EXCERPT: Lost and Found
The following excerpt is from Lost and Found: Unexpected Revelations About Food and Money by Geneen Roth. Here’s more about the book.
What Was Lost
I was standing in my kitchen wondering what to have for lunch when my friend Taj called.
“Sit down,” she said.
I thought she was going to tell me she had just gotten the haircut from hell. I laughed and said, “it can’t be that bad.”
But it was. Before the phone call I had thirty years of retirement savings in a “safe” fund with a brilliant financial guru. When I put down the phone, my savings was gone and my genius financial guru, Bernie Madoff, was in handcuffs. I felt as if I had died and, for some unknown reason, was still breathing.
Since Madoff’s arrest on charges of running a sixty-five-billion-dollar Ponzi scheme, I’ve read many articles about how we Madoff investors should have known what was going on, how believing in Madoff was no different from believing there were WMD in Iraq. And I wish I could say I had reservations about Madoof before “the Call.” I wish I could say I knew better about getting such consistently good returns, but I did not. Besides, everything I “knew better” about–stocks, smart financial advisers, real estate–had also proves disastrous: Our financial advisor embezzled a quarter of our money years ago, I lost another third in the stock market during the boom times, and we bought our house at the top of the market and sold at the bottom. Considering that, Madoff seemed like a respite–his fund showed occasional losses along with small, steady gains. (I’m keeping a list of people who want to be notified of our next investment so they can sprint in the other direction. Feel free to add your name).
It was always more important for me to find work that I loved than to be rich, I know this is an attitude that reflects enormous privilege, since so much of the world lives on less than a dollar a day and must concern itself with getting food. But I was (and still ma) unspeakably fortunate: I’ve always had clean water, sweaters to spare, more than enough to eat.
Although my parents were so poor when they married that they ran out of food money each week by Saturday night, my father worked his way up the corporate ladder–and by the time I was fifteen, our main metric of worth, both in the community and with one another, was our collection of new, shiny things. Cars, shoes, popular people. But like many baby boomers I spent my college years protesting the Vietnam War, rejecting consumerism and various other activities (like hiring a plastic surgeon to break my nose so that it could look like everyone else’s) for the many iterations of “finding myself”: therapy, living in India, and meditation. In my late twenties, I spent a year washing dishes and being a maid at a local inn and two years as an avocado-and-cheese sandwich maker in a health-food store so that I could spend early mornings writing. After that, I started my first groups for compulsive eaters in my friends Harry and Sue’s house; since I was working as a nanny and living in the bedroom next to their two-year-old daughter, they gave me the use of their living room to begin what seemed like a far-fetched idea: meeting with women like me to explore our relationships to food and weight.
Was I able to reject the pursuit of shiny things because I knew that if I ran out of money or luck, my father could rescue me? I don’t know because I don’t know what it would have been like to grow up in any other family. What id do know is that I saw what money cost: parents who were cruel to each other; addiction to alcohol and drugs; infidelity; physical and sexual abuse; and self-loathing all around. It was impossible to know if the pursuit of more caused the wretchedness, but the connection between misery and money was scalded in my brain–as well as the need to find out if there was more to being alive than being rich and sleeping with your best friend’s wife or husband.
News and information you need, from a source you trust.
In a world where it’s easier to find disinformation than real information, trustworthy journalism is critical to our democracy and our everyday lives. And you rely on Marketplace to be that objective, credible source, each and every day.
This vital work isn’t possible without you. Marketplace is sustained by our community of Investors—listeners, readers, and donors like you who believe that a free press is essential – and worth supporting.