MS
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NEVER buy a new auto--the thing loses (not looses) thousands of dollars in value the second you drive it off the lot.
Buy old, serviceable cars that get decent mileage and can be maintained easily.
I won't lose my house. I bought what I could afford. I didn't get any whacky financing, either. Now I have a car free and clear (not fancy) and a home free and clear (not fancy, either) and I can afford to keep it warm in winter, because it isn't a massive faux-palace of excess. It's small and sustainable.
You'll just have to push on as best you can. You really have no other choice, if you think about it.
If you're out of work, look agressively for another job. If you're out of your house, look for a roommate situation if you're single, or see if you can't get help from family if you're married--maybe a family member has a "mother in law apartment" they can let you occupy while you pull your life back together.
As for your retirement, it's probably gone, baby gone. Everyone made fun of me for investing in savings bonds to augment my government pension. All of the people who laughed at me, well, they've got "portfolios" that aren't worth crap, and I'm sitting on a fair ton of cash after many, many decades of disciplined saving.
I also have a little money in stock, not much--but it's energy stock (to include "green" stuff) and it's doing OK.
Good thing I'm not "feeling the pain" though--because I've already had to help three family members out of work, and one who got cut from full to part time.
It's hard out there. It's not going to get easier. |
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