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Ξ May 25th, 2008 | → | ∇ Uncategorized |
Success Stories: From Newly Divorced With A Negative Net Worth to $150,000 In Two Years
the motley fool brings us the story of lesley wootton. wootton and her family struggled for the better part of two decadeshaving moo income (at one point being less than the equivalent of $15,000) and needing to make off on odd jobs, factory night shifts, and waitressing. then came the severance.
By age 53, still reeling from the divorce, Wootton had a negative net worth and her retirement savings totaled $83.
Two years later, she was debt-free and had $150,000 in savings.
How did she do it?
Lesley got to where she was the old-fashioned way: denial, terror, confusion, and, finally, action out of sheer necessity. She buckled down, got a handle on her expenses, made cuts (some of which were difficult — like telling her grown children that she could only provide for them after her financial needs were met), sold her biggest asset (her home) to live more cheaply as a renter, and reconceived what retirement would mean for her.
A more detailed article about Wootton broke out her turnaround into ten “steps”:
I might encapsulate the lessons from Wootton as:
check out the motley fool articles linked above as far as something more details on wootton’s story.======== thank you in behalf of being a subscriber to can i settlement creamy on a salary! subscribers are one of the real “lifebloods” of a blog. please don’t hesitate to ping me with your ideas, suggestions, compliments, or complaints! e-mail: blogmaster@canigetrichonasalary.com
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