1) sticking with a stock that shot up in value right after its IPO. We rode it all the way down to zero.
2) not knowing that RMDs for inherited IRAs are a thing or that you pay 50% excise taxes when you don’t take them. 3) leaving $100k in a checking account for many years. 4) not realizing that tuition tax breaks were income capped. 5) not realizing that you get basically zero deduction for medical expenses. |
Wow…..this is both a humblebrag or just a brag and an admission of cluelessness. |
My FIL moved his late stage Alzheimer's mom from NJ to DE for this reason. Felt very cold at the time but honestly she was too far gone to know or care where she was and it allowed her to pass on millions more dollars than she would have if he hadn't bit the bullet. |
Same. If we had started looking two years ago we would have been able too stay in our neighborhood, but when we bought last year, we were priced out by several hundred thousand dollars |
COULD HAVE. |
+1 |
Same as some of the other posters. Too conservative when I bought the house and now can't afford to move up despite the equity gains. On the other hand, I do have a 2.75 and incredibly affordable mortgage and still in a nice area. But I still occasionally think only if I'd been willing to spend 15% more as the agent was saying I could do, I'd be in the house and location that would make me happy for life.
Other regret is leaving too much cash in a checkings account for years and letting inflation eat it away. Have moved most of that money out into various funds and money market account and only keep 5k in checkings. |
Yes, but why Paypal? Any other one would have been better. |
Bitcoin has cycles. It holds and then it comes down. Then up again and then down. |
Yikes. If only you put that in Bitcoin instead. |
PayPal was the very definition of a stock market bubble. I suppose when it was skyrocketing during early COVID it seemed like the entire world was transitioning to online transactions and investing here was a no-brainer. But then it crashed just as fast. It is hard to see a bubble when you’re looking through it from the inside. |
Yes, but $300k into one stock? I bought Tesla as it was going up like a rocket. Don't listen to DCUM, but Bitcoin is on its cycle, right? Let's hypothetically say you are buying half a Bitcoin now (don't) with the $30k and see where it goes from now to August/ September 2025. |
What part of this list of financial irresponsibility and cluelessness seemed in any way like bragging? |
I would’ve bought Bitcoin 6 months to a year ago. I wouldn’t buy Bitcoin now. |
Be thankful that you don't. Our medical expenses are incredibly high and the deduction is basically $0.20 on the $1.00. I'd rather not have enough to deduct. |