How a widow lost 8 million dollars and was rebuilt for $ 531 thousand and experts

After receiving a $ 8 million settlement after her murderous husband’s work incident in 2008, Mikel, a 53 -year -old widow from Charleston, Western Virginia, used to a close friend in a bank.

Two years ago, I discovered that he went.

Mikel said through Ramsey show.

Betrayal left Mikel in an unstable place. She now lives in the vehicle on her mother’s property and still owes $ 12,000. It also has some credit card debts and depends on the advantages of compensating workers from the employer of her late husband.

Unemployed with continuous expenses, its position is a challenge.

Michael said that she had reported theft and has lawyers working on her, but it seems that the money has been gone. It may only recover about one hundred thousand dollars. She added that the alleged thief is now in Florida and did the same with other widows.

Recently, the Mikeal has received a settlement of misconduct $ 531,000. She said she is determined to develop this money quickly to secure her future.

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Ramsey Show George Kamel and Ken Coleman has offered an organized plan to help Mikael to restore financial stability. They suggest that you can sell the cart, use the profits to pay its credit card and the absence of debt again. It can also build an emergency box with some settlement funds and invest the rest. This is a collapse

• Selling the cart. Selling it can eliminate $ 12,000 debts and may find housing options at reasonable prices.

• Credit card payment. The cleansing of its balances will reduce financial pressure and improve its credit degree.

• Create an emergency fund. Putting part of the settlement as an aspect would give it a pillow to unexpected expenses.

• Investing wisely. Put the remaining funds in diversity, Low portfolio portfolio It can provide steady growth. Financial experts recommend options such as ETFS -SPDR S&P 500 (SPY), Vanguard S & P 500 (VOO) and Vanguard Total World Stock (VT)-for a wide exposure to the market and build a long-term wealth.

• Work request. The re -introduction of the workforce, even part -time, will bring an additional income and add a structure to its day.