Rather than waiting till 65 and having regrets, would it not be better to take back control of your life sooner? Poor financial planning. It wasn't that expensive for me, which was great because I was putting a ton of extra money into my student loans every month. Stayed 4.5 years at a job where I knew I was being underpaid because I was doing well according to my bosses and I had high hopes for a large pay increase. The transcripts (worth 3 years of my life commuting to New York City every weekday) only bought me a year's worth of credits at Monmouth University where I spent another 3 years just to finally earn my bachelors degree in communication. We've been breaking even on it, but someone else has been paying the mortgage over these years. Press J to jump to the feed. it's cliche, but that was the best thing to happen to me. I've been thinking about FIRE a lot lately. Our greatest investment feels like our greatest burden. Yhup. Does anyone else have a financial decision/mistake that they deeply regret? I can't imagine staying at a job that long. My biggest financial regret is buying a used car after getting my first salary. Frugality is the mental approach we each take when considering our resource allocations. Think about how much compounded interest I missed out on. It's enough money in which a week and a half's pay equals one student loan payment. My homes value has plummeted since we first bought. Did you at least save a screen shot so you can post to r/wallstreetbets for instant mod status? However, I can't stop thinking about how much better my financial situation would be if I had that money. We bought a house for 125, it's currently worth 80! But I don’t regret it. But think about why the rearview mirror is so small compared to the windshield—because you drive by looking forward, not backward! worked there for nearly four years, half of which was spent trying to ratchet up the nerve to quit and do anything else, but, you know, fear and bills and stuff. But that day never came and I left that job for an immediate 23% raise plus an extra week of vacation. Pop singer Lily Allen (estimated net worth £6m) once turned down a BitCoin deal to play an online show worth an estimated £118m at today’s rates. For this regret we go back again to university. this might be the worst one, congrats I guess? The vast majority of us have some financial decision we wish we could undo. Financial Freedom means you do not need to concern yourself about appearances or what others think about you. After you achieve Financial Freedom, every day of your life is a weekend. 3 months ago. in the end I make more money and work on projects I actually like with much cooler people and everything worked out, but man, I wonder what would have happened if they just let me sit in that desk forever taking the easy boring safe way out. Happiness is a choice you are free to make. Games. I took a beating on it. More than 1 in 5 Australians say poor financial planning is their greatest financial regret. Otherwise I'd still be there. Reddit gives you the best of the internet in one place. I graduated with 125k in debt and obviously lost another 55.5k as a cherry on top. This bad photo is from my graduation from Katharine Gibbs in 2006. They filed for bankruptcy later. I have yet to find job satisfaction. As Dave Ramsey is known for saying, sometimes we need to pay a lot of “stupid tax” before we wise up. When over 500 recent graduates were surveyed by Accounting Principals, they reported 3 big financial regrets about their college career (read the full report): They wish they had more actively pursued scholarships and financial aid. Do any of these sound familiar? Whether your financial regrets run from minimal to catastrophic, the important thing is to accept the past and do everything you can in the present to get back to financial wellbeing. I am now working as a paralegal so things are OK but I really should have looked around more. Even worse, I put $50k worth of renovations into it. ... LinkedIn, and reddit. financial regret financial regret financial regret financial regret financial regret financial regret financial regret financial regret financial regr. In this video you’ll get a behind the scenes look at the regrets I’ve made financially. Although I paid it off very rapidly, I realize getting this debt in the first place was one of the dumbest things I ever did by far. In fact, it can do us good to think about these regrets now and then. I honestly thought I'd be living there for a long time. Me too. The u/Financial-Regret-85 community on Reddit. The only reason I left cause I went through a breakup and needed some change. Criminal justice degree. Soon after, I decided I would take out a loan for school to dig myself out of that hole. 1. After a while experience trumps education. I came into a 100k insurance policy when I was 18 and decided to attend an overpriced university. Instead of trying to sweep them under the