Through most of 2008, I was convinced I could ride the bear market out out and wait for the market recover. However, the market performance in the last quarter of 2008 and the first two months of 2009 has been causing me to rethink our plans.
We've already taken the following steps:
Here are the additional elements that I am considering:
Our efforts to reduce spending have been progressing well. It appears we will meet or exceed our goal of cutting costs by 5%. The progress on part time jobs has been much slower. I have put in several applications but have not heard back, leading me to assume I am not being considered. My success rate on part time jobs is 20% at this time, although I am following up on two more leads.
Finally, I'll be working on applying for a full time job and determining how to reduce our mortgage over the next two months.
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This is not financial or retirement advice. Please consult a professional advisor.
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