53: She Did It! Real Divorce Stories with Monica Scudieri

<p class="p1"><span class="s1">Today, Stephanie and Kevin are joined by</span> Monica Scudieri, who successfully navigated her way through a financially difficult divorce into retirement. Fifteen years ago, Monica divorced, acquiring hundreds of thousands of dollars of debt, with two children to care for in a difficult job market. She quickly had to learn to manage her money, and to stretch her paychecks after a long period of not thinking about finances.<span class="Apple-converted-space"> </span></p> <p class="p2"> </p> <p class="p1">Monica soon came to understand that, to her, security meant not relying on a singular paycheck. Without consistent job security, she found adopting additional income provided her with the solace of knowing she could pay bills and provide for her family, even if her salary suddenly disappeared.<span class= "Apple-converted-space"> </span></p> <p class="p2"> </p> <p class="p1">She cites the FIRE movement (Financial Independence, Retire Early) as a turning point in her approach to money management. She talks about overcoming the shame and guilt of struggling to provide, which is especially prevalent among women. Retirement is not on the top of the minds of younger people in the workforce, and it’s important to consider what your needs <em>are</em> and <em>will be</em>. Identifying what you want and need is essential to engaging with your motivation. Monica shares the moment in which she felt faith in her journey, which marked a turning point in her financial wellness.<span class= "Apple-converted-space"> </span></p> <p class="p2"> </p> <p class="p1">Monica again emphasizes the value of secondary incomes, especially ones that are fulfilling to you. She herself has pursued real estate as a means of additional income, explaining that it’s something that is intellectually engaging for her, and fits within her lifestyle. She uses the pie as an analogy for building out streams of income: Everyone needs a primary source, or crust, that looks fairly similar across the board, but everyone’s fi