Recession 2.0: Readers Respond

When IT hits the fan

There are times in life that are easy and we just live day to day in a haze of activities not really knowing where we are going or what we are doing. Our life's purpose is what? I lost my job about one month ago and instead of running out and getting a new job. I have been taking some time to reflect on what my life is about and who I am. We need so little to live life, but what is it that we want to be that is the real question. Instead of searching for a job I am figuring out who I am and looking at businesses to start or buy that will reflect ME. AJC has lost much, but he still knows where he is going and who he is. Life is a journey and I have been just watching it pass by. It is time to set out and become who I am meant to be.

Ed of MN @ Nov 07, 2008 11:48:38 AM

Rich Folks Think Differently

I will have to agree with Adrian's comments that it is still about the fundamentals. Most of the people I have met who are truly rich do not tend to over-extend themselves with pricier "things" than they can afford. They continue to guard the hard-earned cash.

I think it depends on how hard one worked to earn that cash. Those who are "born" into money don't tend to learn these rules as much (or other good business rules - hence why many family business fail by the third generation.)

Good luck, Adrian, in protecting and growing what you have left!

of OH @ Nov 07, 2008 10:37:40 AM

Miss Polly Ann speaks

The writer mentioned that it's not all dire news for them...I know he was writing expressly about their financial situation. But I want to remind all of us that the things we own really are not important -- if we have decent health, family and friends who love us, we have everything.

I know I sound PollyAnna-ish, but my teenage son has a disease which has been causing him excruciating pain and other problems lately, and I realized once again that possessions are nothing -- the people we love, and their health (or at least pain-free existence) mean everything... it has been "killing me" to see him in such pain, and I would trade everything I own if I could get rid of this stupid disease he has to deal with...

Just some mom of IA @ Nov 07, 2008 10:32:36 AM

Article

It's probably harder for you to recover then most others because of the size of your investments making it a challenge to be liquid at any time compared to the average.

Although my bet is with you.

Josh of NY @ Nov 07, 2008 09:23:53 AM

Inspiring

The fact that you went from $30,000 in debt (a place where many Americans currently find themselves) to $7 million in 7 years is still an inspiration to me - and I discovered your blog and read your story a long time ago!

What's more though, is your sensible take on the current economy, and how willing you are to share your knowledge with those of us who are willing to listen.

If people only come away with one thing from your article, it should be:

"...the ‘cure’ is just the same as for you: We must decide if we can still afford the things that we own and the commitments that we have."

Instead of sitting back and dwelling over how much we've lost in our investments, or how hard it is to pay off debt & make ends meet - we have to just make sensible decisions about how we live our lives right now that can help us move into the future ahead of the game.

Debbie of NY @ Nov 07, 2008 09:17:48 AM