My suggestion for her is to sign up for senior housing immediately as it could take a couple of years. Also, I suggest she sign up with a temp agency. During COVID, I hired someone who was 75 years old (she told me her age right away). She is one of the best workers I have seen and has the best attitude. Blessings to her.
ASAP !!!!! That only thing that saved me and my kids was Section 8 Housing. It's pretty hard to live on $600 a month with two kids. Some states aren't even taking names anymore.
Totally. I don't understand why she doesn't temp. It seems obvious that doing that would help her immediately. I'm 65 and temp full time doing office work. The company where I was placed wanted to hire me after only a month! I'm planning to keep working for at least another five years. It's good money and it beats staying home worrying and feeling regretful.
@Husker. And your life is perfect and without regret? You NEVER know what will come in your future and at meadt she's humble admits her mistakes and is trying to help others by going public!
She could live with another woman or 2, who are in a similar situation. Joining together to help one another to rent a plc to live, share the bills and companionship. It will help mentally and financially.
The problem there comes when one of your roommates can't make their share of the rent and you all suffer. You've got to have a lot of confidence and trust in your roommates to be able to do that.
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
She is bankrupt. I applaud her for being honest and transparent with her situation. Can her boys help her? If she knows Excel and is organized perhaps she could be a virtual assistant or a part-time receptionist or an office manager. If she has a car, she could stay with elderly people of be a companion to elderly people in nursing homes. Families would love to have someone who would check on their loved ones to make sure that the nursing home patient is receiving proper care and someone to sit with them.
Yes, this is a great suggestion. Big shortage of caregivers. I am planning to do the same when retire. Coming in USA after 40 yo from socialism with zero knowledge about managing finance (costly life lessons), raising kids, helping relatives aboard.. not much left to build financial cushion. At least, feels good knowing my condo will be paid off by 65.
I 100% agree with the comment regarding becoming an elderly companion. Most skilled nursing facilities or rehabilitation facilities are always looking for people to sit with elders in the hospital or nursing homes. zmy elderly sister did it for a couple years at her local hospital. I know in Seattle downtown there are at least 3 large hospitals. Plus a VA close by. Good idea! And it doesn't require standing or hands on.
Thank you for treating her with respect and kindness while telling her the truth. I am almost in the same boat except I am 49 and I can take on the advices given here. Blessings to Katherine and to all 🙌
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
There is such a lack of compassion in the world and it’s so easy to judge. I love how you let this woman tell her story and listened with compassion. When people have the courage to admit their mistakes, the deserve a compassionate listener ❤
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
@@itsRomainFaure Yes valid but I do think she should stay living where she is at. If she is an au pair for an elderly person and she lives there rent free, what happens when that elderly person passes away ? She would have to find another au pair job and the cycle could continuously repeat itself with no real stable place to live. The alternative could be doing those types of jobs without living there. I wish you the best Catherine !! Note: Catherine could get coaching clients from the exposure she gets from this video. If she has a website or an email that people could contact her at, it could be put in the description of this video. Maybe exposure is what she is needing for her to get her coaching business off and running.
I salute you, Romain, for your compassion and courageous frankness. And Catherine for facing up and making the necessary changes. When i was a little girl in the 1960s i went with my campfire group to sing Christmas carols at a small care facility for elderly women. There was a woman terribly crippled with arthritis in a wheel chair. At night they rolled her chair into a small closet. I never forgot her. Ive made lots of financial missteps in my 67 years, but i owe my retirement security to that woman. It terrified me into preparing for my elder years.
I love how compassionate Romain is and how that attracts viewers who are also the same. I was pleasantly surprised to read such respectful, encouraging, and empathetic comments.
I think you misspoke. Her income currently is $ 21,600. I'm actually surprised she is drawing that much in SS benefit, given what appears to have been a spotty work record. I'm five years younger and understand that life can throw curve balls. I wish this woman well. Thanks for focusing on some older folks.
It's possible her SS benefit is based off of one of her former spouse's work records. In other words, it's possible she is receiving either spousal or survivor benefits.
@@DoctorSmartyPants I believe you have to have been married for 10 years to collect a spousal benefit and I never heard her say she was ever married to either man. Certainly not for 10 years. I agree the $1800 seems high and their was no mention of medical insurance. Maybe I missed it.
Just happened to stumble upon your channel Romain. Great job! Catherine, you are not alone and there are so many people in your age that are in the same or worse situation. You are so courageous to share so much of your life to teach everyone else.
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
Catherine and Romain, you are both amazing! Romain for his analysis and effective solutions and advice; Catherine for her resilience and more importantly for managing to improve her situation!! Bravo 👍👏👏
Poor lady. I would have been in her position had I not met my wife 27 years ago. She's real smart and put us on a good, but not fun, path. Money discipline is tough if you're like me or this nice lady.
I love that we got tp see her update at the end. She seems like such a sweet lady and I am so glad she found inspiration and direction from this. I am wishing you well Catherine!! ❤❤
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
Some choices we make have profound impact on our lives: education, partners, employment, finances, family, the friends we have. Credit card debt on social security - horrific. A brave woman doing this interview, unknown what the future holds for her but others can learn and benefit from this.
At 67, I'm truly surprised she mentioned needing education about how credit cards worked. I learned this on my own as a late teen. (My parents taught me not to rely on or even use credit cards and never knew I had applied for any.) It seems to me this lady may have been scammed out of her money but doesn't admit such. This is the immediate feeling I get when she explained her financial situation. I hope she gets back on her feet.
Congratulations on your new job and mindset!!! 🥳🤩🎉🥂You look empowered. Wishing you much abundance in every way.Thank you for sharing your journey and helping so many!!!❤
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
I hope more retirement plans at work will be "opt-out" instead of "opt-in", especially for people starting out but don't yet have the best financial education. Even minimum wage workers should be contributing to a Roth IRA, even if it's just $10/week! Something is always better than nothing. Catherine has a great story and a great outlook. Wishing her the best ❤
God bless her. She did a big thing to help others by sharing her story! She helped me! I had my son at age 20 and a single mom. Went back to school. Very parallel. I have no savings! Trying to but always slips through my fingers. Need a permanent solution! This was good! Thank you.
