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Subject:  Re: Not IRA eligible: savings ideas? Date:  11/11/2013  8:54 AM
Author:  JLC Number:  119479 of 130717

Any suggestions?

... my only income is SSDI for the foreseeable future ...... seeing if I can return to work ...

Check to see if returning to work and/or how many hours would disqualify you from receiving disability benefits. Would suck to try and return to work full time only to not be able to and then have to wait for a year before receiving disability again. Hopefully part time work as a trial run is an option.

With that in mind, build an emergency fund first. The emergency fund is to cover all living needs: rent/mortgage, food, necessary utilities (electricity yes cable TV no), car, etc., etc., etc. Many people say 6 months but in your case I might suggest 12. Nice to have a good cushion. Keep this in a money market account.

Then, and only then, look at investing. And until you have earned income, taxable accounts is your only option.

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