Inviting open conversation and opinion here.

[daveandsandyclink]

One of the 10 best in Texas, rated by his peers, for his financial performance and integrity. I don't care if he's team captain of a glee club J Mac. I hired him to protect me from the wall street robbers that got me in '08. I couldn't hire Buffet.

[gbaglo]

Originally Posted by daveandsandyclink

I hired him to protect me from the wall street robbers that got me in '08.

Good luck, since they pretty much just paid fines or settlements, and had plenty of money left over to carry on.

[cpaharley2008]

I remember examining an individual who had owned a lot of land that was in the way of the planned Baltimore Subway system. The state came in under eminent domain and paid him a handsome fund for his subway right of way land. Between that and another large capital gain due to stock sales there was a sizable tax owing in excess of $15,000,000. The return was stamped "received with remittance". The individual liquidated all his stocks and was retired in Florida as a gentleman cattle ranch owner.

As part of my examining process I try to learn something about the individual. My education was in Economics and Accounting, his was Finance. This man had patents on cardboard homes that could be built in third world countries, but due to US and BOCA rules could not manufacture in the US. This man had built the doomed Olympic Village where the Israeli team were killed with his unique cardboard construction. He was a fascinating person.

My point is while discussing some of our economic theories and financial wizardly during the exam he relayed the following synopsis. If he had just left his money in the bank and not invested it over 50 years, he would have been just as well off as he is now, except he would not have lost 10 years of his life worrying about what other people were doing with his money in the stock market. He says he can sleep more soundly now that he is out of the market. These words have remained with me.

[J Mac]

Originally Posted by daveandsandyclink

One of the 10 best in Texas, rated by his peers, for his financial performance and integrity. I don't care if he's team captain of a glee club J Mac. I hired him to protect me from the wall street robbers that got me in '08. I couldn't hire Buffet.

Well that's great! Follow his financial advise and leave it at that.
Too bad he wasn't around for you in '08 it sounds like he's a financial advisor as well as a philosopher.

[daveandsandyclink]

It's called sleeping money. That idea is flawed. The more money the feds print the less your "banked" money is worth. And they are printing lots these days. Your right about one thing Jim... financial wealth can shorten your life with worry. That's why I hired a competent advisor so I can live without watching the markets. Like Buffet, he may never retire. He's one of those few down to earth who loves what he does.

[J Mac]

I wonder how many investors before 2008 had those same praises about their money and investment managers?

[gbaglo]

I just moved some money into a mutual fund, so if you guys were smart, you'd get out of the market...

[escape artist]

Originally Posted by robertg

We feel the same. Our kids are our best friends.
A quote I once read: " the last check you should write is to the undertaker and it should bounce "

Hi; robertg... Always remember this. Be kind to your kids... as they will probably be the ones who chose your nursing home!!! Alf
escape artist N.S. of Lake Erie

[LeonardS]

Addressing the earlier angst expressed concerning getting too complicated with options on what essentially is a "simple get away from it all fiberglass trailer"....

Presently I'm in the middle of a kitchen remodel (that has also morphed into including a bathroom remodel). Talk about angst! There are way too many ways to spend money on what primarily is simply food preparation. I'm sure I am going to enjoy the final product, but at times, like early in the morning when I'm the only one up, I get a strong case of second guessing the expensive decisions already made.

When I get around to ordering or purchasing the Escape of my dreams, I'm leaning towards simple is better, as my personal goal in "getting away from it all" is simply that. Escapes come with so many standard features, that I can't imagine getting too many options.

Of course, I'm setting myself up to eat these words...

[daveandsandyclink]

"you know you want it all Leonard...you need all the options and more"

[LeonardS]

Oh, no! Red ink, the voice of the devil him(her)self!

By the time we get around to getting our FGRV, how about maybe we just buy your gently used 5.0, since surely you'll be wanting to upgrade to the New! Improved! 5.1 Twin Axle! Flagship Model Extraordinaire!

Joking aside....

[daveandsandyclink]

I thought you might get a kick out of that. The devil made me send it. Actually my 5.0 is outdated with antiquated options. You don't want that. The three axle 30' with 4 slide outs should be out by the time you get the kitchen paid for Leonard.

[float5]

Dave, I have heard a number of financial advisors say that anyone who is not rich and can't withstand a dive in the market does not belong in the market. You should not expect that your top ten guy can possibly keep you from experiencing such a dive again.

Mutual funds: I am pretty sure that is much the same risk. Only insured savings up to a certain amount are not at risk.

People within striking distance of retirement or already retired who have to rely on their assets are taking a big gamble being invested in such funds. The market performance over 30 or 40 years is of no value because they often don't have time to wait for a recovery.

LeonardS, expect to see a big options list. You don't really need that trash compactor though.

I don't think any Escape owners will be spending their last dollar with their last breath. People may have a house, savings, maybe land, vehicles, to leave the relatives. Spending the monthly annuity is not going to wipe anyone out but he (not naming names) might have to cut down on the mods!

[gbaglo]

The problem is that not investing is a certain way to lose money.
Currently, a Guaranteed Investment Certificate returns 1.5 to 2 per cent ( last I looked ). And inflation was in the 2 to 3 per cent range. So, that guarantees that your money will not grow, but will certainly be worth less in purchase power.
That said, I'd never suggest people follow my lead, cause I've almost always screwed it up.

[LeonardS]

"LeonardS, expect to see a big options list. You don't really need that trash compacter though."

OK, you made me laugh with that suggestion.

Although, if you really think about it, a trash compactor sort of makes sense... right up there with the (4) 6 volt batteries it'll take to operate it while boondocking.

[float5]

Originally Posted by gbaglo

The problem is that not investing is a certain way to lose money.
Currently, a Guaranteed Investment Certificate returns 1.5 to 2 per cent ( last I looked ). And inflation was in the 2 to 3 per cent range. So, that guarantees that your money will not grow, but will certainly be worth less in purchase power.
That said, I'd never suggest people follow my lead, cause I've almost always screwed it up.

Yes, but that thinking discounts the idea that next month there could be a dive. Then what would that 1.5 in your savings account look like? Darn good. And where would the guy be with his money invested?

[float5]

Leonard, that list is getting bigger by the minute!

[escape artist]

Hi: All... WE too, are in the "Burgeoning build list" group. My retirement aim was to purchase an Escape after 65 and travel through my good health retirement years. The opportunity to own what I would have ordered myself came just past 60 so I grabbed it. Since then every week of holidays has been taken using "Our Escape Hatch". Many options on our 5.0 have become standard equipment , and many new ones have come along.
Now the opportunity has come to upgrade to the new 5.0 Tandem so here I am with a build sheet and many decisions to make, but we are luckier than most because of the past 5 yrs of ownership. What did we use most or not at all? What would our future camping style be, and what would we need to fulfill it?
The one thing most certain is another Escape trailer is in the very near future!!! This time we can work along with Tammy, Reace, Kim, etal to make our "Escape II" dream...Reality!!!
I am ,by now, quite used to "Dancing with the DEVIL!!! Alf
escape artist N.S. of Lake Erie

[daveandsandyclink]

"No Leonard...you don't need all that! Just get the 15' plain little trailer and skip the air conditioner and bathroom. Don't get the spare tire either.
They just ride along on the back of the trailer till they dry rot. Think of the money you'll save. Do you hear me Leonard. Keep it simple."

[CADreamin]

Originally Posted by Floating Cloud

Leonard, that list is getting bigger by the minute!

Leonard, where's the hot tub going?