Whats been your biggest financial blunder

jabbahut40

takesyourchances wrote: »

This is a mental tester alright for the passive investor approach, are you still buying into this fund on the lows by drip feeding through this?

If this fund was to rise the low cost buys during this low would be beneficial. This is a big test I guess during a big drop so interested to hear if you are still buying through the lows now?

Thanks.

Hi takesyourchances,

This was a switch from an underperforming persion into a SIPP held with HL so was intended as a one off transaction.

If I did have more money I would probably invest elsewhere as my pension already holds more than 10% in this fund and I would be looking to invest elsewhere for diverification.

Jabba

benalder284

1st marriage and subsequent divorce !!

Orange_juice_2

Buying a brand new car in cash.. roughly £10k however didn't buy quality had a minor accident and the car was a complete write off in an instant. Lost about 2k with insurance costs etc and now I can't afford car insurance so have to get about by motorbike EVERYWHERE, whatever the weather!

So yea.. not doing that again, buying older, higher quality cars for a lesser price next time!

20400keith

£8000 on a huge pond.

It was poorly designed, the liner always showed and it was a bit of an eyesore.

Last year it was filled in and turfed over.

sabretoothtigger

opinions4u wrote: »

Not selling HBOS shares after ploughing years of bonuses in to them!

I bought some Lloyds at 230p at 4pm and next day they were 330p I think it was, sold most but not all. Probably will never be that high again

libra10 wrote: »

When my husband was about to retire several years ago, I strongly recommended selling our Halifax privatisation shares.

What convinced you they should be sold. Just on the basis of risk or ?

Ive heard similar a few times, women have better instincts sometimes regarding risk avoidance
If only it'd been Lehman sisters as Harriet would say :laugh:


I might be one of the few here to regularly use Windows in the 1980's and I realised at the time how revolutionary and enabling that would be for many people.
Worst mistake is not buying Microsoft shares in 1990
I said they were a buy, thought about it, spent the money instead They went up about 5,700%

libra10

Sabertoothtigger When my husband was due to retire, I had already convinced him to cash in a Halifax UK Growth fund, which had brought quite a good return. But he wouldn't cash in the windfall shares, he saw it as selling 'the family silver'.

I just thought with his imminent retirement, cash would be a safer option, and in those days we had accounts bringing in over 7 per cent interest rates.

simarks

Buying a brand new car at 17. The car depreciated, the insurance was insanely high. I could have used those funds now to put a deposit on a house.

One of life's financial lessons learned early, however the car is still running fine and its been great, just wish I hadn't spent so much.

PeteW

Having four kids!

learning_every_day

Taking loan after loan from the age of 18 for cars, bikes and insurance - taking years to pay off! Myself and my girlfriend had almost 50k of consumer debt at one point. I think that would make me sick these days.

Although buying RMP shares at 72 cents last year (now around 5 cents) based on a tip from a colleague is up there too!

Xbigman

I've made too many financial mistakes to list but the biggest was borrowing £36k to buy RBS shares at £2.80 and £2.40 in 2008.
I bailed out at around 80p.



Darren