Thank you for sharing your story! I would love for us to chat more, in case you need help we have a show called Finance Hotline ! You can reach me out at romainfaurechannel@gmail.com
As an Australian, the retirement system in the US is so strange. We have Superannuation, which is mandatory for employers to pay into and we can't access that money until we reach retirement age. Even when I worked as a casual in retail as a teenager, my employer automatically had to start my super account and pay 11% of what I was earning (on top of my wage). Now I work somewhere that does 15.4%. Edited to add: I am so glad to hear her update 😊
The usa system has both the employee and employer paying for the employees retirement. It started in 1937. The system has 4 quarters a year..you have to have worked 40 quarters to get in the system to get any retirement. This involves legitimate income where on is NOT on the fringe and workering for cash to evade taxes. So if you worked 4 quarters in 2010 at Walmart here you have 4 quarters in the social security system. If in 2010 one worked for cash and had zero income connected to being reported via a w2 form or tagged to your ss number. ; you have zero quarters in the ss system for 2010. So folks who evade taxes can be at retirement age and have no social security retirement. Since they never actually put any money in the ss system. 😊
I've been watching Caleb hammer for the past year plus, which is how I found you recently. I think you're both great, and both compassionate in the same way, just using different approaches to reach people. I very much enjoy the way you are consistent with all your guests (at least the 7 or so I've seen so far). I personally know most of the financial stuff either of you talk about already (it's common sense, honestly, but that's lacking in our culture), I have practiced it for years before either of you two ever came on my radar, so it's just for entertainment value for me for the most part. But your gentle, non judgmental approach is very refreshing and your quality of guests (from what I've seen) are more practical. There's plenty of room in this financial education space to teach people, what should be basic. So keep it up! there's an obvious need.
Thank you! I am going, when the opportunity arise, to try and push further on more advances finance strategies ... I just need the right guest to bring it up in the most relevant way :)
This lady is wild blaming her decisions on her parents who grew up in the Great Depression probably scrounging to survive. She has a lot of bad ideas. The tiny house is for people who can come up with at least $40k in cash and then you have to pay lot rent. The $400 rent is a steal! Take it! Coaching is an industry that preys on vulnerable people. Most of theses coaches become wealthy not by living their own advice but hy taking advantage of other people. Ask me how I know! Starting a business is not easy and a lot of coaches will make you think that it is! She cannot afford to retire! She needs to work for another 10 years at least and put money in retirement every month. She can also look into getting food stamps and going to discount grocers because Trader Joe’s is not cheap! Most of the food there is absolute junk and they don’t really have good fresh food! Go to Aldi’s. It’s the same as TJ’s but at least a dollar or two cheaper.
She might do well working in a women’s domestic abuse shelter as a counselor or working on a suicide or domestic abuse hotline. I’ve seen many job postings where a degree is not required just someone who is empathetic and a good listener.
I'm 40 this year, married with two kids and I'm concerned about retirement. I'm currently looking for my first full-time job since having kids to get on top of things. This is what scares me. I used to know a 60s plus homeless woman and it was an eye opener. I also lived in share houses/boarding houses in my youth and had elderly house mates and it showed me what could happen.
She is completely right about schools not teaching how to do taxes and banking, how saving and credit cards work etc. Not only in the USA, but also in Europe
1. File for bankruptcy and move on from CC debt. 2. Get a job 3. Stop shopping at Trader Joe’s (think Aldi) 4. Stay cool with your landlord because rent is like a mortgage these days
@@Jan-bella Lol, you guys have like 4 grocery outlets, a plethora of standard grocery stores, Walmart, and a Costo. If you try setting foot in one, you might notice there's a price difference.
Trader Joe’s is t the problem. Trying to be a coach and shopping at Nordstroms is the problem. I make way more than her and don’t shop at Nordstroms. Plus their is Nordstrom Rack
100% You nailed it!!!! Her credit is already toast. Make life as easy as possible . Get emergency fund, work 2 or 3 days a week and cut up them God awful credit cards.
I had two root canals this year. Getting crown next month. Stay on track. You are a new person asny you pay things are off quickly. Keep repeati it. So you beleave it
I think this is her best example to other women of how to "empower" yourself. She's very brave to do this because she has asked for help and she has to be transparent and come to terms with her actions. I'm hoping she will get many clients from this exposure. I'm 65 and I have to admit that when it comes to my work pension I understood nothing about it until the age of around 57 or 58. And most of my coworkers didn't understand either. The calculations were so confusing. One of the most important things that I learned regarding finances and investing was to always factor in "taxes" and "fees". Figure out your tax bracket and how you are impacted by this, also when you invest especially in mutual funds, understand the impact of "fees" on your investments. Last, get out of debt!
My mandated C0vid jab injuries caused me to lose my job, and I had to use all my savings while out on FMLA from my injuries and Bank of America took all my savings I made after I started back to work. Now what. I am almost 66.
HEY, YOU YOUNGSTERS!!!! Watch this one, pay attention, and take note. Please do not come to ridicule, but be grateful and listen for the lesson to be learned. Life truly is short. ❤
People who want your results will take your coaching advice, lol. 'As empowered woman who don't-need-no-man, I was a young single mom with 2 abusive baby daddys, while refusing to work and being an aging 'student'. I then spent a lifetime being totally incompetent with money, and squandered all my assets, blaming a recession that didn't happen yet. Now I proceed to to shop at Trader Joe's and I just maxed out my Nordstroms card while being borderline homeless, and I also fell for some type of scam recently. Let me coach women on being empowered" FFS. She's absolutely delusional. She feels entitled to either not work at all, or only work cushy, part time, jobs that she isn't even qualified to do. 'i can edit a resume'..... lol, so can everyone else! Walmart greeter is literally what you're qualified for, lady. Damn.
