How does it feel to have millions of dollars in debt at the age of 40?

I am in my 40s and have a debt of more than 2 million.

I haven’t dared to think back over the past few years. I spent the first half of my life carefree, but when I entered the age of second aunt, I actually fell from the sky to the ground, and was even smashed into the basement!

Originally, I owned a jewelry store. I had a stable customer base. The "gods" who loved my craftsmanship only loved me, and I also pampered my customers. Appreciate all kinds of treasures such as pearls, jade and jade every day, enjoy the compliments and get paid every minute.

It’s nice to have such a happy little life with no worries about food and clothing, husband and children. Originally I was quite content. As we get older, which woman doesn’t want to be young forever, and I also hope that I can never grow old. I like to be surrounded by praise and believe that I can do better than I am now, so I joined the micro-business army with great fanfare.

I never expected that such a simple pursuit would put me in a desperate situation. Some investment partners and I are optimistic about an anti-aging product and a popular financial model. At that time, I looked forward to the upcoming success every day, and felt that I had already stepped into the billionaire club! In the last battle of 2017, I was preparing to enter a home for retirement, but I didn’t expect that the “financial model” that was weighing on me collapsed! plate! Got it!

I successfully transformed myself from a "rich woman" to a "negative woman"! The economic situation has been deteriorating since 2018. By the end of 2019, before the COVID-19 epidemic, it finally went from assets of more than 20 million (with ample cash flow) to liabilities of nearly 2 million!

I have a handful of credit cards, and all the high-limit credit cards I was once proud of have been maxed out, which has become a burden that makes me breathless. For credit cards and online loans, almost every day of the month is the final repayment date. A three-finger-wide notebook is filled with repayment information so densely that it makes me suffer from trypophobia.

Due to the successive attacks on dimensionality reduction, the store was gone, the house was gone, and I rented a studio with my children to build a floor shop. All my cards exploded, and even my insurance policy worth nearly one million was wiped out.

Since it is a partnership business, all the friends around me are in trouble. Good friends who are familiar with each other, those who are not familiar with each other, or those who think they are familiar with each other, all fall apart in the face of interests, blame each other, add insult to injury, walk away, and compare every penny with money...

2019 The last straw that broke the camel's back came at the end of the year. China Construction Bank stopped using it after I paid off the temporary credit limit of RMB 60,000! This 60,000 yuan is what I poured out from Everbright! Ah, ah, crazy. Everbright became the first to be hit by the thunder. My fixed quota of Everbright is 160,000. After that, there was a domino effect, and a series of credit cards worth more than one million yuan and online loans worth 7 or 8 million yuan were all overdue.

In the past three years, I have really seen through the right and wrong of life. I know whether the water is warm or cold. In the face of money, I also realized a lot of life principles, and I saw what it means to be a phoenix that is no longer on the shelves, it is not as good as a chicken; It also forced me to grow up from a "silly white sweet". I had to clean up the mess by myself, close the store, sell the house, pack and move, argue with my partners and fight lawsuits, argue with the bank about debt collection, I really don’t know how I managed to survive, and now I look like a menopausal aunt with all the holes in my body.

Thanks to my son. When he needed money the most when he was in high school, he was bald because of his mother. He didn’t even say a word about me when he asked or complained about me. He quietly did his own thing, even when he was in high school. He went to work part-time during the holidays without telling me, and he was not yet 18 years old! I am also grateful to my pillowcase. In order to clear the debt and avoid greater harm, we no longer have a legal relationship, but he still never leaves me and cares about me. I am most grateful to my parents. The starting line is so important. My parents are my strongest financial support. They called me home at critical moments and raised my son for me, so that I can still have enough to eat and calm down to reflect on myself.

When parents are here, there is still a place to come; when parents are gone, there is only a way back. My parents are nearly 80 years old. Fortunately, they are in good health and can take care of themselves. After spending more than half a year with the elderly, I have deeply realized this saying, stay with your parents and never travel far. Kindness is the greatest wealth.

I would like to express my deep gratitude to all my teammates or opponents who have made me grow. I believe everything is the best arrangement. Let me bend it a little softer, the tighter the spring is, the higher the rebound will be.

I am 46 years old and have a debt of more than 3.8 million. In the past, when I was doing book wholesale, my annual profit was at least RMB 600,000. Due to repairs on black houses and investment projects, he was in debt of more than 3.8 million yuan and was worse than dead.

If I hadn’t blindly built a house without formalities, I would have trusted my friends to invest all their money in the project. I would not end up today with nothing and a debt of more than 3.8 million yuan.

I have a beautiful wife and three lively and lovely children. If my investment had not failed, our family would be living a sweet and happy life now.

