In 2007 I took over managing all the money my husband and I had saved over our lifetime, even though I knew nothing about investing. Most of the money was in a 401K plan with my employer. I got laid off, was damned sure I didn’t want to keep that company’s stock, and so I had to do something else with it. We’d already had bad experiences with professionals too busy to answer the questions of folks with our meager level of savings, and twice we’d been directed into investments clearly not in our own best interest. There wasn’t going to be a third time. Not when everything we had was on the table.
So I spent the rest of 2007 figuring out how to buy stocks myself and, hopefully, how do it well. The jargon was overwhelming and the websites intimidating and the calls from other people who wanted to handle my money for me were relentless. I think it was the tenacity of those who wanted to get their hands on my savings that pushed me to persevere. I mean, if they were all that eager to do this, it couldn’t be that good for me, right? Then, well…..
I guess you all heard about what happened to the economy in 2008, didn’t you?
Read the rest of the story on my d4 blog at “The Big Short”: a review and a look at modern investing.