I've sustained myself in the recovery, whereas I look at a lot of my colleagues, and some were devastated.
I feel lucky. By a simple twist of fate, it didn't happen to me.
I was an accountant in the aerospace industry and as the economic recovery began, I was two years away from a planned retirement from Boeing. My 401(k) had lost 9% during the recession, but by mid-2009, I was incrementally investing back into the stock market.
A few colleagues with small businesses in the construction industry were devastated by the recession, so we devised a plan to refurbish three of my rental homes bought over the years. That way, I could have fully repaired housing before retirement and help my colleagues through their economic challenges.
I'm particularly proud of a turn-of-the-century Victorian we restored.
In March 2011, I retired at the age of 55. I paid off all debt, including mortgages, and stockpiled $100,000 in liquid assets.
Am I better off? In the context of maintaining the same lifestyle, before, during and after the recession, I feel that I am no better off.
However, in contrasting my situation with Americans who were victims of unemployment, foreclosure, 401(k) depletion, and a host of other ills, I am better off. I feel so fortunate to be in a situation where I missed all that.
The wealth gap among my friends and colleagues is now painfully obvious.
I really enjoyed the president's comments about keeping jobs in America. We need to work on infrastructure. I would also like to see him provide more incentives to young entrepreneurs to create jobs.
