However, that was not what Ken Karpman was doing two years ago. He was making $750,000 dollars a year. That is more money in weeks than most of the American make in a year.
Karpman and his family were living the life of rich and happy. They used to have a membership in a luxury golf club, enjoyed luxury vacations and had a glorious house. But they did not anticipate the rainy day and did not save for that.
Everything changed for Ken Karpman and his family when the economy started the downward move. Karpman by that time had left his well paying job and had started a Hedge Fund. He was a CEO who was making 750K a year. Now he is an ex CEO who describes to TV producers his life of what it means to delivering pizza for $7.29 an hour.
Ken Karpman has an MBA from UCLA and was an institutional equity sales trader. He and his wife have two children. But the problem was that Karpman bet everything on a good economy. He did not anticipate that things can go wrong.
ABC says that their house is already foreclosed and they are in credit card debt of 100,000 dollars. Their children keep going to private school and someone is anonymously paying for the children.
This is a sad story and does not make to point fingers to Ken Karpman. This is a story of hundreds of thousands of struggling Americans who who have either lost their jobs or are struggling to make their mortgage payments. Not everyone of us thought about rainy day. And Ken Karpman's case provides a good and learning lesson for all of us.
There is something very positive that I saw watching the ABC video about Ken Karpman and his family. While we see how many families easily fall apart he and his wife are staying strong together and raising their kids together. The difficulties of life did not challenge their family values. Great job on that guys keep going. Recessions will end and your family and the love will remain.
The lesson Ken Karpman's case provides us
4. Stay strong with you family, the challenge will pass.
5. It's OK to take a lesser paying job. C'est la vie
6. Keep doing what it takes to be a good husband and a good father.
I wish Ken Karpman and his family and all the struggling families the best. We all pray and hope that this recession is over soon and when we get out we remember that rainy days come. We need to be prepared.