The state of the economy is very very frightening. I'm so worried! My husband and I experienced a sudden loss of job 4 1/2 years ago, when he woke up in heart failure and then ever was able to work again. It was so sudden and unexpected - we were not prepared. It was so scary but we made it through. He was about to get his social security disability and medical retirement, but it is just a fraction of his previous salary - but at least we have it.
I have a good job and I am tenured at my University so that is wonderful. But much of my retirement is gone. I don't have a pension - only my 401K and you all know what that looks like. I don't have any plans to retire anytime soon - now it looks like I may have to work till I'm 85 - I'll be that crotchety old professor hobbling around with a cane!
We have learned to live much leaner since my husband's illness. We just got word today, that his co-pay on his medications will go up from $35 for name brands to $65. That's almost a 100% increase, don't seem fair. On the other hand we used to pay $10 for generics and now the first 3 generic prescriptions will be free - big whoop (a whole $30 savings) - and then $10 each! I guess it is something though. Problem is that he takes 13 prescription meds!!!
This is going to hurt the pocketbook. Some of them are generic - but some do not have a generic alternative.
I also worry about our kids. SIL is district manager for a concrete company - their business is way down. I don't worry about him losing his job so much as I worry that they will close some of the plants and he'll have to move. The company is strong and I think they can survive slow business, but I fear they might have to relocate - there are worse things though. He certainly will not get the big bonus this winter that he is used to.
My daughter does not work (she has a two year old) - but she could if she needed to. She is an elementary school teacher.
I worry so much about the needy. For example, I work with an adult day care center that cares for the elderly who can't stay home alone during the day. They depend on donations and funds to make ends meet. Medicaid pays for adult day care but not enough per day to cover the costs. If people are not able to donate, I don't know what will happen. Same with organizations like the food bank. If people can't afford to donate, then they won't have enough food to help the needy!
It is not a pretty time right now. I don't know when it will get better.