The mistake of the evening? Looking at our investment accounts. We sold our abode when I started seminary. Made a nice little nest egg that was intended to fund a purchase of a new place once I graduated. It's down almost 40% from where it was when we put the money in.
Don't get me wrong - I'm grateful that it's not completely wiped out, and we have no consumer debt or student loans so we can deal with this. I also know that many others are in much worse shape than we are. Still, it makes me sad that our fiscal discipline has been trumped by Wall Street's lack of discipline and belief in the derivatives tooth fairy.
Oh, well. It's only money. And maybe the markets will come back up again when the skinny black guy with the funny name is elected (I hope). If not, we'll figure it out. My fear is that there are many other folks who won't be able to do that.
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My spouse looks each and every day at this stuff and beats the drum of doom and gloom. My 529 accounts for the grandkids' education are way, way down. Guests on Bill Moyer's show predicted this last year. Sigh.
I always thought it was interesting that just about every job and profession is regulated except the markets, and that is where the most potential for malfeasance is!
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