How much have you lost in the financial troubles?

saltyjack silverblade

I was finishing in University. This was the time you were sort of expected to spend a year in Australia 'maturing' before coming back to work in a company. Not a hope of a job nowadays and the friends that did go in to the companies are being treated like dirt. I was lucky that I didn't borrow money in uni for holidays etc or have credit card debt. I have never ever spent more than I have. So I am lucky from that point of view. Unfortunately I am looking at moving abroad in just over a year's time. Probably going to be in Japan or China. That is killing me. Horrible to be moved somewhere else and thinking 'this is where your new life is'. Slowly trying to get into it by learning mandarin which is helping.

johnk1960

MadsL wrote: »

Pretty much fcuks any career where moving would be advantageous.

Rent it out

Four years ago I was made redundant, along with my team of 5. From the business I built from scratch over 9 years. Little work since. Two years ago the wife of 10 years left, fed up of me and Ireland - can't blame her. But no hard feelings about any of it, the writing was on the wall. I was lucky enough to have saved some money - most before I came to Ireland. And during the boom I just looked at what was being asked for what and couldn't bring myself to pay those crazy prices.

A year ago I bought a repossessed cottage at a knock down price. Fortunately I had sufficient put by to fix it up the way I want and its just wonderful. A few more months and I will have it finished and be wondering what to do next. Sadly it looks like overseas for a few quid but I wish I could hit on something that would work here, create some jobs and some wealth.

As for the wife - I wish her heartfelt good luck, and I'm happy to be single for a while.

Its not all bad news.

Mike 1972

<Obligatary "bout tree fiddy" post>

Cant believe it took so long ?

Eight Ball

Have not lost a cent besides what the government takes in extra taxes. Tbh we didn't buy into the celtic tiger sh1te (still renting and drive a second hand 10 year old car).

OldNotWIse

Didn't technically lose anything - wages the very same now - should be higher...my two pay rises were pretty much absorbed by social charge and PRSI changes. Still, considering how many have taken reductions/lost jobs completely...I'm not too bad.

Bit of debt left over from the crazy credit years but my own doing and nothing I cant clean up in a few years.

Worse off now as paying college fees,rent, parents mortgage etc but personal choices nothing to do with recession.

My brother's wages have been halved. Dad lost a few grand in a bad investment.

Lost the country I grew up in, it will never be the same.

Have a little sympathy for those in -ve equity but glad I never bought into the hystericla jumping onto the property ladder and paying half a million for dog boxes

K.O.Kiki

Can't waste what you don't got.

krudler

Currently not much but haven't even started planning for a pension or anything, am 32 so really should, can't save what I don't got though. The future is looking pretty fcuking bleak and the thoughts of working until mid 70's is soul destroying.

Anyone

My house has "lost" 20-30k in value, but I'm not too worried about that as I dont intend to sell it. Bigger issue for me is how much less disposable income I have. Between rising costs and increased taxes, I recon I'm down around €700 p/m.

Agricola

Didnt have any money tied up in investments and didnt have a boomtime mortgage so Im lucky in that respect. My parents never had a bob to waste their whole lives but came into some money in late 07 and were told to invest it by BOI in a property fund. Lost around 20 grand in no time before they cut their losses. Absolute killer. It makes me so fúcking angry when I think about the avaricious cúnt who sold them on this crazy investment, telling them about great projections for the next five years. Still they got away light as it could have been a lot more.

whiskeyman

I didnt gain big during the boom as those around me seem to do and thankfully didn't really lose anything as I'd nothing much to lose anyway!
Was possibly close to buying somewhere, but thankfully kept renting. So flupping glad I did now...

Dyr

Lost me bollix, as they say

jank

WilyCoyote wrote: »

Pension fund all but cleaned out. S/E all my life and had to come out here 3 years ago to start all over again at the age of 64. Will now have to work 'til I'm 74 (2023) to get the minimum old age pension. It kinda make you fatalistic but hey, every day above ground is a good one And you can't take it with you.

I would shot your pension fund manager. Why didn't you put more of it in cash or bonds at your age?

This recession has thought me to be financially independant and that the most dangerous thing in the world is the government.

positron

I bought a house in 2005. Yeah.... In nevative equity by about 100k, and not to mention the huge downpayment and what not. Seriously out of pocket. And whatever little bit I had in pension fund seems to have halved as well - I am only 37 though. More importantly, I have lost the "option" to be able to move elsewhere if I wanted to (don't want to do jingle mail etc).

But life flows nonetheless - It doesn't really slow down for financial indexes to settle. Luckily everything has been smooth sailing in that respect - touch wood - as the old saying goes money will come and go, but hold on to your family and friends as they are for life etc.

OldNotWIse

pharmaton wrote: »

Nothing really, I may have gained slightly. I didn't own property but was able to save enough to get there at a time when it was more recently affordable. I also probably benefited from a system which enabled me to raise a child single handedly to adulthood without suffering extreme difficulty or poverty and only just scrapped into the last straight by helping her get a decent education to boot. I don't think it would be possible to do that now.

I think your username suits you!!

sixfingered

Having had little to nothing during the boom I haven't lost anything. I wish others - especially my close friends and family who got burned badly - had as much luck as me.

I was never "in the boom", as I was too stupid at the time to realize it was happening. I left school in the early 2000s having barely tried to do anything, and I'd not put myself in a good position to get a degree. Bummed around a community college for a couple of years doing pointless courses before settling into a retail job at the height of the boom and thinking I was set for life (told you I was stupid!).

Around 2007 I found myself unemployed and decided to give another course a go. Once again it was at the local community college and I just did it for something to get me out of the house. Luckily, I excelled in the course (though it wouldn't take much) and for the first time in my life I felt I had a bit of purpose and an appetite to follow through on something. Five years, a lot of hard work and some good luck later I have a moderately good career and I'm debt free (though I do rent).

who_me

Not as bad as others. My apartment is in negative equity - but it was always a home rather than an investment so it's not the worst. Just as I was getting my finances back on track we were put on a 4 day week (well, more like a 5-day 20% pay cut, since we still had to work to keep the company going).

Growing up in a small town in the late '70s early '80s means I remember the panic when the manufacturing sector pretty much disappeared and what that meant to local communities; I remember well my parents trying to reassure us when my Dad lost his job - which only made us worry more. The one thing you inevitably do learn is - you get by. It might be a monumental pain in the arse (Feck off recession!), you might have to do without some stuff, but you get through it.

IvaBigWun

MadsL wrote: »

Anyone know how those amazing deals on ski chalets in Bulgaria are riding out the recession

:pac:

jimgoose

Aside from dropping 100k or so on a blasted house (which I should've punted in 2006) I have thus-far fared better than many. I'm lucky.

yoloc

positron wrote: »

- as the old saying goes money will come and go, but hold on to your family and friends as they are for life etc.

I think youve got it wrong way around, friends come and go but its the money that you need in your life all the time