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STT Anzac Long week end thread 22nd April 2022, page-12

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golden6

11,459 Posts.

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22/04/22

20:48

Post #: 60978939
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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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Been there- until you have, can't even begin to appreciate how devastating it is. I just kept repeating to myself- What's rightfully mine, will always come back to me. Took a lot of hard work and luck, most has.
Most never ever recover especially women who are 50+
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