10 ways to lose your nest egg

The money you've faithfully stashed away for your golden years can be depleted quickly if you make major mistakes managing it. Here are a few missteps that could be costly.

 of 11

VIDEO ON MSN MONEY

38Comments
Sep 11, 2012 10:04PM
avatar
#11.  Divorce (And lose your other eggs too)
Sep 11, 2012 7:16PM
avatar

You're Guaranteed to lose it because you're spending down your savings because you're not getting any interest income because of Ben Bernanke's 0% rate policy.

Sep 11, 2012 8:00PM
avatar

You will be wiped out by slow inflation,. Nothing new, look at the last 80 years.

Zero interest on what you have saved.   Uncle Sam gives money away. 

avatar
4 more years of Dope & Chains and you will lose not only your eggs, but the nest, the tree the nest is in and your first born.
Sep 11, 2012 6:52PM
avatar
Heres the only way to lose your nest egg...vote for the liar in chief in november
Sep 11, 2012 8:01PM
avatar
# 12   invest it in the gambling casino that is Wall street. The house always wins in the end.
Sep 12, 2012 10:30AM
Sep 12, 2012 1:10PM
avatar

The answers are simple.

1.  Stop whining!

1.  Get off your **** and work hard.  There are jobs out there.  Don't give up.  And don't become a burden to society.  That will ony make you lazy and will suck the ambition out of your soul.

2.  Save money.  Even if it's only $20.00 per week.  If you never save money, you will never have money.

3.  Don't expect the government (or anyone else) to take of you.  Take care of yourself.

4.  Invest wisely.  Spend wisely.  But don't expect guarantees with your investments.  There are no guarantees.  Learn about the risk / reward relationship.

5. Once you take control of your life, then pass these tips on to someone else. 

Sep 12, 2012 1:00PM
avatar
The best way to lose the rest of your savings is to re elect Obuma....
Sep 12, 2012 7:34AM
avatar
#13. Putting all your money in 401Ks and IRAs in financial institutions.

Custodial Risk. Most people don't know what that means, but know who Bernie Made-off with your money is. People lost all their money in brokerages like MF Global and Peregrine Financial Group. Custodial risk means that the person in charge of your money may rip you off.

Recent court rulings have said that secured creditors like Bank of New York Mellon were first in line to be re-imbursed when the criminals running Sentinel Management Group (part of the MF Global scandal) used customer account money to collateralize their loans for their risky investments.

In other words, don't put all of your nest eggs in financial institutions or the same financial institution. Take out some or most of your money and invest in hard assets.

The big banks are highly leveraged, investing in high risk investments known as derivatives. These Financial Weapons of Mass Destruction could bring down the entire financial system.

Sep 12, 2012 8:26AM
avatar
Here is 5 more, investing in the rigged stock market, buying worthless US Tresurys, buying a home, voting for the Dumbocrats or the Republicks.
Sep 11, 2012 8:22PM
avatar
In response to T Dolby:  The way I remember it, we lost our 401ks under W.  Stock market bottomed out at about 7000.  And what did the market close at today?
Sep 12, 2012 12:56AM
avatar
The Lord giveth and the Lord taketh away Blessed be the name of the Lord.
Sep 12, 2012 1:39PM
avatar
BUY IN AN NEVADA HOA (HOMEOWNERS' ASSOCIATION). 100% Guaranteed to Lose Your Money Faster than the Casino or Your Money Back (NOT)! The second you move in, they extort (fine), embezzle HOA funds, forge checks, use cops to intimidate homeowners, make death threats, then illegally foreclose (if you don't pay more extortion)!!! Catherine Masto Cortez so-called Nevada Attorney General refuses to prosecute $1 million HOA embezzlement, allowing HOA criminals to go onto their next victims for fraudulent foreclosure! There is absolutely no oversight, no real regulation over Nevada HOAs. Retirees steer clear of Nevada HOAs.
Sep 12, 2012 5:10PM
avatar
Trickle down economics...whenever I hear that phrase, I don't imagine wealth splashing down on me.

It's a neat idea: I know I have more money than you, but what you need to do is give me even more, and then you will have more. Trust me. 

It's hard to believe this ever made it into political rhetoric.
Sep 12, 2012 12:50PM
avatar
Insanity is doing the same thing over and over an getting the same results . Hilary goes around handing out our hard eared money .Trying to keep peace in the world ,this is to me insanity. IT DOES NOT WORK the american people have no information on this. So the government has lost it nest egg a long time ago. So they show no good expel to our  kids to hide the truth. from the people .We don't need secretary of state ,stay home and put the money to good use. Regards
Sep 12, 2012 1:07PM
avatar
Take all your cash...drive down to  Virginia...buy several thousand cartons of cheap cigarettes....drive north and sell in NYC, Mass or any of the other states with stupid tax rates. About the only good investment you can make today...illegal..sure...also bit of a risk of ending up in the East river with cement boots...but probably still safer than trusting your money to the Wall Street crooks
Sep 12, 2012 2:08AM
Sep 12, 2012 1:34AM
avatar
We need to elect Romney so that the super-rich are ensured to keep their nest-eggs.  As long as they stay fat and happy at the top, we'll catch all the pennies that trickle down to the rest of us.  That's how it works, right?  You can't spell trickle-down without trick.  As in tricking you to vote against your own interests because the guy in the White House doesn't get a sun-burn as easily as you do.  Time to get out of that Faux News spin zone you guys are addicted to.
Sep 12, 2012 7:09PM
avatar
There is an 11th way... re-elect Obiden and your savings will become worthless in no time.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2013 Microsoft. All rights reserved.

Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.

Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.

Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.