What is your single most expensive mistake?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
S&L1940
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Re: What is your single most expensive mistake?

Post by S&L1940 » Wed Sep 19, 2018 10:54 am

Taylor Larimore wrote:
Tue Sep 18, 2018 5:02 pm
Bogleheads:

My most expensive mistake was to use a broker for our investments from 1950 until 1986 when we moved to Vanguard.
Best wishes.
Taylor
+1
Although I did not realize it at the time, two fold, starting late to save for the future because of tight finances. We could have put away something but were too focused on the immediate challenges.
And then not finding Vanguard until years later when already involved with two "well known" financial entities who were vacuuming up our precious dollars with their fees and investment misdirection.
Don't it always seem to go * That you don't know what you've got * Till it's gone

LawyersGunsAndMoney
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Re: What is your single most expensive mistake?

Post by LawyersGunsAndMoney » Wed Sep 19, 2018 11:22 am

Owning and operating inherited rental properties with family members.

Came into the situation with family issues, effort in management was one-sided, and the situation ended up in a court-ordered partition by sale during a time period between the financial crisis and recovery that was sub optimal.

Lessons learned: Managing rental properties is a lot of work, family and business don't go well together, lawyers fees add up, be more prescriptive in your will.

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Pizza_and_Beer
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Re: What is your single most expensive mistake?

Post by Pizza_and_Beer » Wed Sep 19, 2018 11:29 am

Bought $10,000 worth of Corning stock near the peak of the bubble in 2000. I sold it all off a year or so later for a 90% loss.

Ouch :oops:

JT05
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Re: What is your single most expensive mistake?

Post by JT05 » Wed Sep 19, 2018 11:42 am

Not hanging on to my Netflix stock 7 years ago. I hate thinking about it but still do regularly.

LandofLincoln
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Re: What is your single most expensive mistake?

Post by LandofLincoln » Wed Sep 19, 2018 11:44 am

Working in tech making good money and decided to enroll in a “top 25” MBA two year full-time program which costs about $55k / year. The network / exit opportunities were dismal and I was unemployed for 1.5 yrs before finding a mediocre job and taking a large pay-cut.

Moral of the story? Go to a Harvard / Stanford / Chicago / Northwestern / NYU / Columbia etc (easier said than done)

Gretchen
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Re: What is your single most expensive mistake?

Post by Gretchen » Wed Sep 19, 2018 11:45 am

LawyersGunsAndMoney wrote:
Wed Sep 19, 2018 11:22 am
Owning and operating inherited rental properties with family members.

Came into the situation with family issues, effort in management was one-sided, and the situation ended up in a court-ordered partition by sale during a time period between the financial crisis and recovery that was sub optimal.

Lessons learned: Managing rental properties is a lot of work, family and business don't go well together, lawyers fees add up, be more prescriptive in your will.
Thank you for this! In terms of opportunity cost, my big mistakes were not hanging onto my first house (bought for $32K in 1976, sold in 1987) and my parents' house (bought for $13K in 1954, sold around 1995), which have both increased handsomely since sale. But keeping them would have meant managing rentals during the busiest years of raising a child, working a demanding job, commuting, and caring for an aging parent at home. We would be wealthier, but I would have gone crazy. We have plenty to live on in retirement anyway, so the extra $ would have little marginal utility.

dcabler
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Re: What is your single most expensive mistake?

Post by dcabler » Wed Sep 19, 2018 11:51 am

It was the year 2000 and I had just left a megacorp and joined a startup with a friend who was CEO. After a few months, I thought it was not well managed, there was subsequently a layoff, and I became convinced that they were going to crash into the treetops in a matter of months. Went back to megacorp and 2 years later the company went IPO. Given the number of stock options (unvested when I left) and was likely to get in the following year... Well, let's just say I would have retired long ago... Company was subsequently acquired and within a year the acquiring company eliminated the products, team, etc.... :oops:

bikechuck
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Re: What is your single most expensive mistake?

