Cathy Classics by Cathy Guisewite for May 11, 2020

Let me get this straight, they still have 30% of their retirement account (which probably was nowhere near the shabby state mine was in when I started withdrawing) They lost half the value of their house—-but most couples with kids this old have usually paid off the mortgage, so the value lost is the paper value, it doesn’t affect your financial state TODAY. If you’re getting dividends you have some stock. Sell the stock and stuff most of it into your retirement account. I sense a lifestyle change, not so many new clothing or trips, not being able to do some of the things you used to do, etc. I know when our finances changed for the worse we had been going to at least 3 movies a month. We cut it back to 1 a month until Hubby lost his job. It was none for a while, but now that we’re on SS I can budget a movie every 2-3 months. And no, our SS is not that great as we were working schmucks, not accountants, financial counselors, or other 6 figure jobs. Anyway, my rambling goes to the point I don’t think they needed to sell everything and barge in on their married kids. I think we have a hyperbole going here, especially with that MIL. Commiserate, be understanding and kick them out so they can learn to stand on their own. In another town. Mebbe even another country……

It’s hard to deal with someone else’s trouble when they start messing with our stuff.

They still have money and a house. Why aren’t they home??

So you think your life is over and you need to live with your son, yet you’re going to break his stuff while you’re there? Jeez, I’d be tip toeing around, trying to help out. But Quabaculta is right, they don’t have it so bad. They are not on the streets begging for food. (eye roll)

Hello Cathy friends! Happy Monday! Have a great and healthy day, all!

You lost half the value of your house? Were you planning on selling it? If not then it affects you not at all.

As everyone else has pointed out, their losses were all paper losses – well except for the dividends. But if they have a retirement account then they still have money to draw on until the market recovers – unless of course that 30% is not enough to live on. I know my financial advisor called at the beginning of the month to let me know my retirement fund was down. I, rightly, pointed out that I don’t care as I am not even drawing on that money and won’t care until I do. By that time the market will have recovered and I will probably be much further ahead in the end.

Sunshine today but still cold. Got a bit of a surprise yesterday. My wife and I drove the hour north to visit our hometown – and visit her parents’ grave. The lakes there are still frozen over with only a little water around the shoreline. Our lake is way bigger but is now ice free. What a difference 100km (60m) makes!

Even though today is Monday, I hope everyone has a sunny day.

Often, it’s all about priorities in life. These two nut-jobs sure have some interesting ones, too … ha.

HI, MOM. Hello, “Cathy” Clan.

I did the same as you, hendelca…I’ve been through multiple recessions and the market has always recovered. I think this plunge could be the worst, but we’ve been expecting it. And I’ve never understood why people feel they have to get rid of their house when the value drops…that’s now how it works folks….