Did you listen and take my advise?

[shockey80]

Soon after Trump was elected I started an emergency fund. It was obvious the Trump Presidency would end very badly, one way or another. I suggested everyone here should do the same, start an emergency fund. I explained a simple way everyone could do this.

Get an envelope and put away what ever you could afford every week. If you have to you give up your morning coffee and donut, do it.
If you had put away only $20 a week in that envelope 3 years ago, you would have over $3000 in that envelope. That would be really handy right now. I also suggested you take all your change from your pockets and put in a bucket. If you did that 3 years ago you would easily have $1000 in that bucket.

I have faults like everyone else. However, I do not suffer from these faults. I recognize the obvious, I recognize danger and I take action. I educate myself and I do not blindly follow. Because of this I recognized the danger and was prepared for the 2008 economic collapse and I am financially prepared for an economic collapse from the virus because I started an emergency fund the day after Trump was elected. The danger was obvious. So I took action.

[empedocles]

1. I have periodically increased my bear hedge over years.

[An inverted dollar cost averaging 'system' , that worked quite well as the bear hedges got cheaper over time].

[SWBTATTReg]

2. Smart advice for anytime!

[shockey80]

3. I guess not to many people took my advise.

[not_the_one]

4. You ARE the sage. But people are idiots.

That is excellent advice, because there are always going to be bumps in the road.

Unfortunately we no longer save. I have a savings account with a couple thousand $$ in it, and it earned 35 cents in interest in 2019.

So people don't save, being paycheck to paycheck they can't save, they don't have enough to invest in the stock market, and if you aren't in the stock market, you are, essentially, the disposable American. The fact that you have to work two or three jobs just to maintain yourself and your family, that is now the price of living in America.

Yet the people WITH the money sit back and let their money make money. Easy peasy. They don't really do shit to earn it, but if something happens and they start to LOSE money, they freak out and are the FIRST to expect a financial bailout.

And the turdettes are willing to tolerate quite a bit of economic adversity, as long as they can continue to bask in their hate and bigotry.

I didn't think it could get worse after Reagan. Then we got W. I thought we had scrapped the bottom of the barrel with him, but boy was I in for a re-defining of the "bottom".

The republicans fuck it up, and the democrats ride in to save the day. That is they cycle, time after time. This time it is going to take quite a while for the democrats to reverse this national stupidity that we have sunk into. IF we are salvageable.

[cwydro]

5. I remember you thought Avenatti would be great for President too.

[shockey80]

6. I never said that, trouble maker.

[cwydro]

7. Yeah, you did.

[shockey80]

8. I have an idea, how about you and I meet somewhere and we will discuss it.

[cwydro]

9. Ooh, fascinating.

Methinks I hit a nerve.

[shockey80]

12. Are you jealous I gave people good advise?

You obviously didn't take the advise.

[cwydro]

15. Advise and advice are two different words.

You’re using advise incorrectly.

And yes, voting for Avenatti would be bad adviCe.

[Dr. Strange]

10. I mean...

We need more Americans like him.

We really don't.

[shockey80]

11. I and many people here liked Avenatti at first because of the way he attacked Trump.

I never said he would make a great president like the liar said I did and if I did I must have been drunk while posting.

[cwydro]

16. Thank you.

I remember it well.

[Totally Tunsie]

13. My Daddy was smart and frugal. Emergency Fund was #1 in our household.

He taught me well, and I'm grateful for it, especially since I have now retired without worry.

Your advice is sound, shockey80.

[Turin_C3PO]

14. An emergency fund is always a good idea.

Of course for some folks money is so scarce that it’s very difficult to save much. I know when I was living alone a few years ago with $945 a month SSDI, I had to use pretty much every penny for expenses.

[KY_EnviroGuy]

17. Shockey, I still yearn for the good 'ole days when....

people had the fantastic habit of having savings accounts and they gained decent return poor people could be proud of. That also instilled good habits in the children like me, and it was a huge deal when our parents set an account up for us.

As you know, for quite a long time, savings accounts are almost a waste of time and gain little or nothing, so we have lost that mentality. The result is Americans have little saving and many live off credit cards.

We may have a looming personal finances disaster.

I'm in no way wealthy but if there's anything I can be proud of, it's making it into retirement with zero debt......