Home Forums Hunting & Shooting Hunter's Campfire Worst financial decisions?

I’d probably start crying if I told all the mistakes I’ve made. Hasbeen

Buying chia pets is never a good long term financial goal.

Do we mention the time I took a "vacation" to head to Lake Placid in 1979? A long roundabout trip, visiting old "girlfriend" and partying a lot along the way. With intentions of getting to the Olympic Village construction, earning some money, and getting to watch the HOCKEY tournament. You know, the Miracle On Ice one? The one I missed because I was completely broke when I hit Harrisburg PA.

I did that instead of using the cash I had on hand for a down payment on the house across the street from my folks. The one that sold a year later for $19000 more than I would have paid for it. 19 Grand in 1979 wasn't a bad wage for a full years work, not to mention a tidy profit on a small house.

Of course, I could have bought cheap land in any of numerous "rural" areas in SoCal, which quickly became suburbs. Think Moreno Valley, Temecula, Ramona, Antelope Valley.

And I could have thought more highly of computers and gotten some training in using them, or even just invested in some early computer stock. But no, I had a good paying job, turned 21, chased girls, bought new cars, etc etc.

Didn't get back on track until I was in my mid 30's. Then was a starving student for 4 years, and a low pay scale employee for a few more. Eventually, I did OK, but boy would I like to do it over again sometimes.

Geno

One of the businesses I started second official day of business was 9/11/01.

It's all a part of the learning process and adventure. If we'd have done everything right, we'd have some pretty boring stories to tell.

That isn't a bad decision. That's bad timing or more accurately, bad luck.

Tell me about the dumb ways to buy a boat and if there’s ever a smart way. We are threatening to buy one as soon as this coming spring. Our kids are still pretty little at 1 and 3 so I could definitely make an argument to put it off. But the financial part, was it financed or bought cash? Just piddling money away on constant repairs and maintenance and not factoring that into your budget? Spent too much on a toy? Don’t use it enough?

The system encourages buying unaffordable things on credit so they have to work until death.

My finances are in pretty good shape and I max out my 401k along with having a pension, but I have a weakness for vehicles as well. Typically always have three, kinda shake when I only have two and more often than not have four. Usually flip a half dozen a year after buying them with various issues, but have two kinda garage trucks at the moment that don't really get used as much as they should and the two I typically drive were project vehicles that are wroth 2-4x what I have in them.


Oh well, worse problems to have.

Opened a used car tote the note lot.Worked 80 hrs a week at my oilfield job chased cars in the bad part of town on my day off.

expensive thing to hang clothes on

Buying a Bristol Bay gillnetter sight unseen,,$200.000 mistake,,,,,,,

With out a doubt my first wife... almost ruined me

Not selling thousands of shares of CLRN at $175, because it was closed to employee trading at the time. Not an illegal act, but one that would have had me terminated.

Dave, a fellow employee that also had some angel investor shares, said WTF and sold at least 50K shares at that point. A lot of us co-workers were shocked. "How could he do such a thing?". Now, he's my hero, and I tell his story to my kids. "Ain't no job worth $X,XXX,XXX if you're a good employee. Take the sure money and move on to the next gig"

Horses..

Yep, that first marriage was 7 years of hell, emotional and financial, that took the next 20 or more to get over. Probably wouldn't have survived it without Mrs. number two! 43 years and counting this time around!
Jerry

I gave around 2 grand for my aluminum fishing boat about 5 years ago. I've spent a few hundred on routine maintenance, and have really enjoyed it so far. It should be worth a bit more than I paid for it. A boat doesn't have to break the bank.

Buying cheap batteries at dollar general instead of energizer,s for my Ronco pocket pussy.

Lesson learned....

Had ta take matters into my own hands when those DG batteries petered out.....

As I mentioned on another thread - selling a 1966 Shelby GT 350 in 1974 for $2500. Also, turning our investments over to an investment professional at Paine Webber in 1999 who loaded us up with a bunch of tech stocks just before the tech crash. We've done much better since due to my wife took over our investments. Helps to marry an economics major.

Seems many mention boats, I'm like gregintn, buy quality aluminum boats with four stroke outboards, very little maintenance and tons of fun, with great resale.

Again bad wives, the most expensive thing a guy can do by a long shot....