In 2009, many people built black houses in the suburbs of our provincial capital, and I couldn’t help but feel ready to do so. I spent 552,000 yuan to buy a 1,150-square-meter piece of wasteland and build a two-and-a-half-story black house measuring 1,370 square meters.

Due to a lack of budget, we borrowed 600,000 yuan from a local private person to pay off the materials and workers’ wages. It is agreed that the monthly interest payment will be 42,000 yuan.

Later, he failed to repay the principal and interest in time. He borrowed new money and repaid the interest, and the more he owed, the more he owed. Finally, the house was sold to a local person, and after paying off the debt, there was still 800,000 left.

Then during the National Day in 2010, I spent half of the down payment of 700,000 to buy a storefront.

In December 2010, I spent 320,000 to buy another 800 square meters of land in the suburbs of our provincial capital and started building a second house.

The second building was expected to be 560 square meters with one floor and six floors. In the end, due to increasingly tight policies, only two floors were built and no more floors could be added.

In March 2014, several friends around me were doing well in engineering. I happened to meet one of them who said that he was going to work on a project and would make a guaranteed profit of RMB 20 million upon completion. I still need to invest 2 million, so I asked if I am interested in doing it.

After discussing it with my wife, I thought it was a good opportunity. At that time, we only had 50 yuan in cash. We sold the second black house we built at a loss for 1 million yuan, applied for a bank loan and credit card, and collected 200 yuan. Thousands of dollars invested in a friend's project.

Soon something unfortunate happened. Construction safety was not done properly, and several people died in landslides. After a thorough investigation by the government, the project procedures are still being processed. It was suspended indefinitely by the government. I sold all of my RV property to pay for workers' compensation compensation, and I owe over 3.8 million in debt.

After accumulating several million in debt, I had already misappropriated all the purchase money for book wholesale. I could no longer continue the business and the company was forced to close down.

After losing our income, my wife and I were unable to pay even the minimum repayments on our nine credit cards. Three bank loans and a dozen small loans could not be paid in monthly installments. Debts exploded intensively, and collection companies took turns to appear. At the peak, we received more than 300 collection calls every day.

The days of collection were simply worse than death. If it weren't for the 80-year-old mother above, there would be three underage children below. To put it bluntly, I'm afraid you'll laugh at me, but late at night when I couldn't sleep, my wife and I even had plans to pass away.

Decadence returns to decadence, depression returns to depression, but there are still so many worries, how can we just walk away?

Death is not terrible, but living requires greater courage!

Subsequently, creditors sued one after another, and the court froze bank cards, making it impossible to clock in wages, resulting in Zhenggui Point’s company being unable to work.

There was a time when I was confused. There was no place to take part-time jobs, and I had no capital to start a small business. There is no stable source of basic rent and living expenses.

I think many people really can’t imagine the dilemma of not having enough to eat, and having a child with a cold or fever who can’t afford tens of dollars.

After experiencing a short period of confusion, you still have to cheer up to survive. My wife took the two younger children back to her hometown to study, and she did odd jobs such as handing out flyers and bus passes, which cost tens of dollars a day.

I am looking for work in the provincial capital and taking care of my eldest daughter in high school. I worked as a driver and sorted in the warehouse of a courier company. After get off work, I ran a street stall and worked part-time online. Take the time to learn how to make money.

The schedule I set for myself is to sleep five hours a day, and maintain a minimum of 16 hours a day while working, part-time, and studying.

In addition to ensuring the rent and living expenses for the two separate places, the money earned every month will be repaid as much as is left. Over the years, about 1.2 million has been paid back one after another.

Although it is hard work, although it is still far away from paying off the debt. But as long as I persist, I will have hope.

In the past six or seven years, my wife and I have not bought a new piece of clothing or a bag. I still wear my underwear with numerous holes after being washed, and I only have one pair of spring and autumn shoes all year round.

My wife and I have never eaten a piece of meat in our six or seven years of cooking at home. The family buys meat two or three times a week, mainly for the two younger children.

My wife and I often only eat one meal a day. Even if it is vegetarian sauerkraut and white rice, try to save a little bit. Sometimes when cooking noodles, salt is the only seasoning, no oil, no soy sauce, no vinegar, no ginger, onion, and garlic.

The younger two children have not drunk milk in six or seven years. They have meat for every meal, they have never eaten KFC, they have no decent toys, they don’t have new clothes every year, and their schoolbags only last a few times. Year. The younger daughter used the Xinhua Dictionary and the son continued to use it.

Over the years, we have learned that we should try our best to rely on ourselves for everything, but there are still emergencies, especially in the early years when the children were too young. Someone had a cold and fever and said he had no money. It's really not a penny.

Sometimes you may not be able to borrow a loan worth three to five hundred yuan even if you make more than a dozen calls. Over the years, I know too much and have fewer and fewer people to contact.

