How Did 2008 Affect You?

[Rival]

How did the economic crash and resulting Great Recession affect you?

(Note: this is not a debate, not here to argue of what could have should have would have etc.)

 

[Revoltingest]

How did the economic crash and resulting Great Recession affect you?

(Note: this is not a debate, not here to argue of what could have should have would have etc.)

I lost most of my equity.
Many millions in the real estate crash.
Now I'm not sure how retirement will look in 10 or 20 years.

 

[Shaul]

I made a lot of money because of it.

 

[WalterTrull]

Nada

 

[Jayhawker Soule]

We lost a significant amount of 401k money, learned from it, and retired some 15 years later.

 

[Rival]

We lost a significant amount of 401k money, learned from it, and retired some 15 years later.

15 years? It's only been a decade!

 

[Cacotopia]

Made getting a job almost impossible. It's one of the reasons I'm over here in Indonesia, I was literally going to go to Iraq and work construction because of 2008, and was convinced to go to Indonesia instead.

 

[Cacotopia]

15 years? It's only been a decade!

I wonder what his finances are like now with mathematical errors like that

 

[David T]

I lost most of my equity.
Many millions in the real estate crash.
Now I'm not sure how retirement will look in 10 or 20 years.

I am retired. It's fine you just have to work is all. Think of it as forced socialising which isn't a bad thing actually approached correctly.

 

[Cacotopia]

Hope you dudes got bitcoins. Cause they would save you hineys right about now.

 

[sun rise]

The value of our house was cut into 1/3 of the prior value and below what we had paid for it in inflation adjusted terms. But we have lived here long enough to pay off the house so it was a paper loss. Being extremely conservative when it comes to investing, we lost about 10% of stock fund value. My wife's business dropped seriously but fortunately I kept my job.

 

[Revoltingest]

I am retired. It's fine you just have to work is all. Think of it as forced socialising which isn't a bad thing actually approached correctly.

At least I get to work for myself....groundskeeper (CGO), CFO, CIO, etc.

 

[David T]

How did the economic crash and resulting Great Recession affect you?

(Note: this is not a debate, not here to argue of what could have should have would have etc.)

Being in Construction and it being the worst drop in Construction since the great depression I just started my own business is all.

That became successful and I built a condo project and am now retired.

 

[metis]

How did the economic crash and resulting Great Recession affect you?

(Note: this is not a debate, not here to argue of what could have should have would have etc.)

I was very worried for one of our "kids" who owns his own business and was in danger of losing just about everything he owned. He took a major hit but survived.

 

[Orbit]

I lost my job due to state budget cuts, but got a job in a different state.

 

[Jayhawker Soule]

15 years? It's only been a decade!

Dang! You're right.

 

[Revoltingest]

Dang! You're right.

But you're right too, since the commercial real estate crash began in Sept 2001.

 

[Father Heathen]

How did the economic crash and resulting Great Recession affect you?

(Note: this is not a debate, not here to argue of what could have should have would have etc.)

The company I had worked at for 8 years started struggling (their products involved house construction, and when the housing market crashed people stopped building), so it was repeatedly sold off, changed incapable hands, mismanaged, and ran it into the ground. I gave my notice then moved on. It was actually a great place up until the few final years.

 

[Spiderman]

2008 was back when I abused drugs and alcohol... and pretty sure had a job I hated and went to community college and hated that!

So, it was a nightmare and embarrassing...life on drugs and alcohol always was...

 

[lewisnotmiller]

How did the economic crash and resulting Great Recession affect you?

(Note: this is not a debate, not here to argue of what could have should have would have etc.)

Not much, assuming you mean the GFC. My business had enough clients in the education, health and government sectors that our revenue streams were somewhat insulated.
The financial services industry plumetted, in terms of software investment, but that was more a blip than anything (for us).

On the other hand, if you mean how was my life impacted by the Celtics winning the title that year? Pure joy. We beat the Lakers, FFS.