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4 more years, no, might be laid off...
Old 10-29-2009, 03:55 PM   #1
Dryer sheet wannabe
Join Date: Dec 2007
Posts: 11
4 more years, no, might be laid off...

well, like most libraries there will be a budget reduction next year, which they haven't spelled out.
I catalog books, and it is one of the areas that is outsourced, so my job may be eliminated or i may have to work in a branch (with people!)...
I have been almost maxing out my 457, so after 21 years there is $180 thou in the account.
My matching retirement with the count is $100,000 total!.
I take home 1400 a month after health insurance, and I cover myself, husband and 24 year old daughter living at home. She works, but no insurance. I know about Cobra for 18 months.
husband has good pension and salary, but we will probably have to postpone the 2 nice vacations we have every year. he was planning on retiring in 2 years.
Should i start "downsizing" now? Cut out Cable, Curves Weight watchers?
I really need the weight watchers and it's only 40 a month.
Oh, I am 59, hubby is 60 so I don't think i should panic yet. Just will hate to pay the big health insurance bill. I think after 18 months with cobra, I can convert till medicare kicks in, but it will be over 1000 a month I'm sure. We both have pre exisiting conditions (he's diabetic).
Even if i survive this cut, next year will be bad, and the year after. We only have about $20000 in emergency fund. Should I cutback on the 457, and boost that up?
Any advice appreciated.

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Old 10-30-2009, 05:45 AM   #2
Recycles dryer sheets
Join Date: Jun 2007
Location: Oklahoma City
Posts: 291
Welcome ....

What about another job with benefits? I hear Starbucks offers its parttime 20hr a week employees the same healthplan as the fulltimers..... Maybe there are others out there that would be a better fit for you.

USAF Veteran -- Retired Air National Guard -- OSW -- ONW -- OIF
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Old 10-30-2009, 05:56 AM   #3
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Making some conservation efforts now might be prudent. Other places do offer benefits to 20-hour/week part time workers - Home Depot is one - but given the state of the retail job market that might be kinda "iffy".
I heard the call to do nothing. So I answered it.
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Old 10-30-2009, 04:46 PM   #4
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I agree that you should not panic; but given the circumstances that you describe, I would cut out the frills. Only you know what the latter are.

If you obtain real benefit from Weight Watchers, then I would keep paying the $40/month: which is almost nothing relative to the increased health insurance premiums if your weight balloons and you too become diabetic. It would probably a better idea to eliminate one of the two nice vacations each year.
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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Old 10-30-2009, 07:20 PM   #5
Dryer sheet wannabe
Join Date: Dec 2007
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thanks for the ideas. I know I am in better shape than most people, because we have lived below our means all of our lives, no credit card debt, or mcmansion...
I guess I'll move to the fire and money forum to get some ideas about how to allocate my 457 so when I roll it over into an ira I won't lose too much.
It's pretty conservative now.
I figure I have been working for 45 years now, and I am torn between vacations now when we are still healthy, or maybe put off until too late.
We can just downsize our vacations. I live in "Colorful Colorado" and have seen most of it except for the southwest...
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