|
| Tuesday, July 22, 2008 |
| LA Times Money Makeover: Marjorie Diehl |
 The LATimes Money Makeover: A Camarillo divorcee takes control of her finances profiles 58-year-old Marjorie Diehl, who needs advice now that she has divorced husband number 3.
A human resources manager for a uniform company in Burbank, Diehl makes close to $90,000 a year. She also picks up $6,600 a year renting out a room in her Camarillo house. Her only debt is the $92,000 mortgage balance on the three-bedroom home, valued at $400,000.
She has about $422,500 in savings and retirement accounts.
Those savings, however, will have to carry her well into old age. Diehl has longevity in her genes. Her 85-year-old mother still works as an extra in movies -- often as a grieving grandmother in funeral scenes -- and plays golf every weekend.
Diehl's vision of retirement isn't lavish. She dreams of hanging out with her three grown children, all living in Southern California.
A crossword puzzle whiz and self-professed game show diva, she said it would be fun to land an appearance on a television game show.
But most of all, she wants to know whether she'll be financially secure. It is a bit unclear to me if her "assets" include her home equity or if the Net Worth number excludes that amount. If she has managed to save over $400,000 PLUS has a hefty amount of equity in her home, then she is doing really well. But if her net worth is mostly from home equity, then yes, she does have a problem.Labels: Money Stories |
| posted by Boston Gal @ 9:42 AM *
* Subscribe to Boston Gal's Open Wallet |
Links to this post:
|
| 7 Comments: |
-
BG-- Thanks for your blog.
The article says she has 400k in liquid investments....
Nearly $219,000 of her money languishes in bank savings accounts that earn a paltry 3% in interest. An additional $204,000 in her 401(k) isn't optimally diversified. A little more than half is in big-company stocks, a quarter is in bonds and the rest is in a money market account.
-
i thought it was interesting that the planner said to move 61k for her 401k to an IRA to improve her investment options. can that be done with a 401k with your current employer (if you are unhappy with offered funds), or is that only if you're no longer employed by the company. she does look like she's in a good financial position, especially once daughter gets out of school and is on her own...
-
I don't get how she has $56,400 in annual expenses if she has an inexpensive mortgage and takes the metro to work. That was a little unclear.
-
You had me at divorce, but sealed the deal with 3rd. What the heck is she doing?
I just don't understand why people would torture themselves this way. Emotionally and financially 3 marriages and subsequent divorces are bad.
She is lucky to have so much on the end of this disasterous ride.
All I know is if something happens to my DH -there won't be a number 3. I will live alone in a nice condo and take care of me.
-
Anon 12:43, if you read down a little further, it says her expenses should go down once her divorce is complete. It's already cost her close to $50k over 4 years of separation.
Very interesting money makeover. She's one of those borderline cases where she could make or break her retirement with good decisions now, or one catastrophic illness medically retiring her early.
-
I prediect disaster.
3 Divorces? In Calif? You can be sure she got some nice free $$ from those. Is that where her nest egg comes from? I bet so.
-
11:50 unfair. You have no idea whether she was the prime earner or her husband(s). At $90k, I would say that there is a good chance she was. Community property rules can benefit either party to marriage.
|
| |
| << Home |
| |
|
|
|
|
BG-- Thanks for your blog.
The article says she has 400k in liquid investments....
Nearly $219,000 of her money languishes in bank savings accounts that earn a paltry 3% in interest. An additional $204,000 in her 401(k) isn't optimally diversified. A little more than half is in big-company stocks, a quarter is in bonds and the rest is in a money market account.