Fiscal insecurity

While still employed, the thought of losing my job caused dread -- and especially fear of financial ruin.
Fortunately, it didn't turn out that way for us.
There were a number of reasons for this.

• State support is generous in Massachusetts.
• The stock market did very well over the past year.
• It is not difficult to live frugally when tuition bills are paid.

At least the timing was good.  My daughter is still in college but we had set enough money aside for tuition a few years ago.  We have one child and we don't need to support our parents.

State compensation was about a third of my earnings but it was enough to live on.  We no longer put money aside for retirement and that had been the second largest budget item after taxes.  Income taxes went down and we got a big refund this year.

We have no debt other than a mortgage.
Our net worth is significantly higher than it was a year ago.
We were prepared, even though we didn't know it.