How does it feel to be POOR after being Wealthy?

‘Proven habits for financial freedom’ confirms that this can be terribly horrible. At 44, she had recently sold her very successful business and had millions in her bank account, a big house, children in private school and life was smooth. YES, smooth. She was focused on growing her other businesses when reality stroke. Business slowed and Government policies changed. She had stopped taking a salary and started loaning the company money. She was determined to work through this. She even spent her pension in a last attempt to turn things around. Fast forward, the company was broke, she was broke, and she could not pay her house loan and other bills. She gave up her house and shut down her business. Her children were moved to public schools.

A personal bankruptcy soon followed, and then a separation from her husband of 20 years. The stress was unbearable, and she contemplated suicide. The only thing that stopped her was that her father took his life when she was 26, and she knew first-hand the pain that her loved ones would bear for her actions. The worst part is the loss of self-confidence and depression.

What did I say? How about the loss of her “friends”. It is amazing how quickly friends disappear! She confirmed that two friends stuck by her. One in particular would check on her and take her out to ride to help take her mind off her reality. She moved into another friend’s rental property and started looking for work. Remember that not long ago, she owned her own companies. She had never been employed since college. She has been an Entrepreneur of the Year finalist.

In her new job, she would work as a receptionist and will now live alone.

What important lessons has this article taught you?

  • Money comes and go. Your capacity stays
  • Neither good times nor bad times last.
  • Most of the people who claim to be your friend are only there for the good times.
  • Business associates will also turn their back on you when the money stops.
  • Don’t ever stop taking care of yourself. Exercise is great for relieving the stress.
  • Face facts. Recognise when you have a losing hand and walk away.
  • If bankruptcy is inevitable, just do it. Don’t procrastinate and stick your head in the sand.
  • Do not EVER use your pension money on your business.
  • Use you to rebuild you. Never stop believing in yourself.

By Victorine Mbong Shu

Victorine is in education and training since 2002. She is the CEO of Profounder Intelligence Management Services, Publisher, Editor, Researcher, Transformational Speaker, Mentor, Material Developer, Facilitator, Assessor, Moderator and TV Talk Show Host at Children Television South Africa (CTVSA). She is the owner of Profound Conference Centre in Bramley-JHB. She and Dr. Fru are raising 4 bubbly children, including Africa’s youngest multiple award-winning author of chapter books, Stacey Fru. Victorine is a respectable Involved Parenting Conversationalist with a Master’s Degree in Communications. She is a BrandSA Ambassador and Awards Winning Author of the following books:

  • ‘Stop Complaining! and Bring Back Involved Parenting,’
  • ‘Trapped in our shadows,’
  • ‘Proven habits for financial freedom,’
  • ‘Not too late: Stop Complaining and Bring Back Involved Parenting.’

 

Comments

comments

Leave a Reply

Your email address will not be published. Required fields are marked *