A Nice Little “Dumb Luck” Money Story

My friend Ellie called me this afternoon after leaving a meeting with her financial planner to share the pure joy of dumb luck. She lost her job earlier this year and had to move her 401K a few months ago, and just found out that instead of it being parcelled amongst her selected mutual funds losing 30-40%, it’s been sitting in a money market account earning $300 interest!! Sadly, she can’t share that with too many people in her life – one sister will be losing her house as soon as the local moratorium on foreclosures is lifted, and another is wayyy in the hole thanks to a casino gambling addiction. Anyway, she has decided to leave it in the MM fund until after the election, and then she’ll finally take advantage of this stock market “fire sale”.

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2 Responses

  1. I think the luckiest person is the broker who failed to execute on her initial allocation request. Can you imagine if there was a serious bull-run that caused your friend to lose out on money? That broker would be in a world of hurt.

  2. wow, that IS pretty damn lucky – good for her 🙂 sucky for those unfortunate ones too…maybe her luck will rub off a bit?

    i’d be alllllllll about picking up those stocks/funds ASAP too now! man that would be hot.

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