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With 30yr mortgages and health insurance tied to employment, I don't see what a person can do to be completely prepared for a job loss. A person could pay off their house ASAP but health insurance will still be a killer. A person in his 40's or 50's could easily be unemployed for more than 6 months. I know engineers in that age range who have simply given up on ever finding employment in their field again.
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1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13
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