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  #91  
Old 11-09-2007, 08:32 PM
aklim's Avatar
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Originally Posted by Skid Row Joe View Post
Hmm......[I] I know, after nearly 25 years of owning shares, I'm still trying to get used to the fact that no stock goes Up, every day..........it's a b*tch, dude.
It doesn't? The way you describe it, if I believed you, I should sell my house and everything I own, live in a tent for a while and invest in stocks. After that, swim in money for the rest of my life.

Lets see, no stock goes up everyday. So you might not make money some days. So how do you KNOW that you won't lose your shirt when you need money should a loss occur to your house? Same principle as auto insurance, life insurance, etc, etc. Will you have enough to cover it AT THAT MOMENT?

It's all luck. If your stocks win out and nothing happens, you can say insurance is a stupid idea and you are smarter than the rest of the people. Should something happen and your stocks haven't paid out yet or crash, you are SOL. Is it worth the risk? Well, if I were single, I could say "I'll chance it". Now if I were married with 2.3 kids, house in the suburbs with a white picket fence and a dog, do I want to throw everybody else out in the cold with me while I gamble? When I was single, I could go to a casino and bet my food money on the next hand.

Yes, insurance is a gamble like everything in life. I do know this though. When I buy insurance, I have something to take care of me should something occur. Has it done it's job so far? Yes. Are there instances like this post brings up? Yes. So far, there isn't a better system that will protect me from a sudden financial hit. Yes, if I play the stock market with my insurance money, I could make a bunch more. Is that guaranteed? I think not. Is that system a better guarantee than insurance? I think not.

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  #92  
Old 11-09-2007, 08:43 PM
mrhills0146
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Let me try to sum up this "debate."

If you are vastly over-insured, you are a fool.

If you are vastly under-insured or don't even carry insurance, you are an even bigger fool.
  #93  
Old 11-09-2007, 09:28 PM
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Originally Posted by mrhills0146 View Post
Let me try to sum up this "debate."

If you are vastly over-insured, you are a fool.

If you are vastly under-insured or don't even carry insurance, you are an even bigger fool.
On that note lets end it, well said.

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