When I first read the entry for today’s HOME ECONOMICS, I knew immediately that I had to publish it. The woman featured here is so open about her financial experience even though she hasn’t had an easy time of things. But her story really speaks to the issues facing so many American women: the financial devastation of divorce, the cost of healthcare, the instability of the gig economy, and the retirement crisis facing millions. I am so grateful she shared her story, and I hope it can be a jumping off point for The Purse to cover some of these tougher topics. I’ll let her take it from here.
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About Me: About me: I got my first job when I was 14 years old, working as a carhop at a drive-in restaurant for $1/hour. After nearly 50 years of working, I am no closer to retirement than I was back then. I used to believe that financial security was simply the result of hard work and good choices. My understanding is more nuanced now. Yet my life is not without blessings. My mom, who is 89, in good health, and living independently, is my best friend. My two 20-something children are successfully “adulting.” I live near to dear family and friends, and my home is in the beautiful state of Colorado.
Age: 63
Location: A city on the Northern Front Range of Colorado
Relationship status: Divorced
All expenses are monthly unless otherwise noted.
Income:
Salary: I'm essentially a gig worker, so my annual income—as well as monthly pay—is volatile. My three-year average total income (for ’23, ’22, ’21) was $58,167; my three-year average adjusted gross income (AGI) was $32,724. I try my best not to fall below an average of $4,500 a month, but as a freelancer, that’s largely out of my control.
