Hunkering Down

I have been taking the advice of financial writers who suggest not opening up your statements. Anyone with money outside of GICs, term deposits or bank accounts know (how could you not know) it will hurt.

There are a lot of good reasons why you should follow this advice but I needed to figure out my net worth so I tore open the latest statements and my heart sank.

The quick and dirty calculation is that the investments have dropped about 50%. This is just simple math- I am not figuring in the interest on money borrowed from my personal line of credit to invest. This makes it worse.

The theoretical money I have lost would have fixed my house completely and then some. Sigh.

Memory is a funny thing- clouded by our perception, biases etc- but I recall crystal clear moments where I should have gone with my instincts and didn’t.

Shoulda. Woulda. Coulda.

What do I do now??

I have to do the “easy” things that I have been neglecting and will bite me in the @ss eventually. Some are not so easy now because I have put them off for so long but baby steps.

I have been doing some research and have finally settled upon a discount brokerage. I will get that set up next week.

I am organizing all my financial paperwork this weekend- this will hurt. The idea is to take a hard look at my investment history.

When that is done, I will organize all of the stocks I want to track onto a master spreadsheet. It will make it easier to track and then I can systematically ask the companies directly for annual reports. 

Who needs sleep, right?

I have thought a lot about taking more control over my investments but I have been dragging my heels. I have to commit to the discipline necessary to do this right. I am keenly interested in this so it shouldn’t be a chore, I hope.

I have always been frugal and will continue to be (even when the current hipness associated with frugality fades). Maybe tighten the belt a little more. One drink and not three, buy thread and notions to rework the clothes I have instead of buying new (or used), continue going through my food and non-perishables hoard, look for another source of income….

I will be able to rebuild my cash stash back- it is just a question of time.

I just have to be smart about things, evaluate the opportunities as they present themselves and keep moving forward.

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~ by angryegg on May 15, 2009.

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