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STT Anzac Long week end thread 22nd April 2022, page-8

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Andy355

3,242 Posts.

171

22/04/22

19:22

Post #: 60977721
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Originally posted by Malaga: ↑

All idealism gets trampled in a crash. If you have ever lived through a share market or property crash you will find it is every person for themselves as a mad scramble occurs to save your butt. Not financial advice but with interest rates rising the very last thing I would be doing is taking on debt. One of my mates got hit with a triple whammy in 2008. Margin loan, job loss and divorce. He would have survived if they could have kept paying the loan. Bank wanted their money, wife could not handle it so ran. He had to sell everything to pay loan at the worst bottom of the market. Never ever recovered.

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Sounds like a hellish nightmare!
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