Post by bikechuck » Wed Sep 19, 2018 11:57 am

Almost all of our savings are in pretax accounts. We are now both retired, in our mid 60's and wish we had more after tax and Roth savings.

Neither of our employers offered ROTH 401Ks and we always made about one nickle more than the cut off for contributing to a Roth. That said we could have started taking advantage of the back door Roth provisions much sooner than we did. We could have also contributed less to our 401Ks and more to after tax savings in our later working years.

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triceratop
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Re: What is your single most expensive mistake?

Post by triceratop » Wed Sep 19, 2018 12:37 pm

I've never made a financial mistake. A moderate amount of planning and use of logic before decisions with significant financial impact helps enormously. I have plenty of time to make a mistake though, so that's great.
"To play the stock market is to play musical chairs under the chord progression of a bid-ask spread."

Freefun
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Re: What is your single most expensive mistake?

Post by Freefun » Wed Sep 19, 2018 12:42 pm

Thought I was a genius in the dot com bubble.

In my 20s I shopped at Barneys NY and got a Lexus. Ended up impressing the wrong people.

Sold apple early.
Remember when you wanted what you currently have?

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wabbajack
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Re: What is your single most expensive mistake?

Post by wabbajack » Wed Sep 19, 2018 12:55 pm

Calico wrote:
Wed Sep 19, 2018 10:20 am
My ex-husband cost me the most. First of all, I inherited $60k from my grandmother and we used it to pay for his grad school (and he let me do this knowing he was going to ask me for a divorce a couple of years later. He already started meeting with lawyers behind my back). Then, I found out he shifted around a lot of our money and spent it before he asked for a divorce too. I got some of it back, but not a lot and it ended up being a retainer for my own lawyer. And, of course, there was the cost of the lawyers (we divorced because he's gay, it wasn't something we were fighting over/someone cheating/anything like that and we mediated everything, but it still cost money).
Hollywood called. They want to make a movie.
On a more serious note, I'm sorry to hear.

Teague
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Re: What is your single most expensive mistake?

Post by Teague » Wed Sep 19, 2018 1:00 pm

Well, you see, a long time ago there was this place that involved cars, a German Shepherd Dog, some special keys, a guy in the back room who would have friendly chats with police officers while his employee was mixing up another batch of...

Never mind, I'm not sure what the statute of limitations laws say. Sorry.
Semper Augustus

JHU ALmuni
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Re: What is your single most expensive mistake?

Post by JHU ALmuni » Wed Sep 19, 2018 1:03 pm

1. Not selling my Cryptocurrencyies last year after making 400%+ return in few weeks.

2. Getting married to the wrong person.

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JamalJones
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Re: What is your single most expensive mistake?

Post by JamalJones » Wed Sep 19, 2018 1:08 pm

texasdiver wrote:
Tue Sep 18, 2018 5:36 pm
Buying a boat.

Bought a new custom $100,000 27' SeaSport Seamaster set up as a dive boat for SE Alaska together with a friend of mine. We had some good adventures on it and sold it a few years later after we both got married for perhaps a $40,000 loss considering all we had in it.
You know what I tell my friends when they ask what it's like to own a boat? I say stand under a cold shower and tear up $100 bills!
TSP + Vanguard Roth IRA + Vanguard Taxable: 80% equities / 20% bonds | Yap, yap, yap, yap, - the bottom line is ya gotta buckle up the chin strap!

Balefire
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Re: What is your single most expensive mistake?

Post by Balefire » Wed Sep 19, 2018 1:27 pm

Lost some investing in stocks in the early 2000s listening to my business friends. $

Bought house in HCOL in recent peak economy six years ago.
Spent lots of money updating and maintaining home.
Now selling home at a loss to upgrade to new house in same HCOL. $$$ More than 75k in anticipated losses.

But my kids and wife are happy and healthy.

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JamalJones
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Re: What is your single most expensive mistake?

