Chick Cheryl flew the coop to pursue a career in Financial Planning. She currently works for Morgan Stanley and uses what she learned in the Chick (and then some) to help others get on a strong financial path.
It’s one thing to not have money and therefore be ignorant
about its power, but I find it somewhat embarrassing to have been
raised with plenty, yet found myself rather ill-equipped to handle
it.
Believe me, my parents tried to prepare me, however I was pre-occupied
with pimples and proms rather than profits and losses. Years later,
there I was, this big soap star (ok, in my own mind I was big),
making oodles of money which I would promptly deposit into my FAT
checking account making three something percent in interest (whatever
that meant). Ah, employment as an actress!! Someone should have
told me that #1... Soaps don't last forever, at least not all the
characters that act on them! And, #2... if you are making big money,
that doesn’t give you a ticket to financial freedom and irresponsibility!!
Once I flew the coop on the soap, boy, were my feathers in a twist!
Can you spell u-n-e-m-p-l-o-y-m-e-n-t?? It was at this point I decided
to get a grip on my finances. I received a call from a financial
advisor who had been given my number from a client of his, a friend
of mine. (I’ve discovered that this is how many in that field operate
-- they ask you for a list of friends that they can cold call. Weasels!)
I trusted this man because he was a friend of a friend, and the
firm he was with is no doubt one that you’ve heard of. Long story
short -- the package I was sold was a “private pension plan” offering
both a great investment return and life insurance combined. The
product was fine, but completely wrong for me. After several thousand
dollars, Excedrin headaches and letters to the company, I was able
to get my money back and later learned that the salesman had been
fired for using unethical sales practices and materials. Yikes!
What a key lesson -- Nobody cares about you and your money like
you do!
Thankfully, back in 1995 I did one of the smartest things I could
have done regarding money, I bought a computer and found myself
online. I “surfed” and found more information about investing than
that so-called "friend of a friend" could have ever told
me.
A few years later, when my girlfriend on the other side of the
continent suggested starting an investment club, I was thrilled! Sharing and exchanging info with women about investing... cool,
I can do this.
Soon after, 10 Chicks got together and started laying their Nest
Eggs. What an education it has been, with a little gabbing mixed
in. It’s still amazing to me that I was employed on a television
show, making lots of money, but I didn’t capitalize on it. Now,
I’m currently not working (amend that... I’m a stay-at-home mom
with two small children and I’ve never worked harder) and my money
is finally making money for me! Have I continued to make mistakes?
Yes. Will I make more? Of course. But, hopefully, there will be
fewer and they will be of a lesser magnitude.
I swear, if my children would ever learn to dress and feed themselves,
I would take the time to teach a workshop for actors about their
money. Financial independence is liberating, its empowering and
have I mentioned what a great outlet an online investment club is
for a mother? There’s nothing like sitting back in your bedroom
in front of the computer screen with a glass of chardonnay discussing
AOL’s 3rd quarter earnings report (following a lengthy discussion
of this week's installment of "Survivor"). Faintly, you
can hear your husband in the other room struggling to feed the kids
and ready them for bed!
Ah, I am a Chick! And Real Chicks don't chirp, they ROOOAAARRR!
Cheryl |
