Reply to After how much money did you think you "have money"?

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[quote=Anonymous]I am older and have a high net worth through a combination of 401K, real estate investments, and a relatively small taxable account.

I have always lived well below my means, even at a low income level, and have always had enough money saved to take care of emergencies without panic.  I don't shop higher than Safeway and have never stopped looking at price per unit in the grocery store.  We drive used cars and very seldom eat out or travel.

Things have changed, however, as I am now supporting an adult child in another state who has developed significant health problems, with a fair amount of medications etc. not covered by insurance. I feel stressed every month when the credit card bill is due; after paying in full, there is so little left and my once healthy emergency fund has dwindled into a mere ghost of its former self.

I am old enough to withdraw from my 401K without penalty, so that has become my emergency fund.  I have a colleague in the same position due to adult child medical problems.  The first and, thank goodness so far only, time I had to withdraw I consulted with him on how he handled the tax aspect.[/quote]

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