Post by JamalJones » Wed Sep 19, 2018 1:27 pm

Mctavish83 wrote:
Tue Sep 18, 2018 6:26 pm
Probably not my most expensive mistake, but certainly the one I remember the most :-)

Got laid off from my engineering job and instead of paying my neighbor to cut my grass (he was in the mowing business and did a brilliant job once a month for $25), I decided I would save money and do it myself. Moved my car out of the driveway, parked it on the street, started mowing the front grass - hit a stone with the mower, and the stone flew right through the passenger window of my Toyota. Cost me $200 to repair and 2 hours to clean up all the tiny tiny bits of glass.
I would actually consider this to be a kind of funny story to tell friends and family. Just life happening. You're lucky.

When I was in elementary school, a friend of mine's dad was mowing their lawn when he ran over a rock (I believe it was an old manual push mower without any protection guards). A chip flew up and hit him in the eye. Wore a pirate eye patch for the rest of his life.
TSP + Vanguard Roth IRA + Vanguard Taxable: 80% equities / 20% bonds | Yap, yap, yap, yap, - the bottom line is ya gotta buckle up the chin strap!

go_mets
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Re: What is your single most expensive mistake?

Post by go_mets » Wed Sep 19, 2018 1:31 pm

18 months of grad school fulltime = out-of-state tution + board + lost wages


SIGH

H-Town
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Re: What is your single most expensive mistake?

Post by H-Town » Wed Sep 19, 2018 1:41 pm

Saving too much... But I've changed. I've spent quite a lot on adventures, experiences, and other things that make my family happy.

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VictoriaF
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Re: What is your single most expensive mistake?

Post by VictoriaF » Wed Sep 19, 2018 1:42 pm

$17.50 for a cancelled Amtrak ticket. If I waited until last week, it would have been free due to the weather delays.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

lamborghini
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Re: What is your single most expensive mistake?

Post by lamborghini » Wed Sep 19, 2018 1:50 pm

Got into crypto in May 2017.
Invested 50k.

At the peak, in the last week of December that 50k was equivalent to 600k.
My greed stopped me from selling it.
I waited for 1 mil. Human greed is his/hers worst enemy.


I lost everything in the last week's crash. Now, that 50k is about 30k. Sold everything and bought a car.
No more crypto for me. Deleted all the apps and don't want to track prices anymore.

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randomizer
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Re: What is your single most expensive mistake?

Post by randomizer » Wed Sep 19, 2018 2:02 pm

Good lord. Too many of these to count... But probably the most expensive one was not starting to save until I was about 35.
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LiterallyIronic
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Re: What is your single most expensive mistake?

Post by LiterallyIronic » Wed Sep 19, 2018 2:03 pm

JamalJones wrote:
Wed Sep 19, 2018 1:27 pm
Mctavish83 wrote:
Tue Sep 18, 2018 6:26 pm
Probably not my most expensive mistake, but certainly the one I remember the most :-)

Got laid off from my engineering job and instead of paying my neighbor to cut my grass (he was in the mowing business and did a brilliant job once a month for $25), I decided I would save money and do it myself. Moved my car out of the driveway, parked it on the street, started mowing the front grass - hit a stone with the mower, and the stone flew right through the passenger window of my Toyota. Cost me $200 to repair and 2 hours to clean up all the tiny tiny bits of glass.
I would actually consider this to be a kind of funny story to tell friends and family. Just life happening. You're lucky.

When I was in elementary school, a friend of mine's dad was mowing their lawn when he ran over a rock (I believe it was an old manual push mower without any protection guards). A chip flew up and hit him in the eye. Wore a pirate eye patch for the rest of his life.
Ouch. My neighbor was removing some large rocks that were in his backyard, so he bashed them with a sledgehammer. Thought to himself before he started, "I should get some eye protection" followed by "Nah, I'm already out here." One swing. Rock chip took his left eye.

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Artful Dodger
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Re: What is your single most expensive mistake?

Post by Artful Dodger » Wed Sep 19, 2018 2:13 pm

Taylor Larimore wrote:
Tue Sep 18, 2018 5:02 pm
Bogleheads:

My most expensive mistake was to use a broker for our investments from 1950 until 1986 when we moved to Vanguard.

