'I cashed out my 401(k) to survive'

Discussion in 'Wall St. News' started by Daal, Mar 25, 2008.

  1. Daal

    Daal

  2. I don't know what's scarier: His financial distress, or that fact that he may be typical of 'nuclear security' guards in this country.

    :eek:
     
  3. Mvic

    Mvic

    I feel for these people but that is globalization for you. You can't do a menial job in the US and expect to get well paid for it when there is a guy living in a tin shack eating rice every day of his life and walking to work and kids walking to school who is thrilled to do the same job for 10% of the money. This is the level playing field that Bush 1 kept going on about (while Perrot was talking about the giant sucking sound, the time for change was then).

    Create value, that is how to survive.
     
  4. Well said.

    Labor is now the cheapest commodity of all - it's what the NWO wanted for a long time, and it's only intensifying.

    Human labor is cheap. Humans are being treated accordingly.

    [It didn't help at all that U.S and Western Europe Labor Unions fleeced the goose that was laying the golden egg]
     
  5. YAWWWWNnnn

    More from the "COLLECTIVE" media to try and "Justify" a Socialistic bail out, the saving of bad loans, the redistribution of wealth with the TAX year of 2008.

    More bullshit "Touchy, feely, with the heart" articles.

    Pure evil comes at you unexpected, in the name of "Compassion" and feeling of the heart.

    WAKE THE FUCK UP AMERICA. This has nothing to do with Globalization. This has nothing to do with a "WORLD ECONOMY".

    It has every thing to do with the Socalist Mentality of this country.
     
  6. This was an interesting article - badly written but a good topic to look at. What I found remarkable was what terrible financial advice these people must have been given - or even whether they had sought out any professional advice at all. In almost every case, a simple 1 hour consultation with a good financial adviser (which I presume would cost $200-500 tops), and then following his advice, would in almost all cases have 100% guaranteed that they would not have got into their mess. Even the healthcare bankruptcies could have put some of their money into trusts or physical gold to keep it away from creditors in bankruptcy, as well as gotten more ironclad health insurance policies.

    If I ever got bored of trading, this article and numerous other similar stories would strongly tempt me to set up a financial advisory business in the US. For any Americans with an entrepreneurial bent, this would be a great opportunity to make a multimillion dollar fortune within a decade by simply providing sound, conservative financial and investment advice, and in the process helping normal people avoid disasters like the one featured in this article, and instead to get financial independence over the long-term. I don't understand why sound, high quality financial advisory firms there aren't all over this. Maybe they are simply going after much richer clients? Fair enough, but that should leave a gap for one-man-bands and smaller startup outfits to cater to Joe and Jane Sixpack.
     
  7. CUTTEN I DOUBT YOU ARE QUALIFIED TO BE A FINANCIAL ADVISOR FOR THESE PEOPLE.

    THEY WON'T LISTEN TO YOU, UNLESS YOU ARE A LOUD MOUTH, SEMI-EDUCATED, CONMAN WHO USES LOTS OF HAIR SPRAY AND CARRIES A BIBLE IN ONE HAND AND A WHISKEY BOTTLE IN THE OTHER.

    FURTHERMORE, YOU SHOULD KNOW BY NOW THAT EVERY GOOD DEED NEVER GOES UNPUNISHED. SO WHY WOULD YOU BOTHER.

    REGARDS:
     
  8. RhinoGG

    RhinoGG Guest

    or you could create a website (for almost nothing these days) and dispense your adivice to many joe & jane sixpacksfor a small fee.
     
  9. 9999

    9999

    Unfortunately, he's right.
    People don't want sound financial advice. So, what do they want? They don't know either. And by the way, that's true here in Italy as well. Just substitute the whiskey bottle with a wine one.
     
    #10     Mar 26, 2008