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The Bag Lady Papers
The Bag Lady Papers: The Priceless Experience of Losing It All | Alexandra Penney
7 posts | 5 read
In December 2008, my worst nightmare came true . . . How do you pick yourself up after the one thing you most feared happens to you? Alexandra Penney's revealing, spirited, and ultimately redemptive true story shows us how. Throughout her life, Alexandra Penney's worst fear was of becoming a bag lady. Even as she worked several jobs while raising a son as a single mother, wrote a bestselling advice book, and became editor in chief of Self magazine, she was haunted by the image of herself alone, bankrupt, and living on the street. She even went to therapy in an attempt to alleviate the worry that all she had worked for could crumble. And then, one day, that's exactly what happened. Penney had taken a friend's advice and invested nearly everything she had ever earned--all of her savings--with Bernie Madoff. One day she was successful and wealthy; the next she had almost nothing. Suddenly, at an age when many Americans retire, Penney saw her worst nightmares coming true. Based on her popular blog posts on The Daily Beast, this memoir chronicles Penney's struggle to cope with the devastating financial and emotional fallout of being cheated out of her life savings and illuminates her journey back to sanity, solvency, and security. "I will work harder than I ever have before--which was pretty hard indeed--and see what happens. I have the feeling something good will come of it: tough, challenging work and laserlike focus have always paid off for me. . . . Was it better to have it and then lose it? Yes, yes, yes! Even though I lived with horrible bag lady fears of losing it all, now that those financial fears have materialized, I'm in pretty good shape and looking to what's next. Experiences--good and bad, exciting and boring, tragic and absurd--make up a life. Not to have lived to the fullest is the saddest, most irresponsible life I can think of." --- from The Bag Lady Papers
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blurb
TheBookgeekFrau
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Penney worked hard all her life; saved her money, and then made the mistake of investing All. Of. Her. Savings. with Bernie Madoff 😖

#MayMontage #FinanceMoneyRelated

TheBookHippie Ughhhhhhh 😭😭😭😭🤬 did you know he stole from Elie Wiesel as well and other Holocaust survivors 🤬🤢 12mo
TieDyeDude I don't know that the book would still be in tack if I read it...🤬 12mo
See All 7 Comments
TheBookgeekFrau @TheBookHippie He was a real 💩(minus the smile) 12mo
TheBookgeekFrau @TieDyeDude It's funny I thought the same thing going in, but it was more about Penney's build back than her loss 12mo
Eggs 💜🖤🤎 12mo
30 likes7 comments
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TheBookgeekFrau
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I swear every damn I go food shopping I feel like I'm one step away from being a bag lady on the streets.

The big 10 food companies are almost as bad as Bernie Madoff, of whom Alexandra Penney is a victim.

RebelReader I feel the exact same way! Highway robbery! 1y
TheBookgeekFrau @RebelReader It's crazy! Almost $11 for just over a pound of stew meat - like W. T. F!!!! 1y
18 likes1 stack add2 comments
review
allureofbeauty
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Panpan

Half hearted dnf because I made it over half way and then kind of slimmed. She is so far removed from reality. Like it is awful she lost all that money. But she still owned properties and with connections immediately got a job writing. There are so many who weren‘t that lucky I‘m sure. It just irked me.
#thebagladypapers #alexandrapenney #memoir #dnf #halfhearteddnf #needsarealitycheck #poor #helpmeimapoor

review
The_Real_Nani
Pickpick

Downloaded this on a whim because I needed a break from the heavier reading I was doing. Basically, I now have #goals. Love Alexandra Penney and the no-nonsense advice she gives on accumulating wealth (although she does somewhat of an advantage in her connections...) I just enjoyed reading this book and Penney's personality.

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Smartypants
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"Maybe I should write a book about the MF diet. Lose all your money, lose weight. Guaranteed!"

MF is the author's way of describing Bernard Madoff.

#madoff #ponzischeme #2008