Thank you, Jack!

Best wishes.
Taylor
I get what you mean. But, there weren't a lot of other options in the fifties and sixties than buying through a traditional broker, and Vanguard didn't come around until the mid seventies. You did make a good choice to invest in equities beginning at a young age, and then made the right choice to simplify and invest with lower expenses when you did move to Vanguard.

Thanks for all your work promoting index funds and low cost, simple investing ideas! :sharebeer

Starfish
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Re: What is your single most expensive mistake?

Post by Starfish » Wed Sep 19, 2018 2:20 pm

Jack FFR1846 wrote:
Wed Sep 19, 2018 9:12 am
Mine are all car related.

1976: Did not buy any of these 3 cars:
Plymouth Superbird for $2500
67 427 4 speed Corvette coupe for $2500. (owner wanted to buy a Corvette race car)
63 1/2 Ford lightweight. Owner had 2. Again $2500.

More recently: Sold my 1990 BMW M3 with 51k miles on it for $15k in 1997. Today, that's a $100k car.
Except you have to put money in it and by now it would have 200k miles. Or it could have been totaled.
Minus all the maintenance costs and minus the storage cost.
15k in s&p 500 would have been 60k today.

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car733
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Re: What is your single most expensive mistake?

Post by car733 » Wed Sep 19, 2018 2:29 pm

Not knowing about 401k, backdoor roth ira, hsa, espp.

Lynette
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Re: What is your single most expensive mistake?

Post by Lynette » Wed Sep 19, 2018 2:33 pm

One mistake of many .. not understanding that stuff grows really quickly here in the Michigan. Obviously I did not read the labels on the shrubs and trees I bought! I cannot even remember how many shrubs/trees I have either removed myself or called a tree service as they were getting too big then of course bought replacements.

Another $50,000 mistake was not examining potential drainage/water in the basement of the house I bought. I now have a series of drains internally and externally to take care of drainage issues. Of course the ground sank where the drains are and now I'm leveling it - hauling in bags of soil, planting more shrubs, trees and flowers. The side benefit of this is I have got a lot of exercise and got to know my neighbors and their dogs when working in the front yard. Many of the new houses have minimal landscaping but my yard is a forest and I get a lot of compliments on my garden. Another advantage is that I have really enjoyed this and may take a Master Gardener's Class next fall.
Last edited by Lynette on Wed Sep 19, 2018 3:29 pm, edited 1 time in total.

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topper1296
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Re: What is your single most expensive mistake?

Post by topper1296 » Wed Sep 19, 2018 2:35 pm

Starting on a graduate degree that I never finished.

blackwhisker
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Re: What is your single most expensive mistake?

Post by blackwhisker » Wed Sep 19, 2018 2:37 pm

Iowa David wrote:
Tue Sep 18, 2018 10:32 pm
1. Starting a ROTH IRA early in my career, but had the money invested in a money market account.

2. Not fully maximizing my 401k when I could have.

3. Sitting on cash during this bull market.

4. Not discovering this site 10 years ago.
+1.
i really appreciate how open everyone is on this discussion thread! i thought i was the only one made these mistakes.

harrychan
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Re: What is your single most expensive mistake?

Post by harrychan » Wed Sep 19, 2018 2:55 pm

Housing related.

1) Could've bought a home in the early 2000's in a posh neighborhood with zero down. The neighborhood has since 3-4x and would've nicely kick started residential and rental investments. I opted instead to buy a new car.

2) Was overseas in my hometown when there was a virus outbreak. The property prices nosedived and people were begging home buyers to take their homes. All has since recovered at around $1000-1200/sq feet.

3) Not mine but my parents never bought a property when they had numerous chances to do so in the 70's-90's. Now I have to subsidize their rent probably for the rest of their lives.
This is not legal or certified financial advice but you know that already.

arsenalfan
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Re: What is your single most expensive mistake?

