Ssi Income Limits

Lost $30000 in stock market. Should I reinvest?

The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two. Our busy lives are crazy enough without having to compare five hundred mutual funds – we just want simple ways to manage our finances and save a little money.

The month of June has seen me working like crazy to get additional posts in reserve for some periods of travel later on in the summer. My goal is to be able to enjoy these trips without worrying about writing content while also not missing a post here at The Simple Dollar.

That means, of course, that I’m working overtime right now. Today, for example, I’m assembling and working on almost a dozen reader mailbags (it’ll take me several days to do all of these).

Q1: Recovering from a big loss In 2007/2008 I invested in some individual stocks, Citi, Fannie , Freddie etc. amongst others. Since then the portfolio is at an 90% (30K) loss. I don’t NEED this money so I’m OK with riding it out for 30-40 years, in hopes of a recovery. Even if I lose it all its fine, as fine as losing 30K can get, it still hurts but what can I do, can’t beat myself up about it.

This was my first venture in to investing for retirement. Now I’m in a place where I’d like to start investing for retirement again, with a much more conservative mindset, ETF’s, mutual funds, etc. But I am terrified of losing any more of my hard earned money. So it sits in savings accounts earning 1%. My plan actually is to wait it out until interest rates go up significantly 8% or higher and just load up on 10-20 year CD’s, to play it safe. I fear this master plan will never come to fruition and since my money won’t work for me I will have to work that much harder to retire. What do you think? - Rachel

There have been very few times in history where savings accounts have paid 8% or more. In the mid 2000s, some accounts inched up to 5% with a few teaser rates at around 6%.

However, for such rates to exist, the economy has to be churning along quite strongly, causing the Federal Reserve to raise interest rates to a point where banks can make money with such interest rates. That won’t happen soon.

The problem with your initial investment is that you bought into individual stocks.

How to Apply for Energy Assistance Funding in Wisconsin | Eco ...

The winter weather in Wisconsin can be pretty darn cold and rising fuel and other energy costs can quickly drain a family’s budget as residents try to maintain a comfortable temperature in their homes. Low and middle income families , in particular, struggle to pay energy bills during the heating season. That’s why most counties in Wisconsin offer Energy Assistance to qualified families. Here’s how you and your family can determine if you are eligible and apply for available energy assistance funding.

Determine if you are financially eligible for energy assistance. Each year, the income limitations vary slightly, but for the winter 2008-2009 heating season, energy assistance may be available to you if your household’s income for the last three months was less than $3,900 for a household of one. Add $1,350 for each person living in your household to determine the income threshold for larger households. For instance, the 3-month income limit for a household of two is $5,250 and the limit for a household of three is $6,600 and so on. Look at all of the income everyone in your household received during the last three calendar months from all sources to determine if your income is below the limitations for the year. Consider self-employment income, veteran’s benefits, child support, railroad retirement, social security or SSI income and all wages.

Assemble all the materials you will need to take with you to your appointment. This will include social security cards for all the members of your household–whether they are related or not. You will also need to provide verification of income for each member of your household (as outlined in Step 2) and you will need to bring proof of all income along to complete your application. You will also need to take a copy of your most recent energy and heat bills and a copy of your lease or a written document from the landlord identifying how much, if any, of your heating costs are included as an allowance for heat in your monthly rent payment.

Meet with an energy assistance program worker to complete an application for heating and energy assistance. Be sure to take all the materials listed in Step 4 along with you, along with any other additional materials the worker may have requested you to bring along when you set up the appointment. Be patient, courteous and friendly when you meet with your worker. Services are provided to Wisconsin residents based on your household’s size, income level and heating costs. Your worker should be able to tell you whether you qualify–and perhaps even how much energy assistance you may qualify for–at the conclusion of your application appointment or within a week or so afterward.

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