After a rather lengthy hiatus--since 2008, I've thrown my financial statements into a box and said OMMMMMMMM--I just opened up a few. Well! My very conservative retirement account went up 6% in the first quarter. My go-go smaller retirement accounts went up as much as 18%--in just one quarter. Sounds great.
I notice, though, that the go-go account is about where it was in 2000, the time of the tech bubble bursting. So I have not achieved anywhere near the 26% annual returns (that would double your money every three years) that the Romney boys have made in their gift accounts over the last 15 years.
So I guess I have to keep saying OMMMMMMM, thank heavens Mr FS and I are still working, give a big thank you to Frugal Son and Miss Em for choosing state universities that wanted them badly enough to take them for free and throw in room and board, and a bigger thank you to my frugal forebears for instilling me with a frugal ethos.
I don't think I will ever recover from 2008!
Have you recovered? Do you open your statements?
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6 comments:
I do open my statements, but with my eyes in a squint, as if that will protect me from bad news. We very definitely have not recovered from 2008, but, like you, have much to be grateful for: secure jobs, no debt, first child of four graduating from college in May.
I only started investing in 2006/7 and no, that account hasn't recovered to even what I put in. The index link fund I started in 2008 seems to be doing OK - I'm estimating about 6% per year, which is more than I can get on a CD or the like. I always open my statements, but as I expect my government pensions and rental income will eventually support me, I'm not overly worried about the stock market. After all, worry won't improve the situation. Perhaps you might consider spreading your investments to other than shares?
I check my investments online, but, having chosen an extremely conservative and skilled firm, the news is not dire, just kind of meh. I
'm glad that when my mother died (April 2008) she wasn't aware that her money had melted more than she would have ever dreamed. I wish she'd taken a few more trips and eaten a few more lobsters (her favourite treat) rather than socked it all away.
Dear Frugal Scholar,
Thanks for your comment on my blog, unretiring, but I can't find your email to communicate more about this. Also, will be in New Orleans for a few days April 23, 24, 25.. am posting your blog on my blog. Love the recipes. I was a former food editor of Phila. Inquirer... dottyinky@gmail
@patience--4 children! Lucky you.
@Shelley--Well, I have stocks and bonds..and a paid off house. Not sure what else I can do.
@Duchesse--My father died in Nov 2008 and my mother--helpless w/ money--has had a difficult time.
@Dotty--frugalscholar@gmail.com should do it. I will get back to you next week--am doing work-related stuff and it's overwhelming. I am honored that you like my recipes. I do spend all my time reading cookbooks (not quite ALL).
I can't speak for Shelly but she *might* mean other investment instruments like real estate or precious metals- possibly even investing in a business. All of these have risks, which I am sure you know about.
My mother was extremely capable re money but became so ill she could not attend to paying bills, etc. We used the enhanced services provided by her trust officer and I got signing authority.
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