Post by arsenalfan » Wed Sep 19, 2018 2:58 pm

LIke Scooby Doo, it's those meddling kids.

"Financial Independence. I would've gotten away with it...if it wasn't for those pesky kids!"

Texgal17
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Re: What is your single most expensive mistake?

Post by Texgal17 » Wed Sep 19, 2018 3:07 pm

fortfun wrote:
Tue Sep 18, 2018 6:18 pm
Not knowing about Bogleheads till 2016. Likely 100k+ of stupid decisions....ugh...and the interest I could have made on that 100k....
+ 1000 .... :oops:

bmelikia
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Re: What is your single most expensive mistake?

Post by bmelikia » Wed Sep 19, 2018 3:12 pm

Waiting til 2013 to purchase my first home. . .
"I would rather die with money, than live without it...." - Bogleheads member Ron | | "The greatest enemy of a good plan, is the dream of a perfect plan." | -Bogle

criticalmass
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Re: What is your single most expensive mistake?

Post by criticalmass » Wed Sep 19, 2018 3:21 pm

neilpilot wrote:
Wed Sep 19, 2018 9:01 am
criticalmass wrote:
Wed Sep 19, 2018 8:36 am

Then your only lost key expense (assuming you’re near home and/or a family member can rescue you with a key) is roadside assistance, and buying a new key. I wouldn’t bother changing locks (especially if car is garaged) because you unprogram the lost key (it can never start engine again).
That may be true for some cars, but not mine. I have a keyless entry and engine start, but each fob also stores a mechanical key. That key will open the driver door and also start the car without the fob. If "you unprogram the lost key" the mechanical key is still fully functional.
The mechanical key doesn’t have a transponder inside? That’s too bad, many cars including my old Dodge (now retired) from the mid nineties have a transponder. Even with the key cut perfectly, the car’s computer will not fire the spark plug coils without a correct interrogation reply from the transponder. If lost, you can remove the transponder from the valid list (and add a new mechanical key). Many (most?) cars’ transponder keys work the same way, even newer ones that use RFID instead of inserting into an ignition switch.

Transponder key systems can be defeated against protecting engine start by replacing the main engine computer or with a flat bed truck. (Or if they are intentionally defeated by placing a programmed transponder somewhere nearby to allow a remote start to operate).

And yes, buying an extra $25 transponder key was an investment that had a great return when a family member lost an original key. I was able to purchase another replacement ($25 again) and program it myself ($0).
Last edited by criticalmass on Wed Sep 19, 2018 3:30 pm, edited 1 time in total.

Goal33
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Re: What is your single most expensive mistake?

Post by Goal33 » Wed Sep 19, 2018 3:27 pm

I would have left the key the same. Nothing to steal in my car, and if they steal the car itself... would love that insurance payout.
A man with one watch always knows what time it is; a man with two watches is never sure.

neilpilot
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Re: What is your single most expensive mistake?

Post by neilpilot » Wed Sep 19, 2018 3:47 pm

criticalmass wrote:
Wed Sep 19, 2018 3:21 pm
neilpilot wrote:
Wed Sep 19, 2018 9:01 am
criticalmass wrote:
Wed Sep 19, 2018 8:36 am

Then your only lost key expense (assuming you’re near home and/or a family member can rescue you with a key) is roadside assistance, and buying a new key. I wouldn’t bother changing locks (especially if car is garaged) because you unprogram the lost key (it can never start engine again).
That may be true for some cars, but not mine. I have a keyless entry and engine start, but each fob also stores a mechanical key. That key will open the driver door and also start the car without the fob. If "you unprogram the lost key" the mechanical key is still fully functional.
The mechanical key doesn’t have a transponder inside? That’s too bad, many cars including my old Dodge (now retired) from the mid nineties have a transponder. Even with the key cut perfectly, the car’s computer will not fire the spark plug coils without a correct interrogation reply from the transponder. If lost, you can remove the transponder from the valid list (and add a new mechanical key). Many (most?) cars’ transponder keys work the same way, even newer ones that use RFID instead of inserting into an ignition switch.

