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I need some sound advice!?

I turn 60 in 3 months and find myself in the awkward position of having to start over----literally. I have a home that is currently upside down (and I love it----been here a long time), have a retirement fund that's taken some big hits in recent years and probably won't let me retire comfortably----ever, am in debt to the tune of about $15,000, little savings to speak of, am paying the IRS for back taxes, alone and pretty discouraged right now. On the positive side, I guess, I have been making payments on the unsecured debt that will have it paid in three years. When I get one thing paid, I put that money toward savings and another bill. My friends are beginning to retire and enjoy their lives while I feel like mine has gone very haywire. Any ideas are welcomed!

Update:

Thank you for your frank observations of my situation. I just need to know that there's a light at the end of the tunnel!

1 Answer

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  • Kerry
    Lv 6
    10 years ago
    Favourite answer

    well you've got two yrs to go before you can collect any SS money to start with, and it will be

    reducted by 25% if you ck out at 62. You've done something wrong along the way if you and

    uncle are at odds over the taxes, and he won. charge cards are your downfall obviously here...

    cuz its gonna take you that long to get rid of it all. savings? good idea, but they're not earning

    anywhere near what c cards/debt is costing you...actually be better to apply more cash to get

    the old bills outta your hair. your retirement acct may come back, but its doubtful the way

    things are going....happy in the house? keep it/you cant live anywhere else cheaper than there...

    there are 12 million mortgages under water in the US today, so you're not alone.

    like you attitude there..at least you're able to keep your head above water/many....many cant

    even begin to compare with where you are today......keep up the good work and watch yourself...

    you've already spent way too much and now the piper wants his due.

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