After the death of my father, I was sitting pretty financially. I had enough money to last well into old age as long as I was frugal. Since I limit my wild spending sprees to Thrift Shops and Dollar Stores, I felt secure.
Not long after my house was repaired from the 2 hurricanes, I received a call from my Financial Advisor. He wanted to come over and talk. I thought something was up, because this was most unusual.
Within 5 seconds after stepping inside my house, he asked if I ever intended to get married. -- It seemed a strange and rather personal question. I told him, "No, I honestly don't see it in my future."
There was a problem, he said. I held my breath. He inquired if I was aware of what was happening with General Motors. At the time this was all over the news. But I was still unsure how this affected me.
"The bulk of your investments are in G.M. Bonds," he told me, "G.M. could go under!"
"What!?" I exclaimed. I reminded him of my instructions to put me in only the safest investments possible!
"I thought nothing could be safer then G.M.," he replied.
Yikes! Later on the evening news, there was talk of General Motors going bankrupt. Geez!!! I'd have to sell my house and live in a tent in the woods! I'd be eating cat food and crickets.
I phoned my Financial Advisor and told him to get me out of G.M. fast! Yes, I knew I'd lose a lot of money. But at least I'd be left with something! Well, that move cost me $60,000.!!! And shortly after, came the news that our government was going to bail out G.M.!
What??? This was unprecedented. I didn't know they were even allowed to do that! I thought it was unconstitutional since General Motors is not a government business. This fell under the category of SOCIALISM! And it happened on PRESIDENT GEORGE BUSH'S watch too, folks!
I should have left my money alone. Unfortunately, I don't own a crystal ball.
I started looking for employment. I had been out of the work force a long time. Considering my history, I doubted I could pass any type of mental health screening. Trying to explain to prospective employers that I had severe anxiety attacks, O.C.D. and other disorders I won't mention, would probably get my application shredded before I was out the door. Plus I understand too well why someone would go postal. To say I'm not a people-person is an understatement.
Besides the above, I wasn't young, and neither was I computer savvy. Soon, I discovered I was unemployable. But I needed income! The few jobs I qualified for, payed peanuts and wouldn't hire me anyway.
Desperate, I emptied my bank account and gave it to my Financial Advisor. I needed some way to generate income, no matter how small. And that's exactly what I got!
I'm constantly looking around for ways to generate more income. Most I have looked into, are outright scams. Some are legitimate, but cost too much up front, with no guarantee of revenue. And Lord knows, I have no head for business or figures.
Of course the Nigerian Prince has emailed! As well as the dying wealthy widow who wants to transfer all her millions to me because she knows in her heart that I will be generous with those who have less. -- Yeah right!
Fortunately, my big loss could be written off on my taxes and carried over from year to year. So I haven't had to pay Income tax. I am one of those victim/moochers of whom Mitt Romney referred with such disdain. Needless to say, Lord Romney will not be getting my vote!
My Financial Advisor had been wonderful during my father's illness. He even drove my dad to chemotherapy once. It was the time I had to stay home to mop the kitchen floor while waiting for a refrigerator repairman. I told my C.P.A. I didn't blame him because it had been my decision to get out of G.M..
The C.P.A. disagreed. He explained the situation didn't happen over night, there had been enough red flags along the way. Had my Financial Advisor been on his toes, he could have gotten me out safely in plenty of time.
That Financial Advisor left the business a short time later and moved to another state. Now, I have a new one. So far, I'm more than pleased with him. He is prudent with what I have left. Plus the poor fellow has put up with my paranoia caused by his predecessor.
Now, I'm following a life-long passion by writing and publishing my own books. This gives me a great amount of satisfaction and fulfillment, but very little monetarily.
I'm frequently on the receiving end of unsolicited advice; others insist that I need to do this or that with my life, time, etc.. Frankly, it annoys the hell out of me! As long as I am not sucking the tit of the Taxpayer, stay out of my business!
You can have perfect plans, do everything right, and still be blind-sided.
I would be lying if I told you the future doesn't scare me. I have two options in the coming years. ONE: A little, run-down hacienda in some developing third world country. TWO: I could wrap my lips around my father's old semi-automatic. -- The one I choose all depends on my future health.
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