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How has the world financial crisis affected you personally?

Discussion in 'The Pub' started by Calaber, Oct 11, 2008.

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  1. Oct 11, 2008 #21
    Skitz

    Skitz Banned

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    I've lost everything, I give up.
    I can't even afford baked beans on toast.I guess you could say I'm up **** creek without a paddle.I will just hit the road and see where I end up.
     
    Skitz, Oct 11, 2008
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  2. Oct 11, 2008 #22
    Julie

    Julie moderator- for now anyway

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    Pull your head in, I am not complaining. A question was asked, I answered it. If you don't have anything relevent to say on the topic then rack off before you get an infraction for trolling :)
     
    Julie, Oct 11, 2008
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  3. Oct 11, 2008 #23
    nicko

    nicko Carbon Positive - DO IT!!

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    the slump has abviously reduced the value of the shares and managed fund i have but that money will be invested for another 30 years until i retire so im not the least bit worried.
     
    nicko, Oct 11, 2008
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  4. Oct 11, 2008 #24
    VrWagz1

    VrWagz1 The Wagon on Wheels..

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    Directly the crisis hasnt hurt me at all.....yet. But it has shaved a nice slice off the value of my properties, but that dosnt affect me here and now unless i wanted to sell them.
    Besides that interest rates are coming down and oil has dropped a bit so thats a positive for me, bad thing is general day to day stuff is going up and will possibly go up some more too which is bad.
    The aussie dollar has dropped heaps so thats tops for me as my line of work relies on exports and it gives the company a more competitive edge now than compared to before, but if the big bust strarts to reduce demand then it could possibly mean my job too. Theres more to come yet i recon, i think after the next 6 months we will start to get some clarity on the situation.
     
    VrWagz1, Oct 11, 2008
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  5. Oct 12, 2008 #25
    Calaber

    Calaber Nil Bastardo Carborundum

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    Those of you who are still quite young have the right attitude. Sure, your super/investment properties/whatever, have dropped in value at present, but these things ALWAYS recover. The recovery will probably take a lot longer this time round, but in a few years, the world economy will be back on track. If your retirement is years away, there is no point losing sleep over the current crisis.

    The people who are most affected are those who have either retired on self managed super schemes or accumulation schemes, and have seen their weekly incomes take a belting, or those who were planning on retirement shortly. The papers seem to have a few articles each day about some poor ol' bugger who was due to retire, and has had to put it back a year or two. One bloke in our local rag retired as a butcher earlier this year, but has to go back to work now for a couple of years to re-build his finances.
     
    Calaber, Oct 12, 2008
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  6. Oct 12, 2008 #26
    Full Spectrum

    Full Spectrum Bro it's a VW your Audi!

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    Might be a good time to see if you can move your super into something more stable and safe - that just might provide you with a better long term outcome.
     
    Full Spectrum, Oct 12, 2008
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  7. Oct 12, 2008 #27
    Pub247

    Pub247 Well-Known Member

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    Sometimes its this sort of thing that makes matter worse, people panic or loose confidence in the market and pull money out, causing it to plummet even further.
    IMO this year is a wise time for investing money in market, with certain stocks at their lowest in a long time. The wise would invest in companies they will surely return to previous and if not higher. Resource sector and even some banks may be wise.
    This is just my opinion i am no expert and know SFA about shares.

    On a personal note earlier this year a mate of mine was gloating on how he had more in his superfund by choosing a more aggressive approach. He didnt like it very much when i brought it up with him this week, there was defenitly no more gloating
     
    Pub247, Oct 12, 2008
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  8. Oct 12, 2008 #28
    Full Spectrum

    Full Spectrum Bro it's a VW your Audi!

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    I'm not suggesting to remove all money and hide it - or buy a safe just yet:D. Just re invest it in a better super/account that is best for you in the long run.
    It's like the advice to look for a better home loan - or a better everyday savings account and/or credit card.
     
    Full Spectrum, Oct 12, 2008
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