Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

11 of 65
BACKNEXT
Eric Butterfield: Fortunate, but worried
Eric Butterfield: Fortunate, but worried
Eric with his son, Thomas
Database marketing manager, 41, Decatur, Ga.

My wife and I both graduated from college in 1991, during a big recession, so we are very familiar with the difficulties of keeping or finding jobs in hard times. We learned a lot from that experience, so we have done what we can to position ourselves for the next (current?) recession.

In 1999, we bought an old and small house that required a lot of improvements and more space. Over the last several years we have done some major renovations and additions, and have achieved our goal of doing it all without taking loans.

We purchased our reasonably priced cars outright, pay our credit card balances each month and have several months of savings to rely on if one or both of us lose our jobs. We are fortunate that our only debt is the house, and that we both have good paying jobs.

This is all good, but I lose sleep at night thinking about how quickly it can turn. What if one of us is injured? Medical bills skyrocket hourly. What if the foundation on our house sinks? There goes our savings. What if the drought in the southeast continues? You can't sell a house in a city where there's no water. What if one of my children needs heart surgery to fix a defect? Insurance only goes so far.

NEXT: Eric Isenbarger: Planning pays off
Last updated November 15 2009: 6:21 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
Top luxury hotel suites for business travelers For many people, you can't put a price on comfort. More
Million-dollar startups: These firms scored big sales their first year Their first year in business, these companies generated $1 million in sales. More
The 10 best states for retirees It might be worth moving to a new place to find your dream retirement home. Check out these 10 states. More

Special Offer