Economic Crash Hits Home

Sooner or later the reality of it all had to hit. Like millions of Americans, we lost most of our retirement money in the stock market crash. We thought it had been safe in our 401K.  Even so we figured, hoped, like millions of Americans, that it would rebound. We did not panic, even though my husband is 64 years old.   We still hope so.

And our home, like mostly everyone else’s, is not worth what we paid for it four years ago. Ok, well fine, we don’t want to sell it anyway. We love our cozy little place out in the middle of nowhere, PA. We look forward to our grandkids’ visits out to the country, where we can take them fishing, have sleepouts on the screened porch, catch lightening bugs, that kind of thing.

However recently just before the crash, my husband, primary wage earner, left a very well paying, secure job, to take one closer to home, and me. And that has turned out to be a disaster. Long story short, the company restructured and let go the man who hired him.  Then the other day Alph comes home and tells me there are strong rumors, from good sources.  that the place is going to fold.  Yes, I know, a rumor is just that,  a rumor. But based upon what my husband sees of the management of the place, which he was hired to fix, the rumor seems highly credible.

With no money to draw on from our 401K  or any home equity, we are one paycheck away from no house, no security, no golden years. Luckily, he has already networked with a previous boss who is also a personal friend, and  has consulting work lined up with him for sometime next year which should turn into a full time job.

But still…  one paycheck away from public assistance.

It wasn’t supposed to be this way.  Not at our age. I grieve for the lost, false sense of economic security. Ignorance was bliss.

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8 Responses to “Economic Crash Hits Home”

  1. viv66 Says:

    That’s seriously crappy news for you.
    I shall pray.
    *hugs*

    Thanks Viv.

  2. leakelley Says:

    There are so many in this position right now.
    Many of my own friends are experiencing your exact circumstance—the timing was not good for changing careers.
    I hope your husband’s friend can offer some consolation for you both.

    It definitely does…took the panic away anyway.thanks Lea.

  3. J Says:

    Having just gone through 6 weeks of not knowing whether or not I got to keep my job was less than pleasant. It also seems to me that management’s first solution to any economic down turn is to get rid of the people who are there to actually help improve the situation, whereas management should be the first to go since they will never be anything other than an expense to any company and are there only to create time wasting work for others simply to justify their own position! When will they learn that one day, they’ll end up in a situation where there are no one left to manage! (Sorry for the long rant!)

    I sincerely hope that everything goes in your favour.

    My warmest thoughts and hopes for good news are with you.


    Thank you so much J.

  4. William (Wick) Davis Says:

    Hi there …

    I am hoping you can help me rally all the “lupus troops.”

    March 3, 2009 is the Lupus Foundation of America’s 11th Annual Advocacy Day on Capitol Hill. Even if you cannot physically join us on Tuesday, there are still several things you – and your family and friends – can do to help raise awareness about the seriousness of lupus.

    To learn all the easy things you can do from the comfort of your home, please go to http://lfa-inc.blogspot.com/2009/02/even-if-you-cannot-be-in-dc-for-lfas.html

    To take it a step further, if you’re willing to do so, I’d really appreciate it you would consider posting this information (what you find at the link to my blog) on your blog, and letting all your friends and family know how important this is to the lupus community.

    If you have any questions, feel free to email me at davis@lupus.org.

    Thanks for your help.

    All the best, Wick

    Posted and done. Thanks Wick.

  5. mssc54 Says:

    It’s at times like these that the proverbial ruber hits the road!

    Who do you have MOST FAITH in? Man’s provision or God’s provision?

    Thanks mssc54….I have most faith in God….but I haven’t even been able to pray…

  6. viv66 Says:

    I couldn’t agree more with J above. My own work situation mirrors this exactly. Finally, yesterday I was offered some work for the end of March, but no teaching, just couriering. I cannot understand it, especially as I am a more experienced and able teacher. But since the courier work is with visiting German teachers who I know and like, I am just grateful for this, and for the opportunity to spend time with them again.
    My immediate boss would probably get rid of me if she could, but that’s just a personal clash thing, nothing to do with professional issues.
    In the UK, one of the guys responsible for a great deal of the mess here, refused to give up any of his enormous pension, a mere tenth of which is far greater a salary than most professionals would ever hope to earn.

  7. vanessaleighsblog Says:

    Psych: I am so sorry to hear of this situation for your husband; is your business faring well these days? Everything seems so sketchy and difficult; it really is hard to know how and when the impact will be felt by all of us. I will also pray that you come through this alright as a family….

    Vanessa, thanks for the support…my practice has been severely hit as well 😦

  8. fibi Says:

    Thinking of you… Sending you light & love..

    Thanks fibi.

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