At 60, Louise was close to retirement. A successful woman in the property development industry, she had an income of over $100,000 a year, after taxes, and had put aside a significant nest egg for her retirement. Her children had left the family home, and she was enjoying a recent renovation of her house. She loved to entertain and often met friends for trips to the spa or a day of shopping.
Despite the perfect exterior, Louise was worried about money. The reno had expanded in scope and had gone way over budget. Her fixed and discretionary expenses were quite high, and over a six-month period, Louise had spent $20,000 more than what she had brought in. At the rate everything was going she would use up her retirement savings by the age of 73 and be forced to sell her home that she had just lovingly redesigned. Tired of the stress, Louise turned to Avraham.
Focusing on what made her happy – her home – he worked with Louise to redirect her discretionary spending habits and began to challenge her fixed expenses. Bit by bit over the course of a few months, the tide began to turn: Louise’s retirement savings were being replenished, and there was no longer a negative monthly output of money. By the end of the yearlong training, Louise had saved over $31,000 and had stopped worrying about money. Now, with her spending habits and behaviors changed, she would be able to retire and keep her beautiful home.
“I now feel in control. I don’t worry. It’s not that I don’t spend anymore, I just redirected my spending on things that are really important to me…” – Louise, Toronto