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- Apr 30, 2005
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- 34,310
I don't want to know. Probably not long. My husband has been downsized 5 times in the past. In one 3 year period he was out of work for 18 months. Then another time it was 2 years. He didn't collect unemployment, I don't know why, but we used up a lot of our retirement funds and he's 60. Sooo. Don't know, don't want to know, the future doesn't exist to me, just the present moment.
A few yrs ago that's what happened to my other BIL. His tenant can't come up their share of $150 per month, so after 3 months he went court to have them evicted. After this eviction he sold his last rental property. He said... not worth the headache. He can't put up with the BS anymore. On his other rental property his tenant purposely jack-up the inside before they left after falling behind 3 months worth of rent.We also have many Section 8 renters---so your BIL and SIL have the guaranteed monthly payment for the government portion. Downside is that if the renters pay part of the rent they may struggle.
This thread reminds me of a wonderful quote:
I have enough money to last me the rest of my life ... unless I buy something. - Jackie Mason
You did a good thing for his parents. I hope your positive karma pays off.My husband and I were set for over a year, maybe two. Now only two months. We purchased a home for his parents to move them closer because they were in a two story home and they need a ranch and were an hour away so taking care of them was very difficult and time consuming. It is not a cheaper home, either. Literally just 3 months ago. They can't help with the payments because his brother took all the equity in their other home to pay for his car and college, put the home in his name and built up the equity for himself (despite my husband helping with the payments for a couple of years).
I fear terribly for our financial situation right now.
You did a good thing for his parents. I hope your positive karma pays off.
Both of our IRAs are worthless. We max out our IRAs for over 20 yrs and it is now worthless..My stock accounts are worthless. When I buy you sell!.
Phoenix, Wish I was young as you..The stock markets will recover, DF. They always will. It's just a matter of time, but when who knows? But it's usually within a few years, not decades.
I don't want to know. Probably not long. My husband has been downsized 5 times in the past. In one 3 year period he was out of work for 18 months. Then another time it was 2 years. He didn't collect unemployment, I don't know why, but we used up a lot of our retirement funds and he's 60. Sooo. Don't know, don't want to know, the future doesn't exist to me, just the present moment.
oh lyra
its very hard right now
i think the best most of us can do is just live in the present
enjoy your husband's company, maintain special isolation and we'll figure this all out latter
Well, I’m about to find out.
I resigned a few weeks ago because we planned to move to the UK at the end of April/early May. Cashed in my pension.
DH was supposed to stop working at the end of April. We were then going to use my pension, his pension and our savings to meet the £78000 savings requirement to move DH and our two kids to the UK (they only have South African passports).
Now they’ve closed the borders so we can’t move. And I don’t have an income. Fortunately my DH has not yet resigned, but it’s going to be tight.
In the meanwhile our currency has tanked, DH’s retirement account has taken a knock, and I don’t know if we’ll still meet the financial requirements to move together.
I might have to go over on my own for 6-9 months to work in order to prove that I can support DH and the kids without needing state benefits. My kids are 2 and 4. I’m trying really hard not to think about it.
I guess at this point we’ll have to wait and see
Luckily we don't have any debts (no school loans, don't own a home nor cars) and have been living below our means. I guess we can survive some years, but it's still so stressful. What if our liquid assets are worthless? What if dh's job is gone? I try not to think too much, like others say, take it hour by hour. I don't even look at our TSP/401K/IRAs anymore. When people say buy more stocks, do you mean specific stocks or indexed funds?
XOM will survive.DF I lost money on an oil stock. I'm waiting for it to declare bankruptcy.. Some of them will come back. I try to buy dividend stocks.
A few yrs ago that's what happened to my other BIL. His tenant can't come up their share of $150 per month, so after 3 months he went court to have them evicted. After this eviction he sold his last rental property. He said... not worth the headache. He can't put up with the BS anymore. On his other rental property his tenant purposely jack-up the inside before they left after falling behind 3 months worth of rent.
Luckily we don't have any debts (no school loans, don't own a home nor cars) and have been living below our means. I guess we can survive some years, but it's still so stressful. What if our liquid assets are worthless? What if dh's job is gone? I try not to think too much, like others say, take it hour by hour. I don't even look at our TSP/401K/IRAs anymore. When people say buy more stocks, do you mean specific stocks or indexed funds?