3 Cautionary Tales, The Sad Money Stories
These are all real. The names have not been changed to protect the not so financially savvy. We all know someone who is in this situation, maybe in it ourselves. Quite easy to fall into the trap. Not so easy to get out. Carlos and the Mini Mansion About 15 years ago my friend Carlos received a promotion and a very nice raise came along with it, so he bought a bigger house. He did what many of us do: run to the bank with the pay stub and ask "how much can I get?" He bought as much house as the bank said he could! A beautiful four bedroom, three bathroom house with a huge backyard. He lives in a gated complex within a larger gated community where he pays two separate maintenance/security fees. His only son is away at college and will soon get married. Carlos and his wife are now empty nesters and have no wish or opportunity to have more children. They have that huge house all to themselves. The complex has tennis courts, a large swimming pool and