Networking you're way around foodbanks. That statement shows that the American dream really has become the American nightmare. Beg your way around foodbanks. How tragic.
We are so lucky in Canada that govt give money to children below 18. Life is hard but with the govt child tax support, it helps a lot for raising kids. Canada also has this OLD AGE SECURITY (OAS) $500 guaranteed money for seniors 65 and above
Uber, Uber eats, Lyft, DoorDash, retail…now I know why I’m seeing so many older folks working these jobs 😢 The life coach bit was ironic, I almost spit my water out when she said that.
I’m learning the hard way. I’m 55, single mom of 2 teens, however, I have no debt except for my mortgage. My house has more than doubled in value, I have an emergency fund. But I can’t seem to invest or contribute to my IRA. I’m basically screwed.
My heart goes out to her. I worry about the younger generation who can barely keep up with current cost of living, let alone put money away for retirement. I’d look into Velocity Banking in addition to all your suggestions.
Anyone can open up a Roth IRA account. Even putting $50 a month is much better than nothing. It’s not difficult on an average income to be set for life.
Thank you, Catherine. Have you thought about contacting Homes for Abused Women for jobs. With your background I think you could make positive changes in your life and others. Teaching others to speak English is wonderful.
Pay yourself first A portion of all money you take in is yours yours to keep yours alone yours forever. Never stop working Never stop saving Never stop investing. The road never ends. ❤❤❤❤❤❤❤❤
I feel for her! I am 53 had a lot of money in my life and now i am starting all over again! I make only 22,800 a year! Never had a job making over 30,000! But now I am investing in stocks for my later years and also I have no debt at all! And I live in nyc all my life! But I still have my Health so that’s a blessing! I know I will make more money
In a situation like this, outflow cannot be higher than inflow. Romain is correct to ask her to leverage on resources externally to help her to cut down on her spending and finding new sources of income. I wish her all the best
My husband would have wound up just like this lady if he hadn’t let me take over all our finances when we got together. I’m neither bragging, nor ragging on him - just saying that his near-complete lack of financial understanding and planning would have eventually led to ruin. He was (and is) frugal, and he’s always been a hard worker, but he was barely keeping his head above water while paying his mortgage and working at low-wage jobs. We eventually got the situation under control, and both of us are now comfortably retired together.
At present, the most prudent consideration for everyone should be diversifying their income sources, ones not reliant on government support, particularly given the ongoing global economic challenges. This remains an opportune moment to explore investments in assets like digital currencies such as Bitcoin, Ethereum, and XRP, thanks to Flora Elkin for her guidance in these fields her proficiency is outstanding
It is really refreshing to see a comment about Flora Elkin.I have worked with her also for months now, reached out after reading more about her on the internet. she simplifies matters, whether it's a market surge or drop; her approach consistently keeps you ahead of the trend, She's a guru i'll say
Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Flora's insights. It's akin to finding a diamond in a coal mine.
Crypto role as a store of value and its potential for future growth make it an attractive investment option. trading can be a thrilling way to participate in this digital asset's journey.
I have a friend who earns $350 - $400 a month doing market research. Clinical trials pay more for anyone who has certain medical conditions such as arthritis or bad knees, memory problems, or mental illnesses. Mock jury trials pay around $400 to see how real jurors might react in a legal case.
I'm 66 and plan to keep on working. I'm an Application Developer so I just need to be able to see, think and type. I have been doing my work from home for years now. The new disturbing trend is to do away with remote jobs and just have office or hybrid jobs. There is a growing older work force and I hope that companies realize the resources they have in part time or remote jobs. It can save a life or two or many.
@@castlequay2327 That's a shame. I shared a house in Nevada US with a nurse. She talked a lot about contracts and negotiating. Guess I had a little idea in my first job supporting 7 hospitals in NYC. Most of the work was Union agreements and the Nurses had major input to administrative decisions. When I worked for Health Care Management clients I discovered there was many previous Nurses involved in claim processing. What do you think is the problem behind them not wanting to work with 60+ people?
@@castlequay2327 Sad. That is outdated thinking. In my early 60s out hiking lead by a 70+ hiker taking us up switchbacks to get to the perfect view. Much panting for me I recall. Its a different world now where 60+ people are active. Saw and older couple hopping up rocks once in Red Rock NV as we were taking our snack break at the half way point.
I don't understand how people can be so irresponsible. My mom taught me from an early age the importance of budgeting and saving. I started saving for retirement with my first job out of college. With that I was able to retire at 52. Funny how he is apologizing for telling her the things she needs to do.
As a French individual, and also in the US I do old a lot of respect to age. And it is not easy for me to tell someone at 67 years old to go back to the workplace … however I believe that this approach really worked out well with Catherine as you can see in the follow up at the end :)
I feel so bad for this woman. She has chased external validation her whole life. She has also lived in La La land for a long time. How can she say she has a coaching business? She actually has a DREAM to run a coaching business, probably because she thinks it will bring her admiration.
Off the top of my head - online customer service, child care and pet sitting. She needs to look for jobs that are actually in demand. Coaching and editing are few and far between. The only people making money from coaching are those selling the courses.
I'm glad I will have a teacher pension in California. I really don't know how I would have made it unless I had gone back to school. I really feel like we need to go back to a pension type system or a hybrid pension/ 403B/ 401K type thing
A thing to remember is that in her (and my) generation, you never heard about retirement. If you were lucky, you had parents or other adults who taught you about it. There was no internet and there were no TV ads about it. You can only know what you see modelled or learn about. Does she get around $2500 - $2600 per month in Social Security? What about SNAP and Medicaid? (I don't remember health care costs being brought up. Does she have to pay Part B?)
@@minoozolala I guess we had different experiences. Part of the point I was trying to make was that there wasn't much public information (TV, internet) compared to today. Without that, we're dependent on people teaching us about it. If it's okay to ask, how old are you?
