Date Published: 5/21/2022
Susan was a very driven woman. She graduated college with a business degree and worked for a manufacturing company. Susan was a highly respected the staff and her boss Karen.
Susan was the sole provider. Just six months ago her husband Kirk became ill and had to be hospitalized. After four months in the hospital, Kirk was released. Unfortunately, Kirk had to take multiple drugs daily for the rest of his life. Kirk passed in 3 months. Within 90 days of Kirk passing, Susan received a medical bill for 75,000 dollars.
In just six months Susan went from having her life mapped out to becoming a single mom of 3 and an additional $56,000 in medical bills.
Karen encouraged her to update her resume and considering new employment. The pressure became too much and Susan. Like a tsunami, the tears began pouring down her face. All her boss could do was to console and give her tissue. After 30 minutes Susan was able to gather herself and go back to her desk. Eventually, Susan was able to find a new job.
One day Susan was sitting at the dinner table with her friend Pam. While Susan was talking about her new job, Pam asks her “What is your plan to get out of the rate race?” Susan replied, “What is the rat race?” Pam said, “It’s when you find yourself running in circles and never able to get free from your bills.” Susan told Pam that no one never talked to her about the rat race. Susan said, “I thought getting a degree was enough.”
Pam asked, “What is your plan to pay off your student loan?” With a blank look, Susan replied, “I never really thought about it before. I was under the thinking that making the minimum would be okay.”
Pam took out the calculator and added the principal and interest and told Susan it would take 25 years to pay off the student loan if she just made the minimum payment.
Susan was in complete shock with her eyes wide open and her mouth so wide open. After the passing of my husband, I never consider paying attention to the financial situation because he took care of all the business. For the next 2 hours, Pam shared with Susan about creating a second income stream to help pay off the bills much faster.
Although the story of Susan is fictional, we all are subject to unexpected events that could instantly alter our life. I hope you understand that tragedy happen without any warning. This tragedy could imprison us in the rate race. Do you have an idea and would like to learn how to convert it to second income source?
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