The Bag Lady Papers

The Bag Lady Papers

The Priceless Experience of Losing It All

Book - 2010
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In December 2008, my worst nightmare came true . . .

How do you pick yourself up after the one thing you most feared happens to you? Alexandra Penney's revealing, spirited, and ultimately redemptive true story shows us how.

Throughout her life, Alexandra Penney's worst fear was of becoming a bag lady. Even as she worked several jobs while raising a son as a single mother, wrote a bestselling advice book, and became editor in chief of Self magazine, she was haunted by the image of herself alone, bankrupt, and living on the street. She even went to therapy in an attempt to alleviate the worry that all she had worked for could crumble.

And then, one day, that's exactly what happened.

Penney had taken a friend's advice and invested nearly everything she had ever earned--all of her savings--with Bernie Madoff. One day she was successful and wealthy; the next she had almost nothing. Suddenly, at an age when many Americans retire, Penney saw her worst nightmares coming true. Based on her popular blog posts on The Daily Beast, this memoir chronicles Penney's struggle to cope with the devastating financial and emotional fallout of being cheated out of her life savings and illuminates her journey back to sanity, solvency, and security.

"I will work harder than I ever have before--which was pretty hard indeed--and see what happens. I have the feeling something good will come of it: tough, challenging work and laserlike focus have always paid off for me. . . . Was it better to have it and then lose it? Yes, yes, yes! Even though I lived with horrible bag lady fears of losing it all, now that those financial fears have materialized, I'm in pretty good shape and looking to what's next. Experiences--good and bad, exciting and boring, tragic and absurd--make up a life. Not to have lived to the fullest is the saddest, most irresponsible life I can think of."
--- from The Bag Lady Papers
Publisher: New York : Hyperion/Voice, c2010.
ISBN: 9781401341183
Characteristics: viii, 220 p. ;,22 cm.

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bibliotechnocrat Sep 03, 2015

This short book seems to generate a lot of criticism - maybe even anger. A lot of readers think Penney's privileged life somehow makes her unworthy of consideration when her life-savings are stolen by Madoff and she is suddenly faced with starting over. Okay, so she stayed in her Manhattan apartment, and kept her maid.... But she worked hard to get there, and the theft of the life she had - while the SEC buffed its nails - is nonetheless a genuine shock. Penney discovers inner reserves and finds a way to move forward. That's the point of the book, not the address of the apartment she manages to cling to.

e
ecifani
Jun 11, 2013

I just want her to stop complaining.

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