Single mom from two different donors in her 20s... Lived the single life dream... Woman's empowerment coach...with no clients Wanted to "skip some steps" in her working life... And this is how it ends
1. Choosing right partner is one of the most important financial decision. I made the same mistake. 2. When you are young, work 2 jobs 3. Focus on yourself and kids only. Do not get distracted by boyfriend/girlfriend - the least reliable in your life. 4. Never waste 1 second of your life
How on earth can someone in that situation consider herself empowered enough to be a Women's Empowerment Coach? You can't teach what you aren't able to put into practice yourself. Financial wellbeing is one of the biggest aspects of living as an empowered person.
Agreed. It’s not easy to be so vulnerable and share these details. A lot of shame connected to our financial decisions for many of us. But deeply appreciate her sharing as it’s in service in helping younger folks to wake up and pay attention to all the financial things 🙏
Exactly, he said 67 is tough for working but ppl retire aft that age. My dad sold his business and went back to work at 75 to add to good savings :) He is now independently living alone, driving + a Minister who, doesn’t take money for Ministering… + tho ppl think he is 70… he is at 91 in 5 mos :) Romain s/b applauded for this work. My dad is smart but smart Romain has helped ME, who’s close to her age ☺️
It’s always good to talk things through and to receive the help and support you need to help motivate and guide you to improving your finances . I recommend watching Dave Ramsey as well as Romain
My suggestion for her is to sign up for senior housing immediately as it could take a couple of years. Also, I suggest she sign up with a temp agency. During COVID, I hired someone who was 75 years old (she told me her age right away). She is one of the best workers I have seen and has the best attitude. Blessings to her.
Nice, I will let her know of this option! Thank you
ASAP !!!!! That only thing that saved me and my kids was Section 8 Housing. It's pretty hard to live on $600 a month with two kids. Some states aren't even taking names anymore.
And there's always a need for caretakers
sign up yourself.
Totally. I don't understand why she doesn't temp. It seems obvious that doing that would help her immediately. I'm 65 and temp full time doing office work. The company where I was placed wanted to hire me after only a month! I'm planning to keep working for at least another five years. It's good money and it beats staying home worrying and feeling regretful.
Subbed because you treated her with compassion and without shame.
Thank you for the kind comment 👍
Same!
New subbie here😊
@Husker. And your life is perfect and without regret? You NEVER know what will come in your future and at meadt she's humble admits her mistakes and is trying to help others by going public!
@@Husker3579-tz4nw That's rather harsh, don't you think?
@@Husker3579-tz4nwYou lack empathy. You may want to look into ways to become a more mature person.
She could live with another woman or 2, who are in a similar situation. Joining together to help one another to rent a plc to live, share the bills and companionship. It will help mentally and financially.
She is already living a co-location with her friend, that is pretty much the only way that she pays less than $500 rent in Seattle..
Like the Golden Girls.
The problem there comes when one of your roommates can't make their share of the rent and you all suffer. You've got to have a lot of confidence and trust in your roommates to be able to do that.
That's really hard when you are older.
I think she's got about as cheap rent at anyone could find in Seattle. Average room in a house about 1K around here.
A lot of retired people lost everything in 2008. Just because you save doesn't mean you are prepared. Wishing blessings for her!
My father was one of them!
@@itsRomainFaurein the USA? or in France ?
Exactly!
@@LuchSveta1 in the US …
Catherine with all my heart and soul Im wishing you the very best! God Bless You!❤❤❤
Thank you for the very kind words!
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
She is bankrupt. I applaud her for being honest and transparent with her situation. Can her boys help her? If she knows Excel and is organized perhaps she could be a virtual assistant or a part-time receptionist or an office manager. If she has a car, she could stay with elderly people of be a companion to elderly people in nursing homes. Families would love to have someone who would check on their loved ones to make sure that the nursing home patient is receiving proper care and someone to sit with them.
I will share those ideas with her - unfortunately she doesn’t have the best relationship with her kids :(
Yes, this is a great suggestion. Big shortage of caregivers. I am planning to do the same when retire. Coming in USA after 40 yo from socialism with zero knowledge about managing finance (costly life lessons), raising kids, helping relatives aboard.. not much left to build financial cushion. At least, feels good knowing my condo will be paid off by 65.
I 100% agree with the comment regarding becoming an elderly companion. Most skilled nursing facilities or rehabilitation facilities are always looking for people to sit with elders in the hospital or nursing homes. zmy elderly sister did it for a couple years at her local hospital. I know in Seattle downtown there are at least 3 large hospitals. Plus a VA close by. Good idea! And it doesn't require standing or hands on.
Is she bankrupt if she has Social Security coming in?
@@marianrosin6486you can’t even eat and pay rent in social security.
Thank you for treating her with respect and kindness while telling her the truth. I am almost in the same boat except I am 49 and I can take on the advices given here. Blessings to Katherine and to all 🙌
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
Brave woman coming on and making the millions of people who are in exactly the same position not feel so alone. Bless you. X
I hope you have to chance to come check out her update video this coming Thursday :)
There is such a lack of compassion in the world and it’s so easy to judge. I love how you let this woman tell her story and listened with compassion. When people have the courage to admit their mistakes, the deserve a compassionate listener ❤
Thank you very much!
You are amazing Catherine! You have guts! All the Best.
Thank you for the positive throughts!
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
She should be an au pair for the elderly with minimal needs. Help them with their food and meds and get paid while living rent free.
Valid recommendation - I will let her know 👍
@@itsRomainFaure Yes valid but I do think she should stay living where she is at. If she is an au pair for an elderly person and she lives there rent free, what happens when that elderly person passes away ? She would have to find another au pair job and the cycle could continuously repeat itself with no real stable place to live. The alternative could be doing those types of jobs without living there. I wish you the best Catherine !!
Note: Catherine could get coaching clients from the exposure she gets from this video. If she has a website or an email that people could contact her at, it could be put in the description of this video. Maybe exposure is what she is needing for her to get her coaching business off and running.
