The Observation Deck

Today I was speaking with a friend, whose very comfortable lifestyle ceased as of 3:35pm this afternoon. Married, over extended a little. Second mortgage to add kitchen, bathroom, deck and some other stuff. Doubled the price of their house. But because of bonuses of options, wrong place and wrong time with financial needs. It is all gone. Kids college fund, gone. retirement gone, 401K so small it matters not. New car, living within their means barely. Gone, She hasn't worked since the kids, and he was looking at a buyout. Kids in private schools 9 and 12, over. As he said, gone.

Please, please keep your eyes on friends. Stress levels are very high with economy, jobs, holidays, politics, and on and on. Please think of the other guy, or family.

This is not a political message.

Holiday seasons are tough, on many in the best of times.

You know sometimes, a person just needs to talk.

Support charities, help friends, be compassionate.

A friend sent me this this afternoon.

'Be kinder than necessary because everyone you
meet is fighting some kind of battle."



FWIW

Jim, maybe the deck could sponsor a food drive? repubs vs. dems .. just thinking outloud...

Also... maybe a toy drive....

It's very sad to hear the stories of people losing everything. It makes me so grateful for what my family has. Although right now other members of my family are near losing everything they own. It's a sad time when people who worked all their lives are seeing there retirement fund vanish. I do agree that we all need to be a little kinder, give people the benefit of the doubt and hope and pray that this mess will turn around soon.

Stephen Eisel wrote:Jim, maybe the deck could sponsor a food drive? repubs vs. dems .. just thinking outloud...

Stephen

We will help anyone raise money for charity. We are working on some pretty cool things for charity and churches. I would suggest to give until it hurts. Speaking with a couple different "directors" they are not surprised by the rise in needs, but in who is coming in.

This was a friend, not even that close, desperately needing to talk. Needing to hear that it was not over.

I mean what chance does a 56 year-old executive have when his buyout runs out? I could look and laugh and say buyout, I wish I had a buyout. I could tell him to diversify, though much was locked in, it sounded like. But this was a person that was crashing hard. So hard one of this first things I explained was, do not even think about, wife and kids will never be able to collect anything.

I am just hoping people are aware.

FWIW

We do need to extend a hand and have a ready shoulder. We also need to work on the systemic change to get things right.

It's going to be a long haul.

I'm very sorry for that man and his family. They can survive if they're tough, smart and willing to listen.

I worry a lot. If you look back and see what a lot of folks did when the stock market crashed in the 20's.

sharon kinsella wrote:We do need to extend a hand and have a ready shoulder. We also need to work on the systemic change to get things right.

It's going to be a long haul.

I'm very sorry for that man and his family. They can survive if they're tough, smart and willing to listen.

I worry a lot. If you look back and see what a lot of folks did when the stock market crashed in the 20's.

Sharon

No sense worrying, what will happen will happen.

Huge problem, in the 20s we were a manufacturing center of the world.

While there is talk about China worker's pay going up and fuel costs could bring manufacturing back to the USA. I cannot see that making any difference over the next 5 years.

One of my first posts on the deck was, "Bad news - We are going third world. Good news - We are all going third world together."

However, where my fall from grace can be measured in inches, some are measured in feet, yards or miles. I am not talking about "greedy" investors, I am speaking of the person that did it "correctly." Invested for security and future, not for millions. Imagine living the "frugal life" saving for you children's education, and that retirement vacation, and now it is gone.

It will get very tough and very ugly. i am amazed at how many think, next week the bailout kicks in and all will be good. The fact is some of the more serious ecnomist see this as the first of many bailouts in the trillions. The market does not go from 8,700 points back to 14,500 in days or weeks.

FWIW


.

You're right and I think we can help each other make it through, but a lot of people are going to have to change their lifestyles and that's not a bad thing.

Not good to lose everything you've worked for, but it does happen everyday and people survive.

I hope your friend finds hope in whatever manner he can and I know you will be there to talk with him and be a friend.

All you can do at this point.