Crash of 08, Also Known At The Panic of 2008
Here I am, it's August 8, 2012, and I am barely managing. I had my investment account with Citi Smith Barney starting in April of 2006. The market was sideways then so I wasn't making any money on my investments. One month I might see a plus sign of $3,000.00 and the next month I would see a minus sign of $3,000.00. Naturally my Broker was pushing "Citi Group" stock. Some was preferred costing $90.00 per share.
In April 2008 I lost $43,000.00 in one quarter. I consulted with my Broker who said he looks at my account every day to see how he could best protect my investment account. Six months later my Citi stock fell from $90.00 a share to $5.40 per share. I, like so many didn't know what to do. For me and others I consulted with felt the market would bounce back. Of course we know now we really had no idea of how bad the "Crash" would be.
By November 2010 I was bankrupt. The only income I have is Social Security, which back then was about $800.00 a month. I have several health issues and in 2010 the total cost for my prescriptions was $12,000.00. My co-pay was right at $6,000.00. Just one of my prescriptions cost $800.00 a month.
Thankfully Medicare deemed me as "Medically Needy" and in 2011 Medicare Part A and B, along with my Plan D premiums was paid by Medicare and now I pay no more than $6.30 for a prescription. Had I not gotten this "cost share plan" I could not have made it Physically or Mentally.
I just sold my car so I could have dental work and yearly tests done that I have neglected since 2010 because I could not afford the co pays for MRI's and Lab work.
I own my home so I don't qualify for any of Obama's Entitlement Programs. His goal was to give money (sometimes Free Cash) to help Homeowners catch up on their mortgages and avoid Foreclosure. His plan did not work.
I have many things I want to share with folks who read my Blog.
Connie
In April 2008 I lost $43,000.00 in one quarter. I consulted with my Broker who said he looks at my account every day to see how he could best protect my investment account. Six months later my Citi stock fell from $90.00 a share to $5.40 per share. I, like so many didn't know what to do. For me and others I consulted with felt the market would bounce back. Of course we know now we really had no idea of how bad the "Crash" would be.
By November 2010 I was bankrupt. The only income I have is Social Security, which back then was about $800.00 a month. I have several health issues and in 2010 the total cost for my prescriptions was $12,000.00. My co-pay was right at $6,000.00. Just one of my prescriptions cost $800.00 a month.
Thankfully Medicare deemed me as "Medically Needy" and in 2011 Medicare Part A and B, along with my Plan D premiums was paid by Medicare and now I pay no more than $6.30 for a prescription. Had I not gotten this "cost share plan" I could not have made it Physically or Mentally.
I just sold my car so I could have dental work and yearly tests done that I have neglected since 2010 because I could not afford the co pays for MRI's and Lab work.
I own my home so I don't qualify for any of Obama's Entitlement Programs. His goal was to give money (sometimes Free Cash) to help Homeowners catch up on their mortgages and avoid Foreclosure. His plan did not work.
I have many things I want to share with folks who read my Blog.
Connie
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