More on Debt

Kelly, a client, divorced. The result was a significant drop in her income. Although this was years before our current global crisis, you can call this her domestic economic meltdown.

Before the breakup, her lifestyle matched that of her high-profile film producer-husband.

At the time when she filed for divorce, she didn't realize how much it would change her standard of living. As a result of the dip in income, she could no longer afford the extravagant lifestyle that accompanied her husband’s Hollywood job.

When she first shared the news with me, she sat in my office. I handed her a Kleenex to ease her emotional state.

“Kelly, I know it’s a tough time. But there’s a bright side,” I told her.

“Like what? My marriage has fallen apart, and so has my life,” she said.

“Remember you complained about the work it took to keep up the house?” I asked.

“Yeah. It was a pain dealing with the pool man, the gardeners, housekeepers.”

“I found some great townhomes. Now you won’t ever have to hire another gardener,” I said.

“Myra, you always look at the glass half-full, and I appreciate it,” she said.

I found Kelly a home that was significantly smaller than her current one. It was difficult for her to adjust, but once she did, she grew to enjoy her new place. Five years later, she contacted me again. This time, she had good news to share.

“Myra, I just got married,” she told me.

“Congratulations! Who’s the lucky man?” I asked.

“You’d think that I’d learned my lesson last time, but it’s another Hollywood exec,” she said.

We chatted about their relationship, and she then expressed gratitude for the support I provided her five years ago.

Kelly told me that she was prepared to buy another home. Her husband’s business manager lined up a broker already, but she insisted on calling me instead. As a result, I represented Kelly and her new husband in the purchase of a new home. It was even larger than the Holmby Hills estate where she lived with her first husband.

When things turned around for her, she remembered how I had helped her five years before—you never know how the kindness you extend to others will come through for you later.

Although the present economic crisis may seem like it’ll never come to a close, there is a rainbow at the end of this storm. This means that right now, you’ve got to work harder. And when things turn around, your intense focus will pay off. As they say, “What comes around, goes around.”

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