Gambling My Life (Savings) Away
Most of my retirement savings is in some way involved in the stock market. So, when the market took a dive a couple weeks ago, so did my future. You are talking to a total non-gambler. I have only "gambled" a handful of times, I mean seriously, I can count on one hand. Each of those times, my budget was about 10-20 dollars. Each time, as soon as my money is gone, I walk out.However, my retirement savings is different. I can’t just walk out; there is no point in pulling your money out when it is down. And I have a little bit more than 10 or 20 dollars involved. So I sit and watch my dollars melt away like the Wicked Witch of the West…helpless/hopeless…
Which is the problem – I am watching them melt away. It is an obsession. I can’t stop. Help me! I have to check every day to see if I am up or down…and it changes so much. For example: I bought Exxon stock for about 82.00/share. It went up to 85, it went down to 80; it went to 87, then to 79…today it is at 85 again. Go figure.
And I have no idea what I am doing. Should I buy; should I sell? “Should I stay or should I go now?” But, for all this, for the fact that I am losing money right now, it is fun. I can see how people can get hooked on gambling – “just one more game and I will win it all back”… Riiiiight… So, I will keep playing for a while, see what happens, never put all my eggs in one basket and hopefully ride the market back up someday soon.