Transponder key systems can be defeated against protecting engine start by replacing the main engine computer or with a flat bed truck. (Or if they are intentionally defeated by placing a programmed transponder somewhere nearby to allow a remote start to operate).

And yes, buying an extra $25 transponder key was an investment that had a great return when a family member lost an original key. I was able to purchase another replacement ($25 again) and program it myself ($0).
My post above was in error. I just bought this car a few weeks ago and thought that the mechanical key unlocked the door AND operated the ignition. Actually it only unlocks the door, and the transponder key operates the ignition. Still learning this car. 8-)

MP173
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Re: What is your single most expensive mistake?

Post by MP173 » Wed Sep 19, 2018 3:52 pm

1.Purchased an individual stock in 1996 (200 shares @ $21.00 per share).
Sold the 200 shares in 1999 to finance a vacation (200 @ $45.00 per share).

Current value of shares - 1600 shares (split 4x) @ 123.70 = $197920. However, it did finance a great vacation which my terminally ill wife was able to spend with our two boys at Disney World. The two sons still talk about it! Probably not a bad deal actually.

2. Loaned $10,400 to SIL in 1995. She has repaid $400....the first two months. It doesnt bother me today, but it has allowed me to develop a rule - never loan $$$ to family member, friend, etc which you cannot afford to write off the entire amount.

3. Purchased 300 shares of a stock in 1995 (busy year for me) for $7.50. Rode it down to $0.00. However, it was mitigated by meeting the Chairman of the Board and getting inside track as a vendor which was considerably more than the stock loss. Fortunately they paid all their invoices.

Ed

Texgal17
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Re: What is your single most expensive mistake?

Post by Texgal17 » Wed Sep 19, 2018 3:58 pm


Well.....taking out a 401k loan to pay off high credit card debt....twice! Because I didn’t learn my lesson the first time.
Also, not paying any attention to my 401k investment, I was in the safe TSP G fund for way too long in my early career, because I had no clue about investing. I wised up around my 40’s and was still able to early retire from my federal government job! So, I may not be rich but I have enough! :D I’m so thankful for finding the BogleHeads!!!

ge1
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Re: What is your single most expensive mistake?

Post by ge1 » Wed Sep 19, 2018 4:03 pm

As far as investing goes, selling Starbucks on March 11 2009 for (split adjusted) 4.62 must be the winner. It was a small position but still "lost" over 60k by doing that.

Building an expensive second home and selling it for much less than the cost basis was much worse though from a $ perspective. I'm not calling it a mistake though, too many good memories.

kelvan80
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Re: What is your single most expensive mistake?

Post by kelvan80 » Wed Sep 19, 2018 4:06 pm

As a negative ROI. Parking meter in California for swim lessons. I could have put another quarter in but didn't. Cost me $80 when someone stopped to talk to me on the way out of the building.

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UpsetRaptor
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Re: What is your single most expensive mistake?

Post by UpsetRaptor » Wed Sep 19, 2018 4:45 pm

For all of you who are I assume in index funds now saying selling AAPL, NFLX, or whatever other individual stock that took off, is that really a mistake? By that logic, couldn't not-buying yesterday's winning lottery ticket be considered a mistake?

Edward Jones, for me

CedarWaxWing
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Re: What is your single most expensive mistake?

Post by CedarWaxWing » Wed Sep 19, 2018 4:50 pm

tim1999 wrote:
Tue Sep 18, 2018 11:00 pm
I don't care to share the details but can say it did NOT involve investing, cars, real estate, a business, sex, drugs, or rock 'n roll.
There's not much left it seems. :)

bo105954027
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Re: What is your single most expensive mistake?

Post by bo105954027 » Wed Sep 19, 2018 5:33 pm

Goal33 wrote:
Wed Sep 19, 2018 3:27 pm
I would have left the key the same. Nothing to steal in my car, and if they steal the car itself... would love that insurance payout.
I actually tried. But being aware of someone having limitless access to my car caused me trouble in sleeping well. (It did happen the guy entered my car. I knew as I found cigarette ash on my seat in one morning, but I never smoke!) A week later I decided to go to dealer n paid for having my sound sleep back.
Time in market beats timing the market.

