The Survival Podcast Forum

Finance and Economics => The Money Board => Investing and Saving => Topic started by: BigDanInTX on September 29, 2008, 03:02:15 PM

Title: (*SIGH*) Being Knowledgeable - Pitfalls
Post by: BigDanInTX on September 29, 2008, 03:02:15 PM
So, I'm sitting in my office trying to debug this application crash when a coworker comes in with a panicked look.  "The bailout failed!"

Step out of the fog of my brain and blink.  Ahhh...  the bailout.  It failed?

Just voted...  my 401k...  what do I do?  Lost money.  Retirement.

So many words, just catching bits of what he's saying.

Fortunately, my office mate steps in and lets me catch up.  He's talking about how he's worried about his 401K and how it's now in bonds, but with bond yields dropping, he's considering cashing out.  I told him he needs to sit down and wait.  Let the panic stop and then come back.

He comes back in a little while later and asks me what he should do.  Insert disclaimer here...But, you have to think of this from a common sense perspective.  How long does it take to cash out?  How do you know that you'll cash out at the best time?  Can you convert it to an IRA?  (And thus, do you know how to manage it?)

Finally, he decided to weather the storm and ride it out.

Then, I IM'd him the podcast info and told him to start listening at Ep55.  At the very least, he can hear how everything progressed and who the real culprit is.

Sometimes it's difficult to be "a leader".  I don't put this title on myself, merely apply it because he turned to me for advice.  He came to me because I seemed calm in the face of a coming tidal wave of financial disaster and unrest.  The same can be told for anyone who's "prepared".  Whether financially, physically, in a true survivability sense, or just sheer knowledge.

Those of us here will need to prepare ourselves not only for what's coming...  We also need to prepare for those who will come to us asking us what they need to do.  Are we all Alphas?  Is that possible that all the Alphas through the country are gravitating here to better ourselves?  Instead of Alphas in the wild developing these skills on our own, we higher beings...coming together and sharing our ideas and our knowledge?  Is it possible because we have the higher knowledge that we are not actually competing with each other?

Be ready for people to look to you for answers.  Be prepared for some answer...even when you have none to give.
Title: Re: (*SIGH*) Being Knowledgeable - Pitfalls
Post by: ColdHaven on September 29, 2008, 03:17:12 PM
I have talked with various co-workers over the last week or so. I don't think the gravity of all of this has struck them yet. Many of them seem to understand the problem, but its as if it will be magically whisked away at the last minute. I tried not to give them any inkling that I was preparing stores of food or supplies, but I tried to impress upon them that they need to prepare and quick. Of course, no one asked me this. I just volunteered it. You are right, though, many of people running around panicked are going to realize quickly that some of us are not, and that is going to make them wonder and ask questions.

 I do not have stocks or 401K or anything like that. I try to get what I can from where I work to make sure my family lives a good life. I guess I would be more worried if I had alot of stocks and such. I have been preparing for several months, and now it looks like I will have to redouble my efforts. Things will be better if we keep our heads. Unfortunately, people like us do not run the Government. Could you imagine if we did? lol  :o