My husband ,42,became disablied this spring, and just won his disability last month. So far all the doctors, including local univerity hospital, have been unable to diagnous the nuerolgial problem, but guess it will continue to get worse until he is unable to talk and move. He can still do many thing now, but cannot walk unaided, or type well. Use to earn about $100K. We have two girls, 9 and 13. I have been a stay at home mom for 9 years. We live on an acre, with a mortgage of $165,00, house tax value about $280,000. The girls have been in private school, and we own a motorhome, owing $78,000 on it,. It blue books at $75,000 but we don’t think we could sell it for that.
We are at a sudden crisis, as his very generous ex-boss paid him full wages and benefits before the social security money came in, and p romised us the difference after the benefit came. Now he is unable to give us any more. So we are forced to find a Plan B. We pulled $20K out of his 401K to pay for medical bills and a major remodel to accomate my husband downstairs in his wheelchair. We only have $40K left. I do not have any money in a 401K. With only the disabilty money we are almost $1500 a month short of what we usually spend.
How do we decide what to sell and how to downsize? Should I go back to work and leave my husband at home (I don’t feel safe doing that), and with my skills my income couldn’t cover all current expenses. My husband wants to sell the house and move the family into the RV, touring the country and spending his last few good years together, homeschooling. Another idea is to sell both house and RV, and move the family into a mobile-park, buying the mobile-home with the equily.
Thank you for your time.
I actually like your husband’s plan. If his time is limited and his condition will grow worse it does not seem like being able to travel and spend more quality time with you guys is a bad idea. Actually sounds like something I’d do.
The key here is that no matter what you do you will need to be able to live within the disability income now coming in. Taking more money from investments to pay for things is a dead end road.
You’ll also need to think ahead about what will happen if or when the time comes that he needs to settle down in a place without wheels. How will you care for your family then?
But for now, enjoy your travels, your time together and cherish those wonderful memories you will create. Take lots of pictures!
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.