Finally got my settlement

Aga Posted: Dec 14, 2004 08:52 PM

Finally got my settlement

from the car accident that we were in last year... I expected more money especially since I have had back problems not to mention being scared of driving... anyways, I guess my suffering doesnt qualify for more on the positive side, the money will help with the wedding planning... also, what is a good way to invest it? open up IRA or something? suggestions welcomed

February05 Posted: Dec 14, 2004 08:57 PM

Re: Finally got my settlement

Im sorry, Aga!!!

Im so happy that youre still with us though!!

Aga Posted: Dec 14, 2004 09:01 PM

Re: Finally got my settlement

I am alright just a little annoyed that my pain is worth so little, but hey what you gonna do, you have to move on

February05 Posted: Dec 14, 2004 09:04 PM

Re: Finally got my settlement

its still so frustating though that the people who fake it get more than the ones who REALLY are hurt. i'm so not fond of our legal system

junie20002 Posted: Dec 14, 2004 10:02 PM

Re: Finally got my settlement

wow you got yours...congrats and sorry at the same time... I had an accident 2 yrs ago and no settlement yet...

brooklynbridezilla Posted: Dec 14, 2004 10:03 PM

Re: Finally got my settlement

Aga Posted: Dec 14, 2004 10:35 PM

Re: Finally got my settlement

Posted by junie20002

wow you got yours...congrats and sorry at the same time... I had an accident 2 yrs ago and no settlement yet...

we could go to court but I figured it would take too long and it doesnt guarantee more money good luck with your case

MrsA814 Posted: Dec 15, 2004 12:56 AM

Re: Finally got my settlement

I'm sorry you didn't get what you want. But you aleast got something. That is good that it is going to help your wedding. My friend had the same problem and she paid the wedding with it.

BlondeJD Posted: Dec 15, 2004 01:36 AM

Re: Finally got my settlement

Aga--sorry you didn't get what you were hoping for Same thing happened to my mother a few years ago as well. If you need some investment help, let me know. I used to work at a great investment firm and can put you in touch with some financial planners (not expensive, I promise!). Good luck sweetie!

azoodie Posted: Dec 15, 2004 07:02 AM

Re: Finally got my settlement

well i'm glad you finally got SOMETHING aga!!!! we miss you round here ya know?

Laura1976 Posted: Dec 15, 2004 08:08 AM

Re: Finally got my settlement

If your looking to invest the money, but want to use it in the near future, an IRA is not what you want. Once money is in an IRA you can't take it out until your 59. If your looking to gain interest on it until the wedding, a CD would be your safest bet.

hbradio Posted: Dec 15, 2004 09:30 AM

Re: Finally got my settlement

Congrats Aga!!!! I am in the middle of a case myself. Good thing you got it before your wedding!

Borricuamorena0905 Posted: Dec 15, 2004 09:32 AM

Re: Finally got my settlement

Sorry you didn't get ad much! on the same note, glad you have some dough to help toward your wedding!

PinkSoil Posted: Dec 15, 2004 09:57 AM

Re: Finally got my settlement

I went through the same thing... I waited FOREVER for my settlement to come in. I was rear-ended by a Verizon truck, and ended up with a totaled car, and chronic back problems. The way my attorney was making it sound, I thought I was going to be a millionaire. Well, not really, but I thought it was going to be really, really, really good. It ended up not being nearly as much as I expected. But... it was better than nothing. It would have been great if the attorney wasn't required to take 1/3 of it for his own payment.

Aga Posted: Dec 15, 2004 11:48 AM

Re: Finally got my settlement

Posted by azoodie

well i'm glad you finally got SOMETHING aga!!!! we miss you round here ya know?

ohhh thank you just busy with holiday preparations

Aga Posted: Dec 15, 2004 11:49 AM

Re: Finally got my settlement

Posted by Laura1976

If your looking to invest the money, but want to use it in the near future, an IRA is not what you want. Once money is in an IRA you can't take it out until your 59. If your looking to gain interest on it until the wedding, a CD would be your safest bet.

I was going to open up IRA because I know if I dont do it now, I will keep putting it off.. I know we are still young but you gotta think about the future...

Bebalina Posted: Dec 15, 2004 11:54 AM

Re: Finally got my settlement

Posted by Aga

from the car accident that we were in last year... I expected more money especially since I have had back problems not to mention being scared of driving... anyways, I guess my suffering doesnt qualify for more on the positive side, the money will help with the wedding planning... also, what is a good way to invest it? open up IRA or something? suggestions welcomed

oh aga....i completely understand....
FH and i got into an accident in january of this year....no settlement yet, but sounds similar to you, i have perm. back damage, and i was terrified of driving....didnt start till May again...and i wasnt even the driver in the accident, just a passenger...
but I hope mine settles b4 the wedding, i could really use it.
Best of luck!

David'sbride Posted: Dec 15, 2004 11:58 AM

Re: Finally got my settlement

Sorry for your pain and troubles.

As for investing. An IRA you cannot touch (w/o severe penalities until you are ready to retire) until age 64 1/2. That does not mean it is not a good investment but if I were you I might not put the entire thing in.

The stock market has only averaged about 1.7% rate of return this year.

Of course, real estate is the way to go. It has outperformed every other investment in recent years. Can you just put it in a money market account or a Certificate of deposit for an appropriate amount of time and use it for a down payment on a house?

I tend to know so much because I teach Economics and have been managing my Dad's money since he had a stroke 7 years ago.

As always it depends upon your needs and the amount. Does anyone in your family have a financial advisor you can talk to?

Aga Posted: Dec 15, 2004 12:00 PM

Re: Finally got my settlement

Posted by Bebalina

Posted by Aga

from the car accident that we were in last year... I expected more money especially since I have had back problems not to mention being scared of driving... anyways, I guess my suffering doesnt qualify for more on the positive side, the money will help with the wedding planning... also, what is a good way to invest it? open up IRA or something? suggestions welcomed

oh aga....i completely understand....
FH and i got into an accident in january of this year....no settlement yet, but sounds similar to you, i have perm. back damage, and i was terrified of driving....didnt start till May again...and i wasnt even the driver in the accident, just a passenger...
but I hope mine settles b4 the wedding, i could really use it.
Best of luck!

good luck to you as well, it sucks... we had an accident like 3 months after we bought our brand new car... we were driving home in the middle of the night and what do you know, no cars, no traffic and some guy ran a red light I just wonder how these people get their licenses?