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Article: Wall Street wives feel the pinch; They've had to curtail their shopping habits. Geraldine Baum reports.(Dispatches)
- Article from:
- The Sunday Independent (South Africa)
- Article date:
- November 9, 2008
CopyrightCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Mona Mond had a plan - and it didn't include Wall Street going haywire and giving up a three-bedroom house with a quarter-hectare garden for a small apartment.
She'd married a man with a career on Wall Street and at the very least she was going to live in a house, preferably new, with a spa in her bedroom and a pool in the yard. There'd be a maid - and no skimping, no worrying that any day Amar, her husband, would lose his job.
The Monds would retire early with $10 million to $12 million in a rock-solid retirement account that would spew off enough interest to keep them going. That's how it goes during good times on Wall Street.
But now there are no sure bets.