Yes!!!!
@@itsRomainFaureplease don't forget to tell her ❤
@@Tammi333 Yes, but she could be stashing that housing $ into emergency fund, retirement funds bigtime. At this stage time is working against her.
I salute you, Romain, for your compassion and courageous frankness. And Catherine for facing up and making the necessary changes. When i was a little girl in the 1960s i went with my campfire group to sing Christmas carols at a small care facility for elderly women. There was a woman terribly crippled with arthritis in a wheel chair. At night they rolled her chair into a small closet. I never forgot her. Ive made lots of financial missteps in my 67 years, but i owe my retirement security to that woman. It terrified me into preparing for my elder years.
Wow I’m out of words !
Fear is a great motivator !!!!
I love how compassionate Romain is and how that attracts viewers who are also the same. I was pleasantly surprised to read such respectful, encouraging, and empathetic comments.
@@ReemTahir lovely ! And I encourage you to check out her update video too :)
@@itsRomainFaure Say no more! *watching*
Great job Romain. You were respectful and caring to your guest.
Thank you Catherine for coming on the show and being vulnerable so others can learn.
I encourage you to check out her update video as well :)
I subscribed because you handled her wih so much kindness. Thank you.
Thank you - and welcome on board 😊
Sending good wishes. She is to be commended for using her story to help others.
I am so happy that she found this job. I know there was a lot of bad decisions but people need a second chance and she is having it now.
Spot on !
I think you misspoke. Her income currently is $ 21,600. I'm actually surprised she is drawing that much in SS benefit, given what appears to have been a spotty work record. I'm five years younger and understand that life can throw curve balls. I wish this woman well. Thanks for focusing on some older folks.
I am too. That's pretty good for the work she has done.
It's possible her SS benefit is based off of one of her former spouse's work records. In other words, it's possible she is receiving either spousal or survivor benefits.
@@DoctorSmartyPants I believe you have to have been married for 10 years to collect a spousal benefit and I never heard her say she was ever married to either man. Certainly not for 10 years. I agree the $1800 seems high and their was no mention of medical insurance. Maybe I missed it.
Just happened to stumble upon your channel Romain. Great job! Catherine, you are not alone and there are so many people in your age that are in the same or worse situation. You are so courageous to share so much of your life to teach everyone else.
Thank you! And Welcome on-board :)
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
Very brave of her to share her story. She will help many people and your compassion is admirable.
Yes she was very courageous :)
Catherine and Romain, you are both amazing! Romain for his analysis and effective solutions and advice; Catherine for her resilience and more importantly for managing to improve her situation!! Bravo 👍👏👏
We just released Catherine's 4-Month Update Video ! Let me know your thoughts👍
You being compassionate made me a new subscriber! ☺️
@@melry5460 welcome on board :)
Poor lady. I would have been in her position had I not met my wife 27 years ago. She's real smart and put us on a good, but not fun, path. Money discipline is tough if you're like me or this nice lady.
Great for you that your life took a turn to the positive decades ago!
I think a lot of people are heading towards this lady's outcome in the near future
Let’s hope not 🤞
I love that we got tp see her update at the end. She seems like such a sweet lady and I am so glad she found inspiration and direction from this. I am wishing you well Catherine!! ❤❤
Thank you for the positive thoughts :)
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
Thank you for being helpful and kind.
Thank you for this kind comment :)
Some choices we make have profound impact on our lives: education, partners, employment, finances, family, the friends we have. Credit card debt on social security - horrific. A brave woman doing this interview, unknown what the future holds for her but others can learn and benefit from this.
Fair play to you both, life can be tough. Good Luck for the future.
Romain gave a lot of great advice but in a kind way
I encourage you to check out her update video! We have a new one coming Thursday too!
Wow. I am very grateful for this channel.❤The needs vs wants teaches alot about what matters most to us ,not deprivation.
I encourage you to check out her update video as well :)
At 67, I'm truly surprised she mentioned needing education about how credit cards worked. I learned this on my own as a late teen. (My parents taught me not to rely on or even use credit cards and never knew I had applied for any.) It seems to me this lady may have been scammed out of her money but doesn't admit such. This is the immediate feeling I get when she explained her financial situation. I hope she gets back on her feet.
Hello Maria, I encourage you to check out her update video that we recently released :)
Congratulations on your new job and mindset!!! 🥳🤩🎉🥂You look empowered. Wishing you much abundance in every way.Thank you for sharing your journey and helping so many!!!❤
Thank you so much for sharing positive throughts!
CATHERINE is BACK! We have a 4-month update video coming tomorrow at 8:00 am PST I look forward to reading your thoughts! Thanks again for your support😄
She is in my prayers.
I hope more retirement plans at work will be "opt-out" instead of "opt-in", especially for people starting out but don't yet have the best financial education. Even minimum wage workers should be contributing to a Roth IRA, even if it's just $10/week! Something is always better than nothing.
Catherine has a great story and a great outlook. Wishing her the best ❤
God bless her. She did a big thing to help others by sharing her story! She helped me!
I had my son at age 20 and a single mom. Went back to school. Very parallel. I have no savings! Trying to but always slips through my fingers. Need a permanent solution! This was good! Thank you.
Thank you for sharing your story! I would love for us to chat more, in case you need help we have a show called Finance Hotline ! You can reach me out at romainfaurechannel@gmail.com
We also have a up and coming recording studio in Las Vegas
Thank you for sharing your story, it will give people hope, thst its never to late. Thank God for your health and every blessing you have.
Thank you for sharing positive thoughts!
As an Australian, the retirement system in the US is so strange. We have Superannuation, which is mandatory for employers to pay into and we can't access that money until we reach retirement age. Even when I worked as a casual in retail as a teenager, my employer automatically had to start my super account and pay 11% of what I was earning (on top of my wage). Now I work somewhere that does 15.4%.
Edited to add: I am so glad to hear her update 😊
Social security in the US is 12.4% of every paycheck so very similar
The usa system has both the employee and employer paying for the employees retirement. It started in 1937.
