thankful.
Dragline : Nothin'. A handful of nothin'. You stupid mullet head. He beat you with nothin'. Just like today when he kept comin' back at me - with nothin'.
Luke : Yeah, well, sometimes nothin' can be a real cool hand.
Very well said, David.
John
Ugh. I feel your pain. I grew up in Saginaw and escaped to Colorado about 15 years ago. I'm keeping my eye on GM myself, my dad worked there for 40 years and my mom is collecting on his pension, which essentially doubles her income. If that goes under she will be living on SS only, which won't hurt her too much (her house and car are paid for) but it still ticks me off that my dad worked there that long and they could just decide to go under and *poof* no more pension.Bob I am going to say a novina for you....I live in the Detroit area and with the big 3 just about to go under everywhere you look its bad out there. They had a corupt mayor and I suppose a few on the city counsil as well. Crime of robbery is on the rise and I just read the other day where liquor sales are up 53%(not beer but hard stuff) and what does our good state want to do about that..why raise the taxes on it of course. It's no wonder why completly sane people lose it and go postal. I (Thank God) work for a Mom & Pop that treat me well, there are no talks of lay off (yet) and we are hoping that it wont come to that but I will be willing to take a pay cut vs a lay off. I'm no spring chicken anymore so getting back into the job market would be a big P.I.T.A. (pain in the ass). I am down 80% in my stocks, 43% in my 401k and my house has lost 10% in its value. This SUCKS
My 401(k) is also in the tank, and my condo depreciated about $10,000 in the last year, but so far my job looks okay, so I figure I'm better off than a LOT of other people are right now.
"People, especially children, aren't measured by their IQ. What's important about them is whether they're good or bad, and these children are bad." ~ Alan Bernard
"You needn't die happy when your day comes, but you must die satisfied, for you have lived your life from beginning to end and ka is always served." ~ Roland Deschain
On a lighter note....Check this out
http://news.yahoo.com/s/nm/20090226/..._israel_wall_6
I think a "KA" or CK "Eye" would be perfect
If it weren't for integrity...what would you be? Ka is a wheel.....
Bango Skank was here.
"People, especially children, aren't measured by their IQ. What's important about them is whether they're good or bad, and these children are bad." ~ Alan Bernard
"You needn't die happy when your day comes, but you must die satisfied, for you have lived your life from beginning to end and ka is always served." ~ Roland Deschain
I have 20+ years until retirement. I'm riding the market all the way down and I plan to ride it all the way back up again.
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[partial post, and follow-up posts, moved here from another thread]
In personal news, I mentioned earlier in this thread that we are having a baby, probably be here in late June. We didn't find out the sex beforehand with the first two. They are both boys. This time my wife was adamant that we find out the sex. We found out a few days ago that we'll be having a girl. My wife is over the moon.
"...that Siren which called and sang and promised so much and gave, after all, so little." ~ Ray Bradbury
Congratulations to you and your wife Patrick.
Gosh, how sweet!
Congratulations, Patrick !
The Man In Black Fled Across The Desert...
...And The Gunslinger Followed.
“I’m always on the Batman rule, sir.” - Kate Kane / Detective Comics 857
"It is the story, not he who tells it." Except to us collectors who have to put limits somewhere. - jhanic
A daughter will bring things to your life that you could never imagine you were missing.
Congrats Patrick.
The kindness of close friends is like a warm blanket
Congratulations, Patrick!
John
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