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To all of the really smart and loving members here...HELLO!!
Old 08-14-2007, 03:37 PM   #1
Confused about dryer sheets
Join Date: Aug 2007
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To all of the really smart and loving members here...HELLO!!

Hi, I just joined today and am so glad I found you all.

I never really thought of retirement in my 30's or 40's as I figured I would work until I fell over.

Now I think I have to reconsider, based on several issues. I was fired in March from a sales job I had, making six figures. This happened, due to my own fault, of getting ill. Mea culpa.

At 52, still chronically ill (and will likely get worse as time goes on) and female, I'm starting my own business now and getting really serious about my funds. They aren't tremendous, and I'm one of those people who is worth more dead than alive. But I plan to live so figured I better get serious about what I have and what I need to keep going.

I've been a silent saver for years and after consolidation, this is my net worth.

-- $200k in cash/stocks
-- $200k in equity in my house

Wow, after working for over 25 years, that's about it. Sad.....

I plan to read all of your posts to see what I should be doing with this so that I can live the best life possible. Hard not to be discouraged. But I will say, all of my working years results in a AAA credit rating, as I do pay my bills. LOL

Hope that's NOT what they put on my tombstone?

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Old 08-14-2007, 04:49 PM   #2
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Welcome to the board

Sorry to hear about your your illness. Of course, I have to point out the Health forum but I hope that you are able to read all the posts, or at least the most recent ones.

Angels danced on the day that you were born.
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Old 08-14-2007, 04:51 PM   #3
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Do you mean you lost your job because of an illness? Did you consider a legal recourse against your employer?
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Old 08-14-2007, 05:09 PM   #4
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My next door neighbor has a lucrative sales job, I seem to remember her saying everyone was a contractor, 1099'ed, no bennies etc. and it was really easy to get "terminated". I think they did a real good job of making sure they faced little legal ramifications for it.
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it's tough, but, you can do it
Old 08-14-2007, 07:39 PM   #5
Dryer sheet aficionado
Join Date: Jul 2007
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it's tough, but, you can do it

I.m not that smart but I aqm loving. I,like you am 52, and I contracted TB on the the hospital of which I was the President of. They tried to blame it on me, but I was and am tougher than those pantywaists, but the details are mine alone. So I empathize, but as you are saying, what do I do now? You say that you can't travel.

Ask yourself what can I do that doesn't involve traveling? What career training or counseling is available to you? Can you work out of your home?
Do you have long-term disability insurance?
Can you trade down to less house? If you can create cash flow, suficient enough such that you do not have to draw down the $200k in vested, if placed in a no-load index fund, assuming a nominal rate of return consistent with the hisgtorcal long-run average of approx. 12%, it will doubble to $400k in about six years. Be a little more conservative (such that any surprises are more likely to be of the happy variety, assume 8%/yr and your $ will double to 400k in about 9years. In any case 400k will provide about 16k/yr non-inflation adjusted income per year. Not much, but better than not having it. You state, that the prognosis of your pathology is progressively degenerative. Make and save as much money between now and incapacity as much as possible.
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Old 08-15-2007, 11:09 AM   #6
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Welcome to the board. Sorry to hear about your health issues. My wife also lost here job after going on disability due to surgical complications. I retired earlier this year and we are trying to do as much as we can as long as we can while we still can.

I hope your business venture is successful enough for you to gain some additoinal funds so you can have a more secure retirement. There are many many people in your similar situation and it is uncomfortable to say the least.

Good luck and welcome to the site.

Work? I don't have time to work....I'm retired.
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