14 thoughts on “One loss shouldn’t lead to another

  1. I have dealt with divorce – it is not easy to get back on track – especially when you have to deal with a reduced standard of living while still sharing the burden of joint accumulated debt – and no divorce settlement. There are other types of “losses” that happen that don’t give you a year to grieve – In my case, having a long term, full time job reduced to part-time when you are over 50- and in my field, there are no perks, no pension, no buyout/severance, no health plan – and competing with a lot of other dental assistants working 2-4 part-time and casual jobs. The other I have had to deal with since the fallout of the 2008 crash – when an adult child has lost their source of income, swallowing their pride and moving back in with a parent, scrambling to pay student loans, trying to maintain dignity working menial casual jobs while juggling job hunting for something sustainable.

  2. Very good advise.Wish I had this advise when i was going through financial issues.

  3. Thank you for this advise, and i love all your books, my family was 150k in debt in 2007, and after using your smart couples fiinish rich, automatic millionaire and start over, finish rich, we are debt free. Only debt we have left is our home mortgage and we pay 15 percent extra every month on that debt. Please advise us when you have your next seminar in NY.

  4. Although this sounds like good advice, and I have heard it before, often there are legal and/or financial considerations that make coming to a decision on how to handle these situations time-limited. In the cas of Jennifer’s mother-can she afford the maintaince of the house(insurance, taxes, higher utility bills, etc)’
    If there is an inherited IRA from annonspouse, there are several options, and the decision must be made within one year.

  5. David, thanks for the advice. My 20 yo son was murdered 8 days before his birthday just 6 months ago. Have some insurance $$$ that I need to figure out what to do with. In this economy, I am mortified. Want to do something that will honor him and benefit the family.

  6. Thank you, for your counsel. I certainly will share this information with my clients when necessary.

  7. Good advice, David. Wish I could have spoken with you 12 years ago when my husband died.. I lost money by not knowing what I was doing but you live and learn. At least I’m smarter today if not richer. Nell

  8. Good advice . this comes right handy as my sister inlaw’s husband just died.This waiting advice will sure help.

  9. I am going through and divorce this year, lots has changed financially, emotionally, personally, and also having to take care of my children and calm their fears, so a year has helped, but now it’s time to get the divorce completed and move on to a better financial future, what is the next step David?