Settlement Advice for WC monies

[thegloveman01]

I have Morgan Stanley as an advisor, just not confortable with his ideas. Looking for second(s) opinions.

I lost $23k/annually because of a job related injury. The courts awarded $300k for "salary differenial". They based it on my total earning lost, and a formula to take a dollar value times 4% investment to equal total earnings lost. Now I know this formula is crap, I just need to be able to invest to make enough money for future use until I can get a job making roughly my old salary.

CDs are super low, MMA are next to nothing, so the any help I can get would be helpful.

Additional info: I had to borrow $27k from 401(k) and since I lost my earning capabilities the wife left. So I owe $20k (401k), $20k (ex-wife), $20k (bills) so I will not be able to invest every penny I get. I do have a 10yr with a $15k Education IRA that I need to continue putting money into.

Any help is welcome, thank you.

[disneysteve]

Welcome. I'm not entirely clear on the whole picture but first thing I'd do is stop funding the college account. You certainly don't "need" to be putting money in there when you are 60K in debt and unemployed.

What is the deal with the 401k loan? Typically, those become payable immediately if you leave the company so where does that stand? And why do you owe your ex 20K?

Are you working at all now or collecting disability or what? Tell us your current income and current monthly expenses. Also, how old are you?

[tulog]

I would buy shares of CSCO under $21, and sell above $24, which will probably occur sometime in 2011 the next time Cisco gives positive guidance.

I'm $400K in.