Comments on: Responsibility, The Spurts, and Taking Charge http://gailvazoxlade.com/blog/archives/270 Tue, 22 May 2012 16:11:49 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Saver Queen http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3536 Saver Queen Tue, 02 Dec 2008 20:52:31 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3536 Mountain Girl, thank you so much for your kind sentiments. Getting this kind of support means the world to me. And if it helps to encourage you and your husband to add to your emergency fund then I feel much better, because I know that at least this circumstance can help someone else! Also, I second your motion re: Gail in the House of Commons! Haha! Could our government benefit from the jars, or what! Tracy J - it's not fair at all that responsible people like you have had to watch their savings plummet. I don't know what the answer is, but I'm skeptical of people saying, "oh, it'll come back up." In some cases, the money has to more than double just to break even. If someone is planning on retiring in say, 10 years, is that a reasonable expectation? But as for a good alternative - taking out your money and putting it elsewhere - I wouldn't have a clue as to where to put it. Still a mystery to me too. Mountain Girl, thank you so much for your kind sentiments. Getting this kind of support means the world to me. And if it helps to encourage you and your husband to add to your emergency fund then I feel much better, because I know that at least this circumstance can help someone else! Also, I second your motion re: Gail in the House of Commons! Haha! Could our government benefit from the jars, or what!

Tracy J – it’s not fair at all that responsible people like you have had to watch their savings plummet. I don’t know what the answer is, but I’m skeptical of people saying, “oh, it’ll come back up.” In some cases, the money has to more than double just to break even. If someone is planning on retiring in say, 10 years, is that a reasonable expectation? But as for a good alternative – taking out your money and putting it elsewhere – I wouldn’t have a clue as to where to put it. Still a mystery to me too.

]]> By: Ajana http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3545 Ajana Tue, 02 Dec 2008 03:50:25 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3545 After 'queuing' for a few weeks at the local library, I have finally borrowed a copy of "Crash Proof: How to Profit from the Coming Economic Collapse" by Peter Schiff. He wrote in 2006 and it was published in 2007. He explains clearly what will happen (has happened) and why it will happen (it happened). I wish I had read it last year; although I had a good inkling about what was going to happen, reading Schiff makes it so blindingly obvious now. But what surprised me is the level of manipulation by governments to hide the truth and the outright greed of those on Wall street (and elsewhere). I'm not dwelling on the past but using this book to learn lessons for the future. As Gail said: "At the end of the day, what you don’t understand can end up costing you big time." After ‘queuing’ for a few weeks at the local library, I have finally borrowed a copy of “Crash Proof: How to Profit from the Coming Economic Collapse” by Peter Schiff. He wrote in 2006 and it was published in 2007. He explains clearly what will happen (has happened) and why it will happen (it happened). I wish I had read it last year; although I had a good inkling about what was going to happen, reading Schiff makes it so blindingly obvious now. But what surprised me is the level of manipulation by governments to hide the truth and the outright greed of those on Wall street (and elsewhere). I’m not dwelling on the past but using this book to learn lessons for the future. As Gail said: “At the end of the day, what you don’t understand can end up costing you big time.”

]]> By: Andrea http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3544 Andrea Tue, 02 Dec 2008 03:39:33 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3544 "A Woman of Independent Means" by Gail...should've spell checked : ) “A Woman of Independent Means” by Gail…should’ve spell checked : )

]]> By: Andrea http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3543 Andrea Tue, 02 Dec 2008 03:31:05 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3543 I love this blog..it scares me a bit and that's a good thing. I'm bookmarking this so I can continue to read & reference it. If I thought I was serious before about saving money, this blog stirs an urgency inside me, for sure, now. I just picked up "A Woman of independent Mean" written by Gail from the Library a couple of days ago and just started reading it. So far it's fantastic!(Gorgeous picture on the back cover, Gail, from a few years back : ). Plus, I'm really looking forward to receiving my copy of the Daytimer..then I can cart it around with me wherever I go for a constant reminder and a great tool. Thanks Gail for all you do. I love this blog..it scares me a bit and that’s a good thing. I’m bookmarking this so I can continue to read & reference it. If I thought I was serious before about saving money, this blog stirs an urgency inside me, for sure, now.
I just picked up “A Woman of independent Mean” written by Gail from the Library a couple of days ago and just started reading it. So far it’s fantastic!(Gorgeous picture on the back cover, Gail, from a few years back : ).
Plus, I’m really looking forward to receiving my copy of the Daytimer..then I can cart it around with me wherever I go for a constant reminder and a great tool.
Thanks Gail for all you do.

