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Reply to "What were your biggest financial mistakes?"
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[quote=Anonymous]I’ve managed our money pretty well over the years, but everyone makes mistakes. Looking back, my biggest mistake was my ill timed purchase of a vacation rental home in the Outer Banks. I bought it right before the market crash of 2008 and its value dropped by nearly 50% almost overnight. I sold it close to 10 years after I bought it at a huge loss. Fortunately, because it was a rental property I could deduct the loss from my taxes so that cushioned the blow by close to half, but I still lost a couple hundred thousand dollars.[/quote]
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