The system has 4 quarters a year..you have to have worked 40 quarters to get in the system to get any retirement. This involves legitimate income where on is NOT on the fringe and workering for cash to evade taxes.
So if you worked 4 quarters in 2010 at Walmart here you have 4 quarters in the social security system.
If in 2010 one worked for cash and had zero income connected to being reported via a w2 form or tagged to your ss number. ; you have zero quarters in the ss system for 2010.
So folks who evade taxes can be at retirement age and have no social security retirement. Since they never actually put any money in the ss system.
😊
I've been watching Caleb hammer for the past year plus, which is how I found you recently. I think you're both great, and both compassionate in the same way, just using different approaches to reach people. I very much enjoy the way you are consistent with all your guests (at least the 7 or so I've seen so far). I personally know most of the financial stuff either of you talk about already (it's common sense, honestly, but that's lacking in our culture), I have practiced it for years before either of you two ever came on my radar, so it's just for entertainment value for me for the most part. But your gentle, non judgmental approach is very refreshing and your quality of guests (from what I've seen) are more practical. There's plenty of room in this financial education space to teach people, what should be basic. So keep it up! there's an obvious need.
Thank you! I am going, when the opportunity arise, to try and push further on more advances finance strategies ... I just need the right guest to bring it up in the most relevant way :)
This lady is wild blaming her decisions on her parents who grew up in the Great Depression probably scrounging to survive.
She has a lot of bad ideas. The tiny house is for people who can come up with at least $40k in cash and then you have to pay lot rent. The $400 rent is a steal! Take it!
Coaching is an industry that preys on vulnerable people. Most of theses coaches become wealthy not by living their own advice but hy taking advantage of other people. Ask me how I know!
Starting a business is not easy and a lot of coaches will make you think that it is! She cannot afford to retire! She needs to work for another 10 years at least and put money in retirement every month.
She can also look into getting food stamps and going to discount grocers because Trader Joe’s is not cheap! Most of the food there is absolute junk and they don’t really have good fresh food! Go to Aldi’s. It’s the same as TJ’s but at least a dollar or two cheaper.
Great well written analysis.
Grocery Outlet is a great place to shop. You can save a ton!
@@TLA123y6f I love it !
She might do well working in a women’s domestic abuse shelter as a counselor or working on a suicide or domestic abuse hotline. I’ve seen many job postings where a degree is not required just someone who is empathetic and a good listener.
Thank you for sharing !
My heart goes out to her. Like the saying goes, “ Your life is your fault”.
I truly hopes she gets through this time. I can feel her sadness.
I hope you have the chance to check out her update video that we just released*
I'm 40 this year, married with two kids and I'm concerned about retirement. I'm currently looking for my first full-time job since having kids to get on top of things. This is what scares me. I used to know a 60s plus homeless woman and it was an eye opener. I also lived in share houses/boarding houses in my youth and had elderly house mates and it showed me what could happen.
Good luck !!! You got this :)
I haven't even started watching yet and already I think she is SOOO courage to go on screen... I have a hunge I can learn from this!
What did you think at the end ? :)
That’s awesome Catherine, I wish you the best.
This is a slap of reality for me
Will you take action ? :)
She is completely right about schools not teaching how to do taxes and banking, how saving and credit cards work etc. Not only in the USA, but also in Europe
It’s drastically lacking in the education system …
1. File for bankruptcy and move on from CC debt.
2. Get a job
3. Stop shopping at Trader Joe’s (think Aldi)
4. Stay cool with your landlord because rent is like a mortgage these days
@@Jan-bella Lol, you guys have like 4 grocery outlets, a plethora of standard grocery stores, Walmart, and a Costo. If you try setting foot in one, you might notice there's a price difference.
@@Jan-bella And you keep shopping at Trader Joe's under the delusion it's cheap, lol
Trader Joe’s is t the problem. Trying to be a coach and shopping at Nordstroms is the problem. I make way more than her and don’t shop at Nordstroms. Plus their is Nordstrom Rack
100% You nailed it!!!! Her credit is already toast. Make life as easy as possible . Get emergency fund, work 2 or 3 days a week and cut up them God awful credit cards.
Bankruptcy lawyers cost as much as $3000. Not everyone has that kind of money just lying around.
I had two root canals this year. Getting crown next month. Stay on track. You are a new person asny you pay things are off quickly. Keep repeati it. So you beleave it
This episode is truly a eye opening story. Never say never.
Never say never ...
I think this is her best example to other women of how to "empower" yourself. She's very brave to do this because she has asked for help and she has to be transparent and come to terms with her actions. I'm hoping she will get many clients from this exposure. I'm 65 and I have to admit that when it comes to my work pension I understood nothing about it until the age of around 57 or 58. And most of my coworkers didn't understand either. The calculations were so confusing. One of the most important things that I learned regarding finances and investing was to always factor in "taxes" and "fees". Figure out your tax bracket and how you are impacted by this, also when you invest especially in mutual funds, understand the impact of "fees" on your investments. Last, get out of debt!
I like this channel. I’m 36 now but if was 70 today I would be in her shoes right now.
You got this ! 36 ! You still have all your life in front of you
She needs to get a part time job.
You mean full time.
She really does.
My mandated C0vid jab injuries caused me to lose my job, and I had to use all my savings while out on FMLA from my injuries and Bank of America took all my savings I made after I started back to work. Now what. I am almost 66.
So what happened before Covid sweetie 🙄🥱seriously don’t use Covid as an excuse.
HEY, YOU YOUNGSTERS!!!!
Watch this one, pay attention, and take note. Please do not come to ridicule, but be grateful and listen for the lesson to be learned. Life truly is short. ❤
I say she is brave to come onto this podcast and face the reality of her situation.
