I paid down $A1000 of my Australian margin loan to reduce the risk of a margin call. It's one thing I can do to reduce anxiety. Still waiting to hear on the jobs. The money came from a credit card. I need to get paid soon.
I certainly commiserate with you on the pain that the current markets are causing. I'm early in my accumulation phase, having really only gotten started in the last couple of years. Since Nov 2007, my net worth is down significantly. But more depressing is the impact that would have happened if I hadn't been propping up my margin loans by saving 75% of my income - the net value of my portfolio is only about 15% of what I have put in. Hopefully it will all work out in the long run! My information is on networthiq as bigchrisb. Good luck, and try not to loose too much sleep at night!
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I certainly commiserate with you on the pain that the current markets are causing. I'm early in my accumulation phase, having really only gotten started in the last couple of years. Since Nov 2007, my net worth is down significantly. But more depressing is the impact that would have happened if I hadn't been propping up my margin loans by saving 75% of my income - the net value of my portfolio is only about 15% of what I have put in. Hopefully it will all work out in the long run! My information is on networthiq as bigchrisb.
Good luck, and try not to loose too much sleep at night!
Hi Chris - you're lucky to have been only saving significantly for a couple of years. Though I thought the same thing myself back in 2000-2002 :(
Luckily neither of us has to retire soon.
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