carpet we can then try and learn from them to avoid making similar mistakes in the future. Since I had kust moved there were not many trusted people to reach out to. I've had a different job every single year since graduating 8 years ago. Way too much money for a degree that doesn't hold its weight. Today you will learn and understand the five circumstances that can lead to Financial Regret: Not having an emergency fund. There's more money out there. Those things really stick with you. Well into my substitute "career," I found out Gibbs was going to be shut down, so I spent close to $100 to retrieve several copies of my transcripts just in case. Read full article. Some economics grads warn that while the degree provides a strong theoretical groundwork, it fails to give a strong set of skills that can be used post-college. I'm not dissing the good trade schools, but these useless diploma mills should be shut down. Home. This last of my financial regrets is actually a pretty small one in monetary terms. worked like crazy and paid it off in 3 years though. The u/Financial_Regret5349 community on Reddit. Without investing – Blindly buying financial products. This bad photo is from my graduation from Katharine Gibbs in 2006. being investigated for fraudulent activities. I'm a little late to the game though, and I fear that one enormous financial mistake in my … Heck, even Charlie Munger has regrets about times he lost money or didn’t invest in a certain company from 35 years ago. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. Forums. But even the savviest of shoppers can get caught out in bad times. Someone recently started a thread on Reddit asking “What is your biggest financial mistake/regret?” I posted a couple articles on our biggest mistakes in the past and so I perused the Reddit thread to see if our misery had some company. Hopefully they can be counted on a single hand, and if you’re lucky they’re long in your past. A decision she no doubt regrets. The market for condos in the area crashed. Work has been slow for over 6 months now and I wish I'd put that money into RRSP's or against my car loan, or really anything more responsible. Within 3 years of leaving that company my salary had more than doubled, I picked up so many valuable skills, got exposed to new careers + got my bachelor's, and got myself out of depression. New comments cannot be posted and votes cannot be cast. I figured that if I met someone, they'd move into my place. So yeah, there goes their entire life savings and our college funds. Everyone who's been at their job a few years, quit. First year's tuition with room and board was 34k and I blew a little more on overpriced laptops, tvs, and went on vacations, etc. That big … Man if we were friends at that time I'd be slapping you silly with a boglehead guide printed out, on scrap paper, double sided, with one efficiently placed staple that was reused. I feel like such an idiot now, there are so many better things I wish I'd done with the money. This is perfectly normal and not something to be ashamed of. $100,000 in student loans. This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Here are five major financial regrets that far … went to med school so I could be a rich doctor. members pride themselves on being ‘savvy’, finding the best deals, avoiding scams and generally taking care of financial business. My dad got cocky and bought a $500,000 house in LV again after 7 MONTHS of buying the other house. Canadian police officer regrets not investigating passcodes conversation on day of Huawei CFO's arrest Back to video They further allege that Canadian police shared those details with the U.S. Federal Bureau of Investigation (FBI). I could easily transfer my job to where she was living, but she couldn't do the same. I could have taught myself everything on my own, which I mostly have, and wish I just took out a loan to buy high-end equipment to start my own company. Through my mentor at work (boss with M.E.) At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. I'd love to leave my industry... if only I could find a job that pays comparably. If you’re like me, you may have more than a few financial regrets from your past. Finally, I caved and decided to buy a condo. Every year spent there was a year I fell behind in my life. Stay on top of your credit scores Check now A survey reveals some of our biggest financial regrets I even ended up selling the bike. We all have financial regrets that we look back on from time to time. We asked some top money experts to share their biggest financial regret, and here’s what they had to say. Should have gone to state instead. Regret over money is just the worst… And it’s happened to everyone, including myself. Leave. What Are Your Financial Regrets? I've learned the hard way that I hate my industry, so my goal is to just maximize income. We had to move a couple of years ago and we couldn't sell it without losing everything and dropping thousands more, so we're renting it out, which so far is working out. However, my mother as well as my coworkers kept telling me how I was throwing away money on rent. I won't make that same mistake this time around. Financial regrets are like the bad boyfriend your parents warned you about, but you couldn't see it until it was too late. Log In Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. 