What should I do with $43,000?
August 3, 2012 12:09 PM Subscribe
What should I do with $43,000? This needs to last the rest of my life.
posted by ~Sushma~ to work & money (25 answers total) 11 users marked this as a favorite
Long sad, pitiful story-suffice to say no one would want to be me. I'm 59 yrs old, have cancer and 2 other serious maladies that have lost me my job in sales. I was wonderfully adept at my career until I began to bleed and vomit all over my company car and customers. I received SSDI (disability) immediately ($1288/mo.USD) but private LTD fought me tooth & nail for a measly settlement of $43,000 which needs to last until death, [which I can make happen in a NY minute and have seriously thought about doing so]. I have no family support, no friends that care and no advocate to give advice. Taking all precautions prior to leaving work, I saved enough to last 9 months of living expenses but am running out and have a $1000 deficit per month after paying $660 for COBRA and $1000 mtg. I don't know if I should sell my house and walk away with my (perfect) credit intact, go without insurance and health care or fight for my home. Rent would cost me about the same for 1/4 of the living space. I have a psychiatrist and counselor, but not a soul to help me make these paralyzing life decisions. Moving is a daunting thought because physically I am too sick to do this alone. Called: AARP, disability.gov, HUD.gov, Dept for the Aging, credit counselors, Chas Schwab, Quicken Loans, LinkedIn, Twitter, ad nauseam. 1.) What should I do with the settlement? 2.) Should I sell my home and break even with good credit? 3.) Should I refinance to pay only $200 less per month (I can do that now) I am NOT eligible for HAMP or HARP since I'm current. 4.) Close one eye and fart?
Addendum-I'm a good woman with a sh***y life. I volunteer for the poor and at VA hospitals, I write grants for free and would give the shirt off my back if you needed it. I don't deserve this but it is what it is. I just don't know what to do!