OKC
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Re: What is your single most expensive mistake?

Post by OKC » Wed Sep 19, 2018 5:34 pm

In early 20s after making my first Roth IRA contribution, I day traded out-of-the-money calls and turned $4,000 into $100,000 in one month, then promptly lost it all in two days. It was painful, but in hindsight I'm glad I learned this lesson when I was young.

Jags4186
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Re: What is your single most expensive mistake?

Post by Jags4186 » Wed Sep 19, 2018 5:41 pm

Taylor Larimore wrote:
Tue Sep 18, 2018 5:02 pm
Bogleheads:

My most expensive mistake was to use a broker for our investments from 1950 until 1986 when we moved to Vanguard.

Thank you, Jack!

Best wishes.
Taylor
Was this a mistake though? Were there options to buy investments without a broker in the 1950s?

Genuinely curious.

michaeljc70
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Re: What is your single most expensive mistake?

Post by michaeljc70 » Wed Sep 19, 2018 5:45 pm

UpsetRaptor wrote:
Wed Sep 19, 2018 4:45 pm
For all of you who are I assume in index funds now saying selling AAPL, NFLX, or whatever other individual stock that took off, is that really a mistake? By that logic, couldn't not-buying yesterday's winning lottery ticket be considered a mistake?

Edward Jones, for me
Well, a lost opportunity to me is a little different. If I thought about buying Apple and never did vs. owned Apple and sold early, those I'd consider different. I wouldn't call not buying Apple a mistake as I think of a million things in a year. In other words, is not doing something a mistake? I guess it could be considered one, but we can always see those kind of "mistakes" in hindsight. I wouldn't call not selling all my equities and not selling my home in 2007 a mistake because I had no idea what would happen and when.

jehovasfitness
Posts: 553
Joined: Mon Jan 22, 2018 2:26 pm

Re: What is your single most expensive mistake?

Post by jehovasfitness » Wed Sep 19, 2018 5:52 pm

Read first page. Anyone say kids yet?

GCD
Posts: 537
Joined: Tue Sep 26, 2017 7:11 pm

Re: What is your single most expensive mistake?

Post by GCD » Wed Sep 19, 2018 5:55 pm

jehovasfitness wrote:
Wed Sep 19, 2018 5:52 pm
Read first page. Anyone say kids yet?
No, but a lot said wives. One leads to another I suppose.

Myself, having kids was damn sure expensive, but I don't classify it as a mistake.

Finridge
Posts: 496
Joined: Mon May 16, 2011 7:27 pm

Re: What is your single most expensive mistake?

Post by Finridge » Wed Sep 19, 2018 6:21 pm

It's interesting to see what different people count as a "mistake". For me, personally, a mistake is something I shouldn't have done at the time with information that was available then, irrespective of the outcome. For example, if I sell a large position in a single stock to shift over to an index fund, and then later the single stock greatly increases in value--I don't see that as having been a mistake.

Likewise, if someone encouraged me to play the Powerball lottery using a particular "lucky number" and after refusing, I later find out that that was a the winning number--I would not see that as mistake. In fact if I did play the number and won, I'd see that as a mistake, a mistake that ended well (very, very well!) but still a mistake.

pilotpaul
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Joined: Sat Dec 09, 2017 2:28 pm

Re: What is your single most expensive mistake?

Post by pilotpaul » Wed Sep 19, 2018 6:30 pm

Timely Thread.......almost make the investing mistake of my life by shorting TLRY this morning after a big opening. That was pretty ugly around 2pm.

2pedals
Posts: 582
Joined: Wed Dec 31, 2014 12:31 pm

Re: What is your single most expensive mistake?

Post by 2pedals » Wed Sep 19, 2018 6:32 pm

Using market timing techniques for too long. It worked until it didn't -- got badly burned.

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