I encourage you to check out her update video that we released recently :)
She’s an intelligent woman, i have faith she can improve her outlook! ❤
I encourage you to check out her update video :)
People who want your results will take your coaching advice, lol. 'As empowered woman who don't-need-no-man, I was a young single mom with 2 abusive baby daddys, while refusing to work and being an aging 'student'. I then spent a lifetime being totally incompetent with money, and squandered all my assets, blaming a recession that didn't happen yet. Now I proceed to to shop at Trader Joe's and I just maxed out my Nordstroms card while being borderline homeless, and I also fell for some type of scam recently. Let me coach women on being empowered"
FFS.
She's absolutely delusional. She feels entitled to either not work at all, or only work cushy, part time, jobs that she isn't even qualified to do. 'i can edit a resume'..... lol, so can everyone else! Walmart greeter is literally what you're qualified for, lady. Damn.
Networking you're way around foodbanks. That statement shows that the American dream really has become the American nightmare. Beg your way around foodbanks. How tragic.
We are so lucky in Canada that govt give money to children below 18. Life is hard but with the govt child tax support, it helps a lot for raising kids. Canada also has this OLD AGE SECURITY (OAS) $500 guaranteed money for seniors 65 and above
Hmm good point I wasn't aware of this!
I feel terrible for her. Thank you for showing her the dignity and respect she deserves.
Catherine is in a much better situation right now, more information to come :)
@@itsRomainFaure that’s so good to hear!!
Uber, Uber eats, Lyft, DoorDash, retail…now I know why I’m seeing so many older folks working these jobs 😢
The life coach bit was ironic, I almost spit my water out when she said that.
Check the update at the end, things have changed :)
Seeking to improve a bit every month and to leverage the occasional quick gain will more certainly generate momentum. My sympathy to Catherine.
Spot on !
love his french accent
I’m learning the hard way. I’m 55, single mom of 2 teens, however, I have no debt except for my mortgage. My house has more than doubled in value, I have an emergency fund. But I can’t seem to invest or contribute to my IRA. I’m basically screwed.
FALSE you are in much much better situation than most Americans at your age, see the positive and leverage the value in your house!
@@itsRomainFaure thank you for the positive feedback. But I still must have a way to receive monthly income when I retire (if I even can).
My heart goes out to her. I worry about the younger generation who can barely keep up with current cost of living, let alone put money away for retirement. I’d look into Velocity Banking in addition to all your suggestions.
Interesting 👍
Anyone can open up a Roth IRA account. Even putting $50 a month is much better than nothing. It’s not difficult on an average income to be set for life.
Thank you, Catherine. Have you thought about contacting Homes for Abused Women for jobs. With your background I think you could make positive changes in your life and others. Teaching others to speak English is wonderful.
Thanks for sharing
Pay yourself first
A portion of all money you take in is yours yours to keep yours alone yours forever. Never stop working Never stop saving Never stop investing. The road never ends. ❤❤❤❤❤❤❤❤
I don’t understand how she could coach when she was struggling financially
Different type of coaching, but I hear you
I feel for her! I am 53 had a lot of money in my life and now i am starting all over again! I make only 22,800 a year! Never had a job making over 30,000! But now I am investing in stocks for my later years and also I have no debt at all! And I live in nyc all my life! But I still have my Health so that’s a blessing! I know I will make more money
@@JOESUBA122 53 is still young ! You got it 😊 I encourage you to check out her update video as well
In a situation like this, outflow cannot be higher than inflow. Romain is correct to ask her to leverage on resources externally to help her to cut down on her spending and finding new sources of income. I wish her all the best
Thank you, and I hope you had the chance to check out her update at the end of the video :)
My husband would have wound up just like this lady if he hadn’t let me take over all our finances when we got together. I’m neither bragging, nor ragging on him - just saying that his near-complete lack of financial understanding and planning would have eventually led to ruin. He was (and is) frugal, and he’s always been a hard worker, but he was barely keeping his head above water while paying his mortgage and working at low-wage jobs. We eventually got the situation under control, and both of us are now comfortably retired together.
Great video
I appreciate I hope you had the chance to check out the follow up as well
this is a horror scenario…i wish the best in her journey to financial responsibility. this is a big step!
I encourage you to check out her update video that we just released!
At present, the most prudent consideration for everyone should be diversifying their income sources, ones not reliant on government support, particularly given the ongoing global economic challenges. This remains an opportune moment to explore investments in assets like digital currencies such as Bitcoin, Ethereum, and XRP, thanks to Flora Elkin for her guidance in these fields her proficiency is outstanding
It is really refreshing to see a comment about Flora Elkin.I have worked with her also for months now, reached out after reading more about her on the internet. she simplifies matters, whether it's a market surge or drop; her approach consistently keeps you ahead of the trend, She's a guru i'll say
Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Flora's insights. It's akin to finding a diamond in a coal mine.
Crypto role as a store of value and its potential for future growth make it an attractive investment option. trading can be a thrilling way to participate in this digital asset's journey.
I have a friend who earns $350 - $400 a month doing market research. Clinical trials pay more for anyone who has certain medical conditions such as arthritis or bad knees, memory problems, or mental illnesses. Mock jury trials pay around $400 to see how real jurors might react in a legal case.
I'm 66 and plan to keep on working. I'm an Application Developer so I just need to be able to see, think and type. I have been doing my work from home for years now. The new disturbing trend is to do away with remote jobs and just have office or hybrid jobs. There is a growing older work force and I hope that companies realize the resources they have in part time or remote jobs. It can save a life or two or many.
Valid points.
veey difficult in the uk to get work over 60 yrs even as a nurse manager ( theres a shortage if nurses in the uk).
@@castlequay2327 That's a shame. I shared a house in Nevada US with a nurse. She talked a lot about contracts and negotiating. Guess I had a little idea in my first job supporting 7 hospitals in NYC. Most of the work was Union agreements and the Nurses had major input to administrative decisions.
When I worked for Health Care Management clients I discovered there was many previous Nurses involved in claim processing.
What do you think is the problem behind them not wanting to work with 60+ people?
