Snapshot 1929… Homebuilding 101…

September 23, 2022 by  
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As of today, over 25% of my wife’s and my retirement savings have turned to dust. Ouch. Will our investments bounce back? Our 6 children and their families certainly hope so. Yes, times are tough, but are they any worse than during the height of the most recent pandemic… or the one from the early 1900’s? How about living during any of the multiple wars we’ve engaged in over the past 200+ years, during the Great Depression, or in and around some of the devastating hurricanes, tornadoes, floods, or wildfires which have taken countess lives or stripped the survivors of their worldly possessions? Do our current financial, social, and political difficulties hold a candle to any of these?

These ponderings are not meant to diminish the sorrow, sickness, and loss of life which has befallen us over the past few years, but we’ve also learned a ton: “Don’t sweat the small stuff?”, “What are truly the most important things to hold on to?”, “Life is precious.”, to name but a few. All of these fall under the umbrella of “Homebuilding 101”.  The Author of wisdom once said, “Don’t build your house upon the sand!” This is not merely good advice, its words to live by.

Case in point…

In late October of 1929 the Stock Market crashed, and in an instant the foundation of many washed away in a torrent of bad news. For those who had built their house upon such fleeting sand as an investment portfolio, everything crumbled. Such was the case for James J. Riordan, a noteworthy investor and president of the County Trust Company of New York. His response to the crash was emblazoned on the front page of the Chicago Sunday Tribune (along with most other newspapers of the day) for all to see. Of course his reaction to the sudden loss of worldly possessions has been played out in similar fashion time-and-time again – a lesson for all of us to consider when we are seeking a foundation upon which to build our lives.

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