Dear David,
Two years ago I broke my arm, not the best thing for a hairdresser is it? I was out of work for six to eight weeks, so the Dr. said. I was feeling down but busy at the same time because I also have two kids, at the time my son was nine and my daughter was one. I was watching Oprah and saw you with the Automatic Millionaire, It was very uplifting. My husband was laid off from his job about a week prior to my cast coming off my arm. My husband remained calm even though I was not, it was the layoff that made me get upset. He had been with the Co. for 18 years when they sold to a Co. in Austin TX. A lot of people lost there jobs with the promise of severance that never came. To make things worse they let them all know the day they left they had no more health insurance either, they could sign up for cobra the next day. At $1500.00/month that was not going to happen. I went back to work early which was not easy and has caused me a few lingering problems and my husband had a job within the month. During this time we did as you said and we were living off of one income and continue to do so. Within a few months we bought an investment property with positive income we still continue to live off of. We made all our bills automatic and I created a few more to help us get through the year, I know it sounds nuts but it really isn’t. I opened many bank accounts, and the girl at the bank was very helpful by labeling all of them.
1. Christmas
2. Mortgage
3. Vacation
4. Cars
5. Investment
6. clothes
7. child 1
8. child 2
9. our savings
I take my pay check and divide it up in all these accounts and we do not even look at it until the statements come. For example, when Christmas comes it is already paid for and we even have a little left to start the next year. The Vacation one was great because my family of four went to Disney for a week in June as soon as school let out and it was fully paid for before we left. Now my husband and I are going to start to look for our second property in Ocean City, Md. Did I mention our other Investment property is already paid off by using equity in our own home keeping a fifteen year mortgage and our monthly payment only went up by about $90 per month and that was also doing a payoff on my husband’s car. We are on our way to being millionaires. I just bought your book “The Automatic Millionaire Homeowner”, you really inspire me and I would like to say thank you. I also want you to know I am going to teach my children to live this way then when they make it they will keep it.
Thank you for this gift
