Sunday, November 23, 2008
The Economy and the Bailouts
The talk about the economy is unrelentingly bleak. We have seen our 403b accounts shrink by 1/2 for JMM and 1/3 for me. Mine has been somewhat protected in that 1/2 of mine is in an annuity which guaranteed a 3% return this year. The annuity is invested in ING Stable Value which is good unless it goes under. Other than the 403b losses, we are really doing just fine. We all have jobs. JMM, FM, and TSM. None of us are in immediate peril of losing our jobs. We are all in good health and able to work. This time next year the house will be paid off and we will have no debt. If we remain in good health and employed, we will have time to pay cash for new vehicles and build a CD ladder of $20,000 each month before we retire at 66. Three things are of utmost importance: 1.) Do everything we can do to remain employed. 2.) Stay absolutely focused on the financial plan. 3.) Do everything possible to remain in good health.