Saving log - $8 tip box
Spending log - $60 dinner (for two)
Was treated to the coffee and lunch, so I paid it forward and treated sweetie to a restaurant dinner. It included a very good folk singer/ satirist, so it was appetizer, dinner, dessert and a show.
It was a good antidote to the general craziness at work. Right now I'm just buzzing, thinking of all the things that I have to do. I have to calm myself, see what has to be done, and work my plan. I even went so far as to consult the I-Ching which told me to center myself, work the details and don't draw too much attention to myself.
DJ friend asked me to look at his 403B plan to identify a fund that is too crazy. Sounds a bit terrified that his 403B is dropping with the stock market. Said that his DW lost 100$, so she put everything in cash. Its hard to advise someone so risk adverse; they really can't put it in anything but cash so while they keep the numbers from obviously dropping, they don't see the stealth effect of inflation. The numbers stay up, sure, but when it costs twice as much to buy something in 18 years (at a 4% inflation, using the rule of 72), you've lost a lot.
I wonder if giving him an exercise would help - ask him to track his 403B total daily for a couple of weeks. It will go up, it will go down, it will go up again, it will go down. The idea would be to show that a $100 loss is nothing compared to the variation that those weeks would show. Of course, it might could freak them out even more.
February 1st, 2008 at 05:49 am 1201844999
February 1st, 2008 at 07:10 am 1201849801
It does take a certain faith to think that way especially when you first start out. It also helps if other family members have experiences with buying stock. My grandpa bought dividend stocks, showed us how, and didn't lose his shirt.
February 1st, 2008 at 07:21 pm 1201893685