Decades of saving and hard work as a teacher earned Beverly Welsh what she thought would be a comfortable retirement.
She bought a townhouse in Las Vegas to be near her mother, but the longtime South Pasadena resident continued to spend time in her beloved Southern California. She spoiled her five cats. She took acting classes, landing small parts in a few low-budget films.
Then the bottom fell out of the real estate market and stocks cratered, wiping out a third of her $750,000 net worth over the last two years. Tight on cash, the 76-year-old retiree says she may seek work as a substitute teacher to supplement her dwindling investment income.
“It’s unbelievable how quickly it happened,” Welsh said. “I’m not sleeping well.”