I took a random walk down Wall Street and got hit by a bus.

2 posts / 0 new
Last post
Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3200
I took a random walk down Wall Street and got hit by a bus.

I ran across an article in this month's The Atlantic that I certainly identified and, I suspect, many on this blog will also.  It's a cautionary tale.

http://www.theatlantic.com/doc/200905/goldberg-economy

Quote:

For most of our adult lives, my wife and I have behaved in the way responsible cogs of capitalism are supposed to behave—we invested in a carefully calibrated mix of equities and bonds; we bought and held; we didn’t overextend on real estate; we put the maximum in our 401(k) accounts; we gave to charity; and we saved, but we also spent: mainly on gasoline, food, and magazines. In retrospect, we didn’t have the proper appreciation for risk, but who did? We were children of the bull market. Even at its top, my investment portfolio was never anything to write home about. Its saving grace was that it was mine. And I imagined that when we did cash out, at 60 or 65, I would pass my time buying my wife semisubstantial pieces of jewelry and going bass fishing like the men in Flomax commercials.

Well, goodbye to all that. I took a random walk down Wall Street and got hit by a bus.

SamLinder's picture
SamLinder
Status: Diamond Member (Offline)
Joined: Jul 10 2008
Posts: 1499
Re: I took a random walk down Wall Street and got hit by a ...

Doug,

Great find! I loved this story. Like you, and I'm sure many others, I can so relate to it! Wished I'd read it a few years ago - sigh......

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments