It's happened. I knew it would happen but I was hoping it would happen in July. Unfortunately I was out by a month. My deposit came in from my RRSP today. It was half of what I expected, and it was clearly the last withdrawal, the end of my money. As of this moment I am officially, completely, thoroughly and totally... broke.
I had planned for my RRSP to last until the end of July. However the crunch in the stock market took care of that. It doesn't really make a lot of difference; it was only a matter of time. Declining income, the loss of my apartment, the increasing damage from ALS; I think my time is getting close to being over. It is perhaps poetic that this should happen as I finally get ready to move back into my home.
Of course my truck will be the first thing to go. I can't make that payment anymore. That should happen sometime over the next month or so. I was wondering what would happen first, Would I lose my ability to drive, or my truck? It looks like the truck wins. After that, who knows? Certainly Visa and Mastercard are going to be unhappy. They are next in line.
I am going to have to figure out what to do about my mortgage. I can probably get away with things for another month or so, but by my birthday in July I will roll into arrears on my mortgage. It will take them a while to evict me, and it will make for fairly bad press, but that is what is likely to happen.
My simple hope is that I will not live that long. That was the original plan, that I would die shortly after my money ran out. Unfortunately it looks like I will outlive my finances. I don't know that it's a bad thing; it's just the final insult from this shitty situation. It could be worse. I'm just not sure how.
What can I do Rick.
ReplyDeleteRichard please start a go fund me page, many would like to help. You have friends out here. Xo
ReplyDeleteHi Renee
DeleteI have a GoFundMe page setup. Here is the link. http://www.gofundme.com/6z2yzg
Do you have a life insurance policy with an Accelerated Death Benefit feature? If so, and depending on the policy language, you can access a percentage of the death benefit while you're still living. In my case, it's up to 75% of the face amount if my doctor says I have less than a year to live. It diminishes your estate, but brings the money into the hear and now.
ReplyDeleteAlas, no Whole Life. I had term up until I got sick. I am sure you can imagine how that worked out. I know a lot about viatical settlements, but I can't get one.
DeleteI'm very sorry to hear that. My coverage was part of my employee benefits plan (term life insurance), and it had a waiver of premium feature that kept my coverage inforce when I was disabled without having to pay the premiums. I knew what WP was, but hadn't realized that I had it on my coverage, or that I had an accelerated death benefit. You sound as if you know your way around financial things, so forgive me if this is a ignorant question and you've already looked at this, but do you own your apartment? Is a reverse-mortgage an option? It works in a similar manner as an accelerated death benefit or a viatical policy; the asset ultimately goes to the mortgage company and the terms aren't always the best, but it puts money in your pocket.
ReplyDeleteNot enough equity for a reverse mortgage. You need more than 50% before most financial organizations will take the risk.
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