Sad but true, two former Wall Street traders took their lives recently, in separate incidences, since they were under water on their mortgages, and facing financial ruin. At least to them, it was financial ruin.
The first guy found another job, after he lost his first, but he was only making $125,000 or so a year. Well, I can tell you, from a double income family that does NOT even bring in $100,000, you CAN live on less! But why wait until everything seems hopeless. Why didn't you give the house back to the bank, find a nice apartment to rent, tell your kids the truth as to why you're downsizing, and LIVE for them? Nope. Too much ego? Too macho? Too humiliating? Hey, there are a lot of us out here who would have envied your $125,000 salary, and would have thought you did the right thing by your family. Rather than taking the coward's way out and leaving them in a potential lurch.
The second guy, more recently, torched his house because he couldn't pay the mortgage. Which was in the range of $17,000 a MONTH! That's more than a lot of people LIVE on per YEAR! But although he was a Wall Street broker, he wasn't very bright in the ways of the world, and got caught as the arsonist. So after his trial, which he was found guilty, he decided to take the coward's way out. Again leaving his family in a lurch!
Obviously, both these individuals loved money more than their families, and if they couldn't have it all, then they didn't want to live. A very sad legacy to leave their children.
Living poor by some standards, and enjoying life...on Day 217!
The first guy found another job, after he lost his first, but he was only making $125,000 or so a year. Well, I can tell you, from a double income family that does NOT even bring in $100,000, you CAN live on less! But why wait until everything seems hopeless. Why didn't you give the house back to the bank, find a nice apartment to rent, tell your kids the truth as to why you're downsizing, and LIVE for them? Nope. Too much ego? Too macho? Too humiliating? Hey, there are a lot of us out here who would have envied your $125,000 salary, and would have thought you did the right thing by your family. Rather than taking the coward's way out and leaving them in a potential lurch.
The second guy, more recently, torched his house because he couldn't pay the mortgage. Which was in the range of $17,000 a MONTH! That's more than a lot of people LIVE on per YEAR! But although he was a Wall Street broker, he wasn't very bright in the ways of the world, and got caught as the arsonist. So after his trial, which he was found guilty, he decided to take the coward's way out. Again leaving his family in a lurch!
Obviously, both these individuals loved money more than their families, and if they couldn't have it all, then they didn't want to live. A very sad legacy to leave their children.
Living poor by some standards, and enjoying life...on Day 217!
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