Fortunately, I got through it step by step.

The eldest daughter graduated from college this year and has already started an internship. The eldest daughter said that after she has paid off the national student loan, she will help me pay off the debt.

I feel warm in my heart when I hear it, but I still have to do my best to pay off the debt I owe. The child has just graduated from college and her monthly salary is only two to three thousand yuan. The child still wants to take the postgraduate entrance examination and start her own business. She also has other pursuits, so she cannot be held back.

Under such circumstances, I should not have traveled far. If it were possible for me to make money in my hometown and spend time with my elderly mother, how happy it would be!

But I still have to make money to pay off a debt of more than 2 million yuan, and I still have two younger children in elementary school. I also have to make money to buy a house to shelter my family from the wind and rain. I was caught in a dilemma between filial piety and work. Having no choice but to go to other provinces to make money is the biggest pain and concern in my heart.

If you are under 30 years old and you are in debt, you may not have children;

If you are over 50 years old and you are in debt, your children may have grown up.

These two age groups are in debt, do not have the burden of raising children, and can devote themselves wholeheartedly to making money.

But people in their 40s are in debt. Like me, who has three children and a mother in her 80s, the debt is more than 3.8 million. To be honest, the pressure is not ordinary.

It is normal to have several million in debt at the age of 40. A few years ago, when the stock market plummeted, I lost 15 million, including less than 8 million in loans. The pressure is great, because in addition to the principal, interest accrues every day and needs to be repaid, the living expenses of the family and the family, several mortgages, and it is impossible to survive without transferring hundreds of thousands every year. There was a time when I really wanted to jump off a building. But I have children to raise, and I have to hold on through gritted teeth. I had no choice but to borrow money to do futures and invest in real estate. After two or three years, more than half of the loan was repaid. Part of it was still unpaid, but there was hope. Once I sold one or two more houses, I could completely turn around and start business. It won’t matter if I have to start over again.

These are very strange questions. I am an entrepreneur in my forties and once had a debt of more than 4 million, so I choose to answer.

How does it feel to have millions in debt at the age of 40? I think you, the questioner, should know best what you feel? What’s the point of asking others how they feel? Suggestions:

First, don’t let others expose your scars. Adjust your condition first. No matter what you feel, it doesn’t mean much.

Second, if you can owe millions, you should be able to pay it back, otherwise it is a fraud.

Third, whether you are worse off than dead or in pain, you have to get through it. It has little to do with others.

Fourth, it is natural to pay back debts. Earn money and pay off debts without hesitation. Don’t discuss useless things.

In short, don’t pretend to be pitiful in front of the public and air your sorrow, isn’t it interesting? Being a man is the right way.

That’s all. Thanks for reading.

I was born in 1977, I am 45 this year, I would have been 38 seven years ago. At that time, I had a debt of more than 2 million yuan, and it took me six years to repay the debt. Not only did he lose half of his life savings, but he also mortgaged his house and car, which were eventually forced to be sold.

The first half of my life was smooth sailing, because I knew some programming knowledge and could write a simple game plug-in without any problem. This also gave me my first pot of gold. Later, I accidentally entered the real estate industry and started building real estate projects with my friends. People say that spending money is like running water, but I make money like running water. However, success is also a failure and failure is a failure. My friend ended up running away with the money, and all the money I paid and the materials I provided turned into the three cold, unfinished balcony.

Not all of the funds at that time were my own. I had borrowed them from friends who promised dividends, there were materials owed to suppliers, and there were also various bank loans and online loans. I ran away with the advance money, and the bad news spread thousands of miles. I was stuck at home the next day. Let’s put it this way, what I have experienced and the current collections are child’s play. I have carried old men and women out of my house and refused to leave, cried loudly, and threatened them with guns. I have experienced all these.

Most of the suppliers and other investors have paid off their cars and houses, but after taking into account personal and bank loans, there is still a debt of more than two million yuan. what to do? cry? Useless. I summoned all my relatives and creditors to my hometown, and my father stepped in to preside over it because it was in my father's hometown in the countryside. My father said something: The matter has already happened, we are all relatives, and the money cannot be paid for the time being. But it certainly won’t blind everyone, the interest may not be there, and the money will not be less. The father's family is highly respected, which can be said to be oppressive, but what can be done? Some people cried, some cursed in a low voice, and some looked at me: How could this happen? Why! Walk away helplessly. There were also those who refused to leave. In the end, they realized that they really had no money, so they had to say: If you have money, pay me back first. I need it urgently.

Friends around me also gathered together in this way. Everyone was helpless, and I was also helpless and ashamed.

