Business Insider·4 min read·easy

I had my dream job, but never felt financially secure. I went from $500,000 in debt to debt-free in under 2 years.

I had my dream job, but never felt financially secure. I went from $500,000 in debt to debt-free in under 2 years.
AI Summary

Christos Garkinos, a successful entrepreneur, shares his personal journey of overcoming $500,000 in debt during his late 50s. He reflects on how childhood trauma and a fear of financial instability influenced his spending habits and relationship with money.

Why it matters

It highlights the psychological aspects of financial management and the reality that high earners can still struggle with deep-seated financial insecurity.

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Christos Garkinos went into debt in his late 50s. Courtesy of Christos Garkinos Christos Garkinos was terrified of being like his dad, who died young with no money. He's always had a relatively high salary, but didn't feel financially secure. He went about $500,000 into debt in his late 50s and is rebuilding his finances in his 60s. This as-told-to essay is based on a conversation with Christos Garkinos, founder of Covet by Christos . It has been edited for length and clarity . I learned from a very young age what success meant: it was money in the till after the lunch rush. My Greek immigrant parents owned a diner in Detroit. Each day, 150 people would flood in for lunch, and my family would fall apart.

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