Comments on: Lessons from the 2009 Recession that We Should Have Known http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Thu, 29 Jul 2010 10:29:31 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Bank Guru http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22638 Bank Guru Sun, 27 Dec 2009 06:07:23 +0000 http://moneyning.com/?p=4283#comment-22638 #5 - I would agree with you on that one. It is hard to pick the bottom... I was (and should of mentioned) it is for more long term people. On average a majority of the stocks have been down in 09. Arguably, picking up a couple good blue chip stocks and holding onto them for 10 or 20 years would be the best solution. #1 - http://www.lasvegassportscarrentals.net/wp-content/uploads/2009/07/white-porsche-911-gt3.jpg ...sexy #5 – I would agree with you on that one. It is hard to pick the bottom… I was (and should of mentioned) it is for more long term people. On average a majority of the stocks have been down in 09. Arguably, picking up a couple good blue chip stocks and holding onto them for 10 or 20 years would be the best solution.

#1 – http://www.lasvegassportscarrentals.net/wp-content/uploads/2009/07/white-porsche-911-gt3.jpg …sexy

]]> By: marci http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22598 marci Thu, 24 Dec 2009 17:59:58 +0000 http://moneyning.com/?p=4283#comment-22598 Those who were debt free and live well below their means, with little need for materially things, went thru this recession personally pretty much untouched. I did see it affect those around me who were not debt free - but for me personally, I weathered it just fine... actually, except for the news, I barely knew it was happening. My (very low) standard of living did not change at all. So I guess it just depends on one's outlook, and if one is debt free. When one has little needs, and few wants, it is easy to get by unaffected by the outside storms. May you all find that peace and security :) Those who were debt free and live well below their means, with little need for materially things, went thru this recession personally pretty much untouched.

I did see it affect those around me who were not debt free – but for me personally, I weathered it just fine… actually, except for the news, I barely knew it was happening. My (very low) standard of living did not change at all. So I guess it just depends on one’s outlook, and if one is debt free. When one has little needs, and few wants, it is easy to get by unaffected by the outside storms. May you all find that peace and security :)

]]> By: MoneyNing http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22584 MoneyNing Thu, 24 Dec 2009 01:12:47 +0000 http://moneyning.com/?p=4283#comment-22584 I say get it if you can clearly meet your $3 million goal even if you use conservative numbers. Otherwise, then don't get it and meet your goal first. You can wait a few years :) I say get it if you can clearly meet your $3 million goal even if you use conservative numbers.

Otherwise, then don’t get it and meet your goal first. You can wait a few years :)

]]> By: MoneyNing http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22583 MoneyNing Thu, 24 Dec 2009 01:10:39 +0000 http://moneyning.com/?p=4283#comment-22583 Good concrete plan, as those are the ones that will be met. Good luck with your savings goals and may your income jump a little bit to help with that as well! Good concrete plan, as those are the ones that will be met.

Good luck with your savings goals and may your income jump a little bit to help with that as well!

]]> By: Financial Samurai http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22578 Financial Samurai Wed, 23 Dec 2009 21:47:48 +0000 http://moneyning.com/?p=4283#comment-22578 #5 - A lot of people EASILY lost a lot of money trying to pick a bottom. It's much harder than you think. #1 -Can I buy the porsche turbo if i get a really really big bonus this yr? #5 – A lot of people EASILY lost a lot of money trying to pick a bottom. It’s much harder than you think.

#1 -Can I buy the porsche turbo if i get a really really big bonus this yr?

]]> By: cd phi http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22573 cd phi Wed, 23 Dec 2009 18:12:07 +0000 http://moneyning.com/?p=4283#comment-22573 The problem with saving is that many people are living paycheck to paycheck in order to support their family. However, if we all reassessed our budgets here and there I'm sure there would be some money to put in the savings account at the end of the month. For 2010, I plan on saving $100 more each month than what I usually save even if that means missing out on a fancy dinner social with my friends. The problem with saving is that many people are living paycheck to paycheck in order to support their family. However, if we all reassessed our budgets here and there I’m sure there would be some money to put in the savings account at the end of the month. For 2010, I plan on saving $100 more each month than what I usually save even if that means missing out on a fancy dinner social with my friends.

]]> By: MoneyNing http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22570 MoneyNing Wed, 23 Dec 2009 17:52:42 +0000 http://moneyning.com/?p=4283#comment-22570 It would've been a tough sight to witness if the government didn't intervene AT ALL. We would've seen AIG and Citigroup go bankrupt first, and possibly many others as there's a domino effect based on the fact that each company does business with one another. Before you know it, ALL financial institutions COULD have failed (if you don't think this was possible, imagine companies losing several major customers and interbank lending and borrowing capabilities). And with no lending, every other business sector would have collapse because 99.9% of all businesses borrow money. It would’ve been a tough sight to witness if the government didn’t intervene AT ALL. We would’ve seen AIG and Citigroup go bankrupt first, and possibly many others as there’s a domino effect based on the fact that each company does business with one another.

Before you know it, ALL financial institutions COULD have failed (if you don’t think this was possible, imagine companies losing several major customers and interbank lending and borrowing capabilities). And with no lending, every other business sector would have collapse because 99.9% of all businesses borrow money.

]]> By: MoneyNing http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22569 MoneyNing Wed, 23 Dec 2009 17:44:15 +0000 http://moneyning.com/?p=4283#comment-22569 I don't think there's really a way to see the bottom. The only predictable ways to invest in stocks are either: a) invest regularly and bet that the long term trend of the market is up b) invest in companies that are undervalued through research and stop worrying about short term valuations and volatility. Note that obviously, (b) requires much more skill (and time) than (a). I don’t think there’s really a way to see the bottom. The only predictable ways to invest in stocks are either:

a) invest regularly and bet that the long term trend of the market is up
b) invest in companies that are undervalued through research and stop worrying about short term valuations and volatility.

Note that obviously, (b) requires much more skill (and time) than (a).

]]> By: John DeFlumeri Jr http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22568 John DeFlumeri Jr Wed, 23 Dec 2009 15:52:25 +0000 http://moneyning.com/?p=4283#comment-22568 You're not kidding, we thought the good times would keep getting better and last forever! John DeFlumeri Jr You’re not kidding, we thought the good times would keep getting better and last forever!

John DeFlumeri Jr

]]> By: Ken http://moneyning.com/money-management/lessons-from-the-2009-recession-that-we-should-have-known/comment-page-1/#comment-22567 Ken Wed, 23 Dec 2009 15:23:47 +0000 http://moneyning.com/?p=4283#comment-22567 Good points. An emergency fund is job one in an up or down economy. Good points. An emergency fund is job one in an up or down economy.

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