FOF Judy Resnick was 40 years old, “close to broke and with no way of making a living.” In her 50s, she’s turned her life around and became a financial advisor, helping other women, including her own daughter manage their lives and money. Read her inspiring story.
A recent photo of Judy and her grandchildren.
Sometimes the wife–who gets paid 70% of what her husband would have earned in that same job–can support her family.
If there are no resources, the family can get modest assistance from the government. Or the grandparents can step up, using money saved for retirement.
I’m that grandparent.
My younger daughter–married, with three school-aged children–has long had a debilitating, incapacitating disease. One night, while she was in the hospital, her husband walked out the door and into another woman’s apartment. What he left behind, in addition to his family: a car that was ready to be repossessed and a house on which he owed three months rent. Unsurprisingly, he lost his job and hasn’t worked again.
What would you do?
Exactly: I helped my daughter find great doctors and moved her and her brood–the kids, the dogs and the cat–in with me. Just to make it a real zoo, I added some chickens. And now, I’m the financial rock that holds these lives together.
My daughter’s experience has seared me and changed me. In the ’90s, I focused on helping women, but I was happy to invest for men as well. That’s still true, but now I’m obsessed with helping women who are undergoing a major life change–like me.
Perhaps it’s all because, I myself, went through major life changes. Like a lot of women of my generation, I was raised to be a wife and mother. That worked for me until I realized my husband was a jerk and I divorced him, until my father–who spoiled and indulged me–died and left us only gambling debts, until my mother and sister were killed in a plane crash. So there I was, 40 years old, close to broke, with two children, and no way of making a living.
Fortunately, I was a natural as a financial adviser and broker. And as soon as I’d solved my own money problems, I turned my attention to helping other women become financially independent. Invest? Isn’t that…gambling? Not compared to betting everything you’ve got on one man!
Today, I’m back raising kids at 70.
Of all my changes, this is the biggest: I didn’t expect to be raising kids at this age. But watching the kids flourish in their new life is a satisfaction without price.
Enter to win Judy’s book, I’m On My Own and So Are You by answering this question in the comments below: What is your biggest financial worry or regret?