@nomadicbrian i think employers just expect over 60year old staff to be off sick or waiting for surgery.
@@castlequay2327 Sad. That is outdated thinking. In my early 60s out hiking lead by a 70+ hiker taking us up switchbacks to get to the perfect view. Much panting for me I recall. Its a different world now where 60+ people are active. Saw and older couple hopping up rocks once in Red Rock NV as we were taking our snack break at the half way point.
That was just brutal. I feel for her.
There is hope! Check the update at the end of the video :)
@@itsRomainFaureI see! Sounds like things are getting better for her. I love that she’s teaching too.
Katherine is well educated, has lots to offer. Age is nothing but a number. Count each skill as a potential income stream and work it baby.
We need to expose whoever she signed up with. For coaching classes cause they sound like a scam
I have no knowledge on this :(
I don't understand how people can be so irresponsible. My mom taught me from an early age the importance of budgeting and saving. I started saving for retirement with my first job out of college. With that I was able to retire at 52.
Funny how he is apologizing for telling her the things she needs to do.
As a French individual, and also in the US I do old a lot of respect to age. And it is not easy for me to tell someone at 67 years old to go back to the workplace … however I believe that this approach really worked out well with Catherine as you can see in the follow up at the end :)
Can I borrow your mom ? Asking for a friend....
She was a "women's empowerment coach" but she's not too "empowered" financially. She is also living in her own fantasy world.
I encourage you to check out her update video that we just released this morning! It is exciting!
I feel so bad for this woman. She has chased external validation her whole life. She has also lived in La La land for a long time. How can she say she has a coaching business? She actually has a DREAM to run a coaching business, probably because she thinks it will bring her admiration.
Off the top of my head - online customer service, child care and pet sitting.
She needs to look for jobs that are actually in demand. Coaching and editing are few and far between. The only people making money from coaching are those selling the courses.
Check out the update at the end you will like it !
@@itsRomainFaure Excellent!
I'm glad I will have a teacher pension in California. I really don't know how I would have made it unless I had gone back to school. I really feel like we need to go back to a pension type system or a hybrid pension/ 403B/ 401K type thing
Thanks for sharing your story :)
As someone at the same age as Catherine I can sympathize; unfortunately it seems she is a bit of a dreamer. I hope she can turn this around.
Thank you for commenting, I invite you to check out her update video on the turnaround :)
@@itsRomainFaure I did see the update and it was wonderful to see her so upbeat and heading in the right direction
A thing to remember is that in her (and my) generation, you never heard about retirement. If you were lucky, you had parents or other adults who taught you about it. There was no internet and there were no TV ads about it. You can only know what you see modelled or learn about.
Does she get around $2500 - $2600 per month in Social Security?
What about SNAP and Medicaid? (I don't remember health care costs being brought up. Does she have to pay Part B?)
Good insight !
That’s not true. People often spoke about retirement and most wanted a job with a pension that would provide a good retirement.
@@minoozolala I guess we had different experiences.
Part of the point I was trying to make was that there wasn't much public information (TV, internet) compared to today. Without that, we're dependent on people teaching us about it. If it's okay to ask, how old are you?
Single mom from two different donors in her 20s...
Lived the single life dream...
Woman's empowerment coach...with no clients
Wanted to "skip some steps" in her working life...
And this is how it ends
An “empowerment coach” that can’t manage her own finances, sounds like the perfect person to go to for advice. lol
Love this. Very good advice. This is so sad and it serves as a reminder to us all . She could also be an Uber driver
Thank you! I encourage you to check out her update video as well that we just released a couple of days ago :)
Thanks for the lesson that I have get from uou.Thanks a lot
My pleasure, thank you for trusting me with your time Chris !
She has the best intentions but her business doesn’t seem viable. Coaching people how to set boundaries and to say no (?).
OMG, how is this possible 😢 I hope she will be ok.
I hope you had the chance to check her update at the end :)
You’re soo nice, gently telling her she is screwed.
She is not in a preferred position I would say 👍
French Caleb Hammer is more gentle than American Romain Faure.
@@lukegetz9785 😅
I need this
Thank you❤
Here’s to working up to a home 🏡
You got this!
Nordstrom…maybe she never recovered her self esteem after the abuse and thought it could come from dressing well. I fell in that trap. Poor woman.
She is on her way back! I hope you had the chance to check out her update at the end of the video!
1. Choosing right partner is one of the most important financial decision. I made the same mistake.
2. When you are young, work 2 jobs
3. Focus on yourself and kids only. Do not get distracted by boyfriend/girlfriend - the least reliable in your life.
4. Never waste 1 second of your life
HOPE AND PRAY HER 2 SONS HELP HER
Her situation with her sons is very tricky :(
How on earth can someone in that situation consider herself empowered enough to be a Women's Empowerment Coach? You can't teach what you aren't able to put into practice yourself. Financial wellbeing is one of the biggest aspects of living as an empowered person.
I invite you to check out her update video that we just released yesterday!
@@itsRomainFaure I def will.
@@TrueWalker88 great let me know your thoughts :)
A lot of people will benefit from this episode. She did a good service by going on the show.
Agreed. It’s not easy to be so vulnerable and share these details. A lot of shame connected to our financial decisions for many of us. But deeply appreciate her sharing as it’s in service in helping younger folks to wake up and pay attention to all the financial things 🙏
There’s always hope. Thank gawd she gets a $1800 a month SS check. I know people who still witk at 80+yo.
Exactly, he said 67 is tough for working but ppl retire aft that age. My dad sold his business and went back to work at 75 to add to good savings :) He is now independently living alone, driving + a Minister who, doesn’t take money for Ministering… + tho ppl think he is 70… he is at 91 in 5 mos :)
Romain s/b applauded for this work. My dad is smart but smart Romain has helped ME, who’s close to her age ☺️
@@robinpigeon2070I
It’s always good to talk things through and to receive the help and support you need to help motivate and guide you to improving your finances . I recommend watching Dave Ramsey as well as Romain