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Started By
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re: What is your most expensive financial mistake?
Posted on 3/3/21 at 9:51 am to TexasTiger08
Posted on 3/3/21 at 9:51 am to TexasTiger08
Selling 300 shares of Amazon stock in November of 2001. It was around $7 a share.
Today it's over $3000.
Today it's over $3000.
0
Posted on 3/3/21 at 9:52 am to TexasTiger08
Did the Dave Ramsey plan and bought a used car for cash. However, I wasn't a mechanic at the time, and didn't know how to fix much of anything.
Everything fell apart on it in short order, and I wound up selling it to a mechanic for what I owed in CC debt due to dealership repairs.
Wound up losing 10k overall between purchase and repairs. It wound up being cheaper to have a car payment than it was to keep trying to fix shite.
Now, I feel confident I could have gotten my money out of it and maintained it. But it was a learning experience. Also, Ramsey is stupid when it comes to car advice.
Everything fell apart on it in short order, and I wound up selling it to a mechanic for what I owed in CC debt due to dealership repairs.
Wound up losing 10k overall between purchase and repairs. It wound up being cheaper to have a car payment than it was to keep trying to fix shite.
Now, I feel confident I could have gotten my money out of it and maintained it. But it was a learning experience. Also, Ramsey is stupid when it comes to car advice.
Posted on 3/3/21 at 9:53 am to RoyalAir
What kind of vehicle was it?
Posted on 3/3/21 at 9:56 am to Sun God
Right. Does ole Dave tell you this works best with Honda,Toyota, and Lexus?
Posted on 3/3/21 at 10:03 am to Sun God
quote:
What kind of vehicle was it?
Sixth-gen Maxima.
When it worked, it was a blast to drive. But it wasn't maintained before I bought it, and I didn't do my diligence. My mistake, for sure.
Posted on 3/3/21 at 10:05 am to RoyalAir
Transmission issues I’m guessing?
Posted on 3/3/21 at 10:32 am to TexasTiger08
Only buying 17 shares of $PENN right after they invested in Barstool about 1 yr ago
I could've bought 2,900 shares....would be worth $370k today 500% gain
I knew I trusted Dave Portnoy more.
I could've bought 2,900 shares....would be worth $370k today 500% gain
I knew I trusted Dave Portnoy more.
Posted on 3/3/21 at 10:40 am to TexasTiger08
Selling my Apple stock in 1982 because my investment had doubled, and the broker at my bank assured me that the company would never amount to anything. Several years ago had I held my original investment it would have been worth about $800,000.00. Probably anyone that has ever invested in the stock market has a similar experience.
Posted on 3/3/21 at 10:44 am to TexasTiger08
Not rolling some of my IRAs into a down payment on my first house, as they are receiving dick in interest while it would have reduced my note / interest on that house and meant more equity when we sold and bought a new one.
Posted on 3/3/21 at 10:51 am to LSUGrad2005
quote:
I owned 4,000 shares of Tupperware (TUP) I purchased around $3.50. Sold it around $5.50. I looked at it the other day and it is at $33.
Pretty stupid, I don’t remember why I sold it eother
That's got to be awful to stomach, but just look at it as a 57% profit and not what it might have been if you held on to it.
Nobody ever went broke making a profit.
Posted on 3/3/21 at 11:02 am to Jim Rockford
quote:
I bought a shitload of scuba gear and only used it once.
Same, including the hours of training.
But hey I have the patch saying I’m a fully certified diver.
This post was edited on 3/3/21 at 11:03 am
Posted on 3/3/21 at 11:16 am to TejasHorn
quote:
Same, including the hours of training.
But hey I have the patch saying I’m a fully certified diver.
None of that counts if you don't have a scuba sticker on your car.
Posted on 3/3/21 at 11:17 am to TexasTiger08
Not selling my stock awards as soon as they vested. Cost basis is about $85/share, currently trading around $20. At least I didn't make the mistake of bailing in March 2020 when it hit $4.
Learned the hard way that you are already pretty invested in your employer by virtue of working there, especially if you get stock grants every year. Have to take chips off the table periodically.
Learned the hard way that you are already pretty invested in your employer by virtue of working there, especially if you get stock grants every year. Have to take chips off the table periodically.
Posted on 3/3/21 at 11:17 am to TexasTiger08
Buying 50 shares of MVIS at $19.91 average. Been a loser ever since.
Posted on 3/3/21 at 11:19 am to TexasTiger08
Creating a TD handle
Posted on 3/3/21 at 11:23 am to DaleGribble
I had a buddy do that once and this poor bastard is stuck with a bat shite loony liberal in his life now. He’s too Catholic to divorce her I guess?!?
Posted on 3/3/21 at 11:27 am to TexasTiger08
Bought 9,000 shares of PENN stock on the drop back at $6 back in mid-March 2020. Flipped it at $8 and change for 35% profit a couple of days later.
Stock is at $124 today. If I would have held for a year instead of having paper hands, I would have turned it into $1m+.
Stock is at $124 today. If I would have held for a year instead of having paper hands, I would have turned it into $1m+.
Posted on 3/3/21 at 11:38 am to TexasTiger08
ummm thats easy...listening to the idiot on the money board and else where tell me to sell my bitcoins while i could still. Yea well that was a long arse time ago. I should have listened to wiki. oh well.
Posted on 3/3/21 at 11:39 am to TexasTiger08
Rented rather than buying back in 2013 when we moved to New Orleans. We had just gotten married, and I was the only one working. I was concerned with balancing school tuition (paid as we went), a mortgage, etc... with being a single income household and I didn't really know how much our monthly expenses would be (as I stated we had just got married).
If these motherfrickers wipe away student loan debt this is going to just piss me off even more.
If these motherfrickers wipe away student loan debt this is going to just piss me off even more.
Posted on 3/3/21 at 11:50 am to TexasTiger08
Well so far... back when I was young and naïve I had to make a choice between a "years of service/final average pay" pension and a "pay credits" pension. I chose the pay credits and now that I'm nearing retirement age I see that I made the wrong decision to the tune of probably $5k/mo.
Lesson learned... if your company ever tries to talk you into a new plan it is to their benefit not yours and mine.
Lesson learned... if your company ever tries to talk you into a new plan it is to their benefit not yours and mine.
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