3. Everyone faces some regrets, and financial regrets are common. :-/ oh well. They wish they had pursued a different major that had more realistic job prospects and a higher starting salary. It's an extremely expensive investment. Got my degree from ITT Tech. I know how you feel. That's how I justified the expense of the renovations. But everyone makes financial mistakes at some point. Regret 3: Young, naive and wanting to impress. My parents bought a $300,000 house in Las Vegas, Nevada in late 2006. Then I got stuck there because I couldn't pay the loan and nothing transferred anyway. That mistake might literally be the thing that keeps me from retiring early. After 2 years we got engaged, and I found myself in the position where if we were going to have a life together, one of us had to move. And like the previous regret, at least I was able to learn from it. Same here. Financial Regret can always be difficult to digest – but Finance Regret can be worse and haunt you like a nightmare! Press question mark to learn the rest of the keyboard shortcuts. School is my biggest regret. Any maybe, just maybe you can learn from these people’s mistakes and avoid a regret to two. 2. I moved to Hyderabad and felt this is a nice city to drive in I should go for it. It should come as no surprise that past financial mistakes weigh heavily on Americans' minds. After nearly a year of unemployment, I am finally working as an in-house graphic designer at a crappy place that couldn't care less if I earned a degree to learn graphic design or if I just taught myself. TRENDING. Back in November 2011 business was booming for me, and I had a huge paycheque (cleared $10k) and I went out and bought a brand new motorcycle with cash. Currently 24 yo and am sticking to good ole large cap growth etf's on vanguard. Also, jobs are MUCH harder to find with a degree from a for profit school. Great investment. My Biggest Financial Regrets (from a Person Who Never Regrets Anything) February 23, 2018 54 Comments. If I wrote a book it'd be titled: "I Am Not Smarter Than the Market - A $177,000 Lesson". These seven financial regrets may keep you up at night - and for a long time, too. this could have been me, but mine had a happier ending. TUNIS — A representative of the Polisario Front independence movement for Western Sahara said it “regrets highly” a U.S. decision to recognize Moroccan… Not all regrets … Tl;dr - went to ITT, have good career and life now thanks to ITT but would cut my kids fingers off for trying to go there. I went there while they were being investigated for fraudulent activities, but little did I know they would be shut down not two years after my last day of classes. Go somewhere else. Life doesn't always go as planned. Biggest Financial Regrets – Have Any? Therefore, I put the condo on the market less than 3 years after buying it. In the end I'm grateful for the life experience of going to ITT and I wouldn't be where I am today, living comfortably with my wife and soon to be child in our own home. Summary. I thought it was a good school when I enrolled and then I attended the classes and I couldn't believe how easy it was. Maybe this will make you feel better. Morning Brief. I bought right at the peak of the market. What's your biggest financial regret? I was single. Ask Americans what their greatest financial regret is over the last decade and heading the list is the accumulation of credit card debt, with almost 1 in 4 adults saying it is their No.1 regret. I'm a little late to the game though, and I fear that one enormous financial mistake in my past will keep me from actually retiring early. It includes time, money, convenience, and many other factors. After my freshman year, I had 56k left and decided to day trade and took out VARIABLE rate loans for tuition and planned to pay them off entirely with the profits that I'd have after graduation and boy was I WRONG. However, whether the financial event that you regret was your fault or someone else's, a time comes to let go of these regrets. Unless you’re a fictional character, you’re likely to have a few financial regrets in your life. Thanks to my salary, I was able to build my savings back up. Of course, she was living and working 70 miles away. Check it every once in a while to remind you to make better financial decisions. The data come from a recent survey by Policygenius, which also asked about top financial … one day I'm let go. Whether you decide to seek advice for your financial future or not, actually having a plan in the first place is the important thing. US