Rubber Meets the Road

I began this journey anew because life circumstances sent me right back down the debt hole. This time, I’m sharing the wins, losses, struggles, and triumphs on the upward climb.

By year’s end 2023, I earned $109,000. I had a Roth IRA, a 401(k), and 5 figures in the bank. My net worth at the time was positive.

In January 2024, I traded in my perfectly great 2022 Camry for my dream car, a Lexus IS300. It was an impulse move, even though I’d wanted one for over 30 years.

In February 2024, I got fired. Holy shit, I have a Lexus!

After a few days of upset stomach and consideration, it occurred to me that my best bet was on myself. I had well over a decade of experience as a massage therapist, and organized ideas about opening my own full service spa and wellness center. There weren’t viable options to purchase a salon/spa at the time, so I opened a massage studio.

Going back to Robert Kiyosaki’s advice in his book Cash Flow Quadrant, I knew I wasn’t making the full transition from Employee Quadrant to Business Owner Quadrant, but maybe camping out in the Self-Employed Quadrant would be temporary. It would, at least, afford me the chance to find out if any of my ideas would work in the real business world.

Time was of the essence and I moved as quickly as Divine Providence would allow. Grand Opening Weekend was in April 2024, and a meaningful amount of people came to show support. By Thanksgiving though, my hip was giving me indication of trouble. 

At first, doctors thought it was bursitis. They were wrong. Anti-inflammatories and a steroid shot had zero effect.

In January 2025, it turned out that the hint of discomfort raged into agonizing pain. It was a rare tumor eating away at my femoral neck and destabilizing my hip. 

In February, I had surgery to remove the tumor and replace my hip. The scar is pretty scary. I feel like a badass for surviving the ordeal.

There was no way for me to do massage in that condition. Without income for about six months and pretty massive medical expenses, I relied on the rest of my savings, 401(k), Roth IRA, and the devil (a/k/a credit cards). 

Bada-bing. Back in debt with a negative net worth. Dammit!

Talk about down sizing. I liquidated my fledgling business for pennies on the dollar. I left Florida because even if I’d found work, the cost of living skyrocketed out of reach.

I have managed a way to stay current on my car payments. My dream car isn’t going to get repossessed on my watch. Ah hell no.

There I was again, looking up from the bottom of an even deeper debt hole than back in 1997. My comfort was in knowing that the numbers weren’t as important as the formula coupled with courage and consistency. 

I knew I could do it again.

When you’re in debt beyond what you can pay back, options include:

As you may have read in the flagship issue, I reached out to Consolidated Credit Solutions for their help. They negotiated with my creditors to restructure my debt and lower interest rates. One of them dropped down to 1.9%. Even though my credit score took a hit, it was more acceptable to me than a bankruptcy. I have zero spending access to those credit cards now, and the remaining open account dropped my limit from $7500 to $500. That stung, too, but it didn’t surprise me.

This is an austerity plan, but it does give me the certainty of fixed payments and a little breathing space.

📚 APRIL'S ESSENTIAL READ OF THE MONTH
A quick note on one book that changed my thinking...

This Month: Investing: The Last Liberal Art by Robert G. Hagstrom
In One Line: Hagstrom’s succinct wisdom drawn from various disciplines ranging from psychology, philosophy, physics, biology, sociology, and literature is astonishing. It’s also foundational for a modern investor.
Why It Fits: Anyone feeling that the education they’ve acquired thus far is somehow inadequate to reflect the world and its effects on their lives and investments. This book is not so much a missing link as connective glue.

Read my full take here: [Essential Read for May]