Mom Made a Million. Dad Lost It.
What Actually Happened Revealed the Lesson I Needed to Learn.
When my parents immigrated to Canada, my mom walked two miles to and from her first job to save the bus fare. She worked for minimum wage, caring for a senior in her home, and that money went toward their first car, which allowed my dad to work as a draftsman across town.
My parents were both good at saving money. Two years later, they bought an old house in West Vancouver. We moved into the main floor, and my mom rented the basement to a young couple with a yappy dog and the top floor to students by the room.
She handed me a stack of photocopied advertisements for alterations to drop in people’s mailboxes. Soon, women came to our house to shorten skirts, take in dresses, and mend shirts.
My mom had bigger plans, though. She wanted a care home for seniors. She had her eye on a small one for sale in Shaughnessy. So she drew up a business plan, made an appointment with her bank manager, and my mom and dad pooled their English skills to make the pitch.
They didn’t get the full loan. However, the banker explained that they could still buy the place if they could convince the seller to lend them a portion of the purchase price. So, that’s what they did.