]]> By: Mountain Girl http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3542 Mountain Girl Mon, 01 Dec 2008 23:36:15 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3542 Oh, and for what it's worth, I nominate Gail as our new Finance Minister. Hell, Prime Minister, too, while we're shifting parliament around! There are some Fundamentals that should not have been forgotten and they apply to governments as well as to households. There have been plenty of signs that our global economy was heading for a precipice. I'd say there have been warning signs for the past two years, at least. So for the current government to pretend that they didn't see it coming makes them either dishonest or incompetent. Neither quality is going to help us through the hard times. On the other hand, I don't know if bail-outs from a coalition government are the solution, either. So what is? I think it's obvious: the House of Commons needs to learn how to use the Magic Jars and do a few Relationship Rescues over the next few weeks! Gail may not be able to do this from a seat in parliament, but I'm sure the taxpayers of Canada would shell out plenty for the privilege of watching her put the MPs through the TDDUP process. Oh, and for what it’s worth, I nominate Gail as our new Finance Minister.
Hell, Prime Minister, too, while we’re shifting parliament around!
There are some Fundamentals that should not have been forgotten and they apply to governments as well as to households.
There have been plenty of signs that our global economy was heading for a precipice. I’d say there have been warning signs for the past two years, at least. So for the current government to pretend that they didn’t see it coming makes them either dishonest or incompetent. Neither quality is going to help us through the hard times. On the other hand, I don’t know if bail-outs from a coalition government are the solution, either.
So what is?
I think it’s obvious:
the House of Commons needs to learn how to use the Magic Jars and do a few Relationship Rescues over the next few weeks! Gail may not be able to do this from a seat in parliament, but I’m sure the taxpayers of Canada would shell out plenty for the privilege of watching her put the MPs through the TDDUP process.

]]> By: Mountain Girl http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3541 Mountain Girl Mon, 01 Dec 2008 23:25:50 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3541 Before I started investing anything, I read a book called "The Naked Investor". You want evidence on the "Spurts" not necessarily having your best interests at heart? Holy moly! Plenty of horror stories out there about people trying to perform due diligence who got fleeced in a relatively unregulated market. I almost did shove my money in my mattress after that book! I'm with you Tracy J - I know that risk is part of the cycle, but I am concerned that some of the fundamentals that Gail talks about in this post, HAVE, in fact shifted. I don't mean emergency funds and savings and having a will and enough insurance, or things like that. I mean in regards to the marketplace. I don't feel like there is a safe source of information. I am trying to educate myself, but trying to teach myself how to interpret the figures in a prospectus is not easy. I don't always trust that I'm reading it right. I think that the market is full of deceptive products and misinformation and I get really nervous that I am not going to spot the bad stuff before it's too late. So, logically, I should turn to a professional for help, right? Except, how far do I trust? I have a financial advisor that has helped me get all the insurance, savings, wills, etc in order. I have liked her approach so far, but I have to keep reminding myself that she earns commissions off those insurance policies. And she'll be earning commissions off any funds or stocks she sells me, too. I don't mind that she makes a living that way, but it does make me less willing to trust all of her advice. Maybe that's a good thing? Except that part of why I'm there is that I don't understand all of the products and options out there. It's going to take me awhile to absorb it all, and meanwhile, do I just leave my cash in a savings account? Do we ride out the storm, or is this particular storm changing the landscape into something unrecognizable? Or am I just reading too many financial blogs that are doom and gloom-based? :) One thing I do wish is that real estate agents, mortgage brokers, financial advisors and the rest of the financial marketplace worked on salary, not on commission. I would feel like there was more concern for my interest (and less for their own) in any advice I was given, if they didn't see my cash as a percentage of which they might get a cut if they could just make the sale. It is not easy finding a financial advisor who does work for a set fee, however. Anyway, Tracy J, markets do bounce (creep?) back, but not always quickly. Japan is still dealing with a market collapse some 15-20 years later. I guess part of figuring out your risk tolerance is deciding if you can wait that long? Saver Queen - I am really sorry to hear about all your bad news, but I'm also really impressed by how well set up you and your husband are to deal with it. You should be really proud. It makes me look at our situation and wonder if we'd do as well if we got as many blows in such a short timeframe. I think I'll start working on another month's worth of emerg fund. Thank you for your story and good luck with everything. Before I started investing anything, I read a book called “The Naked Investor”. You want evidence on the “Spurts” not necessarily having your best interests at heart? Holy moly! Plenty of horror stories out there about people trying to perform due diligence who got fleeced in a relatively unregulated market. I almost did shove my money in my mattress after that book!
I’m with you Tracy J – I know that risk is part of the cycle, but I am concerned that some of the fundamentals that Gail talks about in this post, HAVE, in fact shifted. I don’t mean emergency funds and savings and having a will and enough insurance, or things like that. I mean in regards to the marketplace.
I don’t feel like there is a safe source of information. I am trying to educate myself, but trying to teach myself how to interpret the figures in a prospectus is not easy. I don’t always trust that I’m reading it right. I think that the market is full of deceptive products and misinformation and I get really nervous that I am not going to spot the bad stuff before it’s too late.
So, logically, I should turn to a professional for help, right?
Except, how far do I trust?
I have a financial advisor that has helped me get all the insurance, savings, wills, etc in order. I have liked her approach so far, but I have to keep reminding myself that she earns commissions off those insurance policies. And she’ll be earning commissions off any funds or stocks she sells me, too. I don’t mind that she makes a living that way, but it does make me less willing to trust all of her advice. Maybe that’s a good thing?
Except that part of why I’m there is that I don’t understand all of the products and options out there. It’s going to take me awhile to absorb it all, and meanwhile, do I just leave my cash in a savings account?
Do we ride out the storm, or is this particular storm changing the landscape into something unrecognizable? Or am I just reading too many financial blogs that are doom and gloom-based? :)
One thing I do wish is that real estate agents, mortgage brokers, financial advisors and the rest of the financial marketplace worked on salary, not on commission. I would feel like there was more concern for my interest (and less for their own) in any advice I was given, if they didn’t see my cash as a percentage of which they might get a cut if they could just make the sale. It is not easy finding a financial advisor who does work for a set fee, however.
Anyway, Tracy J, markets do bounce (creep?) back, but not always quickly. Japan is still dealing with a market collapse some 15-20 years later. I guess part of figuring out your risk tolerance is deciding if you can wait that long?

