Kathy Trant has had a double tragedy.
First, she tragically lost her husband on 9/11. Her husband Dan was killed in the World Trade Center attack.
As compensation, she received a large settlement and chose to receive it in all cash: $5 million in a one-time payment. Sadly, she did not seek advice or use judgment with the money.
She spent about $2 million on her home on Long Island, traveled the world, spent as much as $500,000 on shoes, and bought cosmetic surgery for her friends, or even for strangers. In less than 4 years, she has spent nearly all the money.
She describes herself as a “shopoholic”, and feels intense shame, sadness and guilt.