STOCKS-Wall St hits highs as slowing job growth spurs stimulus bets. Reddit gives you the best of the internet in one place. I never know what to look for. If your school has commercials on TV during a Jerry Springer episode, and the only thing required to be accepted is opening the door, and none of your credits can transfer, then it's probably a bad idea. I started renting an apartment almost immediately. Regrets for not saving are understandable — but because financial aid exists, you have to put retirement first. I feel like such an idiot now, there are so many better things I wish I'd done with the money. The insurance money went down to 4.4k - my absolute stop limit, so that I at least had my rent covered for senior year by sharing a 2 bed and 2 bath with 3 other people. couldn't handle the stress. 7 common financial regrets Either way, almost all of us have made cringe-worthy financial decisions, which can often follow us … Press question mark to learn the rest of the keyboard shortcuts. NOW..... while the education did offer some skills, I could have gotten the same skill set at a community college for a quarter of the price. Luckily I was only there for less than two years because I had credits from a university and I tested out of a lot of classes. I studied graphic/web design at the top of my class (with really no help from my "professors"), and after their useless career services, I wound up as a clerk in a liquor store for a year then as a substitute teacher's aide for another year and a half. November 12, 2010: Posted by Roshawn Watson under Uncategorized 36 ... Oh how I regret ever getting a car note! Had a nervous break down and flunked out in second year. I actually want to build a tumbleweed home. I got a 6-figure job right out of college. Americans' biggest financial regrets: survey. Came here to say this also. This time it only cost me around $400 from memory. was at a mediocre job working for the cast of Office Space and what seemed like good money when I first started never went up and eventually became "underpaid". SkyBlock. Back in November 2011 business was booming for me, and I had a huge paycheque (cleared $10k) and I went out and bought a brand new motorcycle with cash. As of today, Im the Senior Design Engineer for an engineered cable solution company with a salary to match the title and path to management in the future. Not only was is a useless, and expensive education, but it literally got me nowhere after graduation. Thread starter Dont_ Start date Nov 9, 2020 Dont_ Well-Known ... Facebook Twitter Reddit Email Link. What's Your Biggest Financial Regret/Mistake? I once invested $1,000 in a stock I knew nothing about, and then lost all my money a year later. I bought mine in 2005, did a $20,000 remodel (not counting 1000 hours of labor), and sold it in 2011 for a $5,000 loss. I've been thinking about FIRE a lot lately. Some teachers were much better than others but mostly it was awful. The financial crisis of 2008 may play a significant role in how economics majors are feeling about their academic paths. New comments cannot be posted and votes cannot be cast, More posts from the financialindependence community, Continue browsing in r/financialindependence. I graduated from the CAD program from ITT in 2001. I keep hearing from jealous/stuck coworkers, "employers won't like how it looks if you jump around that often," but they keep hiring me for more money. Here's how to get ahead of these money mistakes. That being said, my kid WILL NOT be going to ITT. I mean, the cost of the car was about 2/3 of what I was making every year! I'm 4 months into a new job and already looking for a way out. Press J to jump to the feed. Not challenging myself and staying in the same low-paying job when I was younger (stayed there for 9 years). Financial mistakes can have long-term consequences over people's lives. We moved back into a mobile house in TX in 2008. A national survey conducted by Bankrate found that 75% of Americans have at least one big financial regret. I ended up selling for $43k less than purchase price. ... help Reddit App Reddit coins Reddit premium Reddit gifts. When you throw in the $50k worth of renovations and include things like condo fees and property taxes, I ended up blowing $100,000 on the stupid condo. Now, Which? It's not all sunshine and rainbows, though. When is the best time to buy one? I've gained experience in metal working in the tool shop (see my lightsaber project), CNC programming, mold design, and much more. Three months after moving into my condo, I met the woman I would later marry. And i have family that own their own house construction business. It still remains one of my biggest financial regrets. Think about regret like the rearview mirror in your car. But I can't help to think how it would be different if it was still mine. 23, 2018 54 comments regret financial regr how to get ahead these. 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