Saver Queen – I am really sorry to hear about all your bad news, but I’m also really impressed by how well set up you and your husband are to deal with it. You should be really proud. It makes me look at our situation and wonder if we’d do as well if we got as many blows in such a short timeframe. I think I’ll start working on another month’s worth of emerg fund. Thank you for your story and good luck with everything.

]]> By: Tracy J http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3540 Tracy J Mon, 01 Dec 2008 22:32:07 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3540 Asking questions is fine, but where to get the real answer can be SO TRICKY to a layman like me. This whole world market caca is really bizarre to me... I new our system couldn't sustain its grotesque consumption at that pace (frankly I am surprised it lasted as long as it did), but why did it blindside so many people? I NEVER trust that the money just has to be there! Even before Gail, I never thought in gross paychecks, either. Maybe I was a bit blessed growing up in a chronically "broke" self-employed family? (Nevermind, my sister grew up in the same household, and she is the credit queen!) It is tragic the dive-spin that has happened when common sense may have prevented it (or a t least really dampened it) all in the first place... AND now that the major players are falling apart, how does that effect those of us that have always lived within our means? Are we sheltered any more than those that are credit crazy and over extended every single month?? I lose my breath when I see my RRSP statements, the money would have been safer in a matress, but since I am not relying on it for some time yet.... does that mean I am "safe"? I KNOW I haven't technically LOST any money until I sell ... so theoretically I haven't lost a thing! Do I keep contributing money to the sinking ship and cross my fingers that it has to work out in the end? I believe in my heart that it has to bounce back to some degree.... maybe not to the gains it was at before, but at least it's a savings of some kind... right? (oh please). Asking questions is fine, but where to get the real answer can be SO TRICKY to a layman like me.
This whole world market caca is really bizarre to me… I new our system couldn’t sustain its grotesque consumption at that pace (frankly I am surprised it lasted as long as it did), but why did it blindside so many people? I NEVER trust that the money just has to be there! Even before Gail, I never thought in gross paychecks, either. Maybe I was a bit blessed growing up in a chronically “broke” self-employed family? (Nevermind, my sister grew up in the same household, and she is the credit queen!)
It is tragic the dive-spin that has happened when common sense may have prevented it (or a t least really dampened it) all in the first place… AND now that the major players are falling apart, how does that effect those of us that have always lived within our means? Are we sheltered any more than those that are credit crazy and over extended every single month??
I lose my breath when I see my RRSP statements, the money would have been safer in a matress, but since I am not relying on it for some time yet…. does that mean I am “safe”? I KNOW I haven’t technically LOST any money until I sell … so theoretically I haven’t lost a thing! Do I keep contributing money to the sinking ship and cross my fingers that it has to work out in the end? I believe in my heart that it has to bounce back to some degree…. maybe not to the gains it was at before, but at least it’s a savings of some kind… right? (oh please).

