Are you losing money during this economic downturn?



Gas prices are up, commodity prices are up, and stock markets are down. Millions of people around the world are losing money because of the global economic downturn. Are you one of them?
Here are a few PinoyMoneyTalk Forum members who have been hit by the crisis:
misstapia says:

Hi. I’m new here. Found this site out of my desperation to find an answer regarding my dilemma on my variable life investment (AXA Life). Just saw this morning that am losing a lot. My investment of P200k is now down to somewhere P170k, it’s already more than a year old. I am not really adept about investment, my bank actually introduced it to me as an alternative to time deposit. Right now am thinking of redeeming and use the money to pay our remaining mortgage in our housing loan; that way we would be able to save some on mortgage interest, and somehow recover some of our losses. What do you think? Please help.

xtyke laments:

hi! i found this forum because of despair. I’ve invested in BDO Balanced Fund last Nov 2007. From the time I invested, bumagsak ang stock market/NAVPU. As of this time, i have a paper loss of more than 200K of my 800K investment. Tama ba na hintayin ko na lang na maka-recover ang market, since hindi ko pa naman kailangan ang pera? Need advice, please help.

tops5450 shares:

This is the bearest year of Mutual Funds (MF). I am losing as well in my 3 MF’s namely Sunlife Balanced Fund, GSIS and Philam Bond Fund.

baludoy says:

Just received our Statement of Account from Sunlife yesterday and we’ve had a paper loss of around 12% since October of last year. But we’re staying the course and hopefully it’ll make a turnaround in 2-3 years’ time.

No one knows when this economic slump will end. As the financial markets continue their freefall, more and more people are also losing money. If you are one of them, tell us your story. Post in the forum discussion thread Who is hurting during this downturn?

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3 thoughts on “Are you losing money during this economic downturn?”

  1. I invested in UITF last Oct-Nov 2007. Then everything went south and still crashing.School enrollment came.Since there was a discount if I pay school tuition in full I saw it as an opportunity.I took out my UITF and used it to pay for tuition to avail of the discount.That way, I was able to offset my losses in UITF because I got a discount for tuition.I will just re-invest in UITF again while it is still down.Did I make the right decision?

    Reply
  2. If you invested in trust funds, UITF, mutual funds and other securities: This is the WORST time to sell – you will lose money. Never invest in these things if you plan to use that money within 1 to 3 years in time because these things are long term investments which means you need to keep that money in these funds within the minimum of 5 years ideally 10 or more years. I’ve been investing in securities, mutual funds and the stock market since 1989 and enjoyed a consistent average return 11% yearly profit (even through the Asian crisis of 94 – I didn’t panic and just rode through the storm) – the market always corrects itself in the end. This economic crisis is no different. And even if I suffered a paper loss from my 2007 high – if I cash all my stocks/UITF/shares now I still gained a significant profit and enough to retire.
    So crawlinginthedark pulling out your UITF when it was barely a years old was a poor decision. Investments are “extra money” not meant to be touched, You should have set aside a separate fund for your tuition fee and other big expenses.

    Reply

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