Now all my debts have been paid off, and I have bought a car and a house again. I advise you not to start your own business with arrears. There are many ways to raise financing. The debt weighed heavily on me at that time made me breathless. As for how it felt? Definitely don't want to come back a second time. Fortunately, I am a pragmatic person, not a sentimental person. During the past six years of repaying the debt, I had no contact with anyone. I kept my head down to make money and disappeared from the world.

From selling snacks at a roadside stall to today’s hosting, tutoring agency, small micro accounting, and software development. I have come step by step from childhood to adulthood. Today I tell people who are still in the quagmire that if they want to get up, they have to rely on themselves. It is possible that you are still working hard in the first few years, and then you can explode in the next few years. Just like I had no money to pay off my debts in the first four years, and then paid them all off in the next two years.

Come on, being in debt is not scary. What is scary is that you don’t act or persist.

If you can still have millions in debt at the age of 40, you can basically be sure that this kind of person has been too smooth in the first half of his life and has not enough insight into society and human nature. This kind of person can live in peace and prosperity even if he is a small fortune. Throughout life, if you have a little bit of restlessness, you will lose everything even at the age of 60...

Sooner or later, people will have to pay back...

I am 38, and I have been trading in stocks for 10 years. The deeper I got, the more I lost. I didn’t even keep track of how much I lost, so I kept looking for money to replenish my positions and use loans to finance my loans. After a few years, I finally couldn’t recover in December last year. I owed a total of 1.2 million, including credit cards and online loans. , personal debt, I confessed to my family that I didn’t have much money to help pay it back. I kept getting calls from banks and online loans to collect debts. I was so tired after persisting for more than half a year. I wanted to end myself countless times. I looked at my two children, over 6 years old and 4 years old. I am over the years, but I have not died after all. The incomprehension and indifference of my family now is basically the last straw that breaks my heart. I am so afraid that I will not be able to bear it...

Everything is over. I brought it upon myself, and deserved it...

I am also in my 40s, not even 50 yet, and already have more than 10 million in debt. My feelings are quite deep. What you have heard and what you have seen Yes, I have experienced all of this, from suffering, to daily panic, to extreme depression. Once you are in debt, you will be able to see the ways of the world clearly, and you will have an epiphany that many ordinary people cannot. Knowledge, you finally see clearly who you are. If you are in debt and you don’t understand this, then your life will be over. Many people are in debt and pass the responsibility to others. They hate whoever they say. Old It refers to how others feel sorry for themselves. Anyone who talks like this actually cannot understand the reason for their failure, that is, it is because of your negative energy that causes you to be in debt. People who understand it usually start to seek inwardness. , that is, everything is your own problem. The result you have reached today is all your fault, and it has nothing to do with anyone. Being in debt means that you do not understand financial knowledge, you do not understand cash flow management, you do not understand Assets and liabilities, you have a serious gambling mentality, everything you do is speculation, you don’t understand legal risk control, you don’t understand business management knowledge, you don’t understand financing, you don’t understand how a company can survive, you have a winning mentality Kill you, you understand these shortcomings of yours, you should understand that it is all because you have not done well that you are in debt. You should be grateful to those who put you in debt, and you should be grateful to those who avoid you. , they are the ones who make you successful, they are the ones who make you grow, they are the ones who teach you, so you have to work hard to learn your shortcomings, learn financial knowledge, learn legal knowledge, learn financial knowledge, What exactly is leveraged finance? Where does the money come from? How should we design it to make money? How can we make wealth so that we can earn more? How to avoid legal risk control and how to use tax savings to create wealth for yourself, this is what you need to replenish your knowledge;

People of the same kind flock together, and the struggle between people is You understand, I don’t understand; I understand, you don’t understand; I understand, you understand, I did it, but you didn’t do it. This is the secret to your turnaround. Your secret to dealing with debt is: first solve the problem of survival, and then solve the problem of development. , finally solve the debt, this is the step. Never borrow money, even if you have some money, you have to pay off the debt when you have not settled down in your own life. In the end, problems arise in your own survival, which means that you have not dealt with any debt, so the basics of dealing with debt are The condition is to solve the problem of survival first, then develop, make money, use the money earned from development, and then deal with the debt problem. This is my experience. I hope this content can help you, and I hope you can get on board as soon as possible.

I have a debt of 400 in 32, and I think I have paid it off at the age of 40. I don’t want to be in debt again.

How big a deal is it? Hold on! If you have the ability to take on debt, you have the ability to repay it! The first is to take good care of your body. This is the foundation that cannot be shaken. The second is to find a way not to worry your family and live a stable life no matter how much you are in debt. The third is to calm down and straighten out your strengths and weaknesses, use your strengths and avoid weaknesses, and take one step at a time. ! Don't let yourself down, otherwise you will really go bankrupt!

Remember: tides have their ups and downs, but your character will never go bankrupt!