]]> By: Saver Queen http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3539 Saver Queen Mon, 01 Dec 2008 22:29:20 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3539 Gail, thank you so much for this kind note. It cheered me up immensely to receive a thoughtful note like this from you and in fact your kindness nearly brought tears to my eyes. I'm so touched that you took the time to write this comment. You do so much for your fans and I hope you know what a positive difference you are making. It's not just your practical advice that you so readily share, it is your humour, genuineness and true dedication to helping others that really stands out. Gail, thank you so much for this kind note. It cheered me up immensely to receive a thoughtful note like this from you and in fact your kindness nearly brought tears to my eyes. I’m so touched that you took the time to write this comment. You do so much for your fans and I hope you know what a positive difference you are making. It’s not just your practical advice that you so readily share, it is your humour, genuineness and true dedication to helping others that really stands out.

]]> By: admin http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3538 admin Mon, 01 Dec 2008 21:23:17 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3538 SQ: I am so sorry to hear about what has happened to you and your honey. Whenever the caca hits the fan like that it takes a person's breath away. I doesn't matter how well prepared you are, it feels like the rug has been pulled out and you're at a loss as to what to do next. Good for you for having prepared for the worst. Just remember to breathe, to smile at each other a lot, to hug and kiss and tickle and hug some more. You have a wonderful life in front of you, and this setback will teach you what stern stuff you're made of. Kisses, g SQ: I am so sorry to hear about what has happened to you and your honey. Whenever the caca hits the fan like that it takes a person’s breath away. I doesn’t matter how well prepared you are, it feels like the rug has been pulled out and you’re at a loss as to what to do next. Good for you for having prepared for the worst. Just remember to breathe, to smile at each other a lot, to hug and kiss and tickle and hug some more. You have a wonderful life in front of you, and this setback will teach you what stern stuff you’re made of. Kisses, g

]]> By: Saver Queen http://gailvazoxlade.com/blog/archives/270/comment-page-1#comment-3537 Saver Queen Mon, 01 Dec 2008 18:07:00 +0000 http://www.gailvazoxlade.com/blog/?p=270#comment-3537 Gail, I wish to thank you for this advice and all the advice you've doled out through your blog and tv show. I'm so grateful to you. As many readers here already know, on Friday, at the end of the day, my partner was told by his employer that no one would be getting a pay cheque. He is paid once a month so he lost his entire month's pay cheque - plus a $500 expense cheque he is owed. He brings in about 75% of our income and I just quit my job to start my own business - plus we are moving soon and with the holiday season there are plenty of expenses coming up. Thankfully I had listened to you and built an emergency fund. Not quite 6 months worth, but it should cover us until he starts his new job (sensing this was coming he put the wheels in motion months ago to get a new job and starts on Jan.5th.) I am not without stress, but very thankful that we lived below our means this year and kept enough cash liquid. I am only 27 and I am putting steps in place for a solid future, thanks to your advice. Just one more comment about being too lazy too learn. I was told to open an investment account far too early. Not knowing anything about investing, I put my money in there and didn't do anything with it. I earned zero interest on it (I had about $15,000 in there for about 6 months) and actually paid big inactivity fees. I ended up extracting the money bit by bit and spending it on living expenses here and there. The money I had once planned to invest sensibly just got frittered away, simply because I didn't bother to learn about my options. It felt foreign to me, so I just stepped back. I learned a valuable lesson, though - take the time to learn, even if it makes you feel uncomfortable, even if it is not second nature - take the time to learn about money! Thanks again for your advice. Gail, I wish to thank you for this advice and all the advice you’ve doled out through your blog and tv show. I’m so grateful to you. As many readers here already know, on Friday, at the end of the day, my partner was told by his employer that no one would be getting a pay cheque. He is paid once a month so he lost his entire month’s pay cheque – plus a $500 expense cheque he is owed. He brings in about 75% of our income and I just quit my job to start my own business – plus we are moving soon and with the holiday season there are plenty of expenses coming up. Thankfully I had listened to you and built an emergency fund. Not quite 6 months worth, but it should cover us until he starts his new job (sensing this was coming he put the wheels in motion months ago to get a new job and starts on Jan.5th.) I am not without stress, but very thankful that we lived below our means this year and kept enough cash liquid. I am only 27 and I am putting steps in place for a solid future, thanks to your advice.

Just one more comment about being too lazy too learn. I was told to open an investment account far too early. Not knowing anything about investing, I put my money in there and didn’t do anything with it. I earned zero interest on it (I had about $15,000 in there for about 6 months) and actually paid big inactivity fees. I ended up extracting the money bit by bit and spending it on living expenses here and there. The money I had once planned to invest sensibly just got frittered away, simply because I didn’t bother to learn about my options. It felt foreign to me, so I just stepped back. I learned a valuable lesson, though – take the time to learn, even if it makes you feel uncomfortable, even if it is not second nature – take the time to learn about money!

Thanks again for your advice.

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