Marketplace®

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Season 10Sep 12, 2024

Hired, fired, can’t retire (updated rerun)

Rebecca Danigelis put all her earnings into her kids’ education. But as one son’s career took off, hers started to crumble.

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Sian-Pierre Regis and his mother, Rebecca Danigelis.
Sian-Pierre Regis and his mother, Rebecca Danigelis.
Duty Free Film

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We’re looking back at one of our favorite Season 6 episodes, about a mother and son who find themselves in dire financial straits. We’ll follow up on how they’re doing now.

Retirement was never really something Rebecca Danigelis thought about. She’d always prioritized her two sons. A single mom, she sent her boys to a private Catholic school, even when tuition took up much of her income from working at a hotel.

“It was very, very hard,” Rebecca said. “I never really involved them in my worries. I’d always make them think everything’s fine to make them feel secure.” 

It seemed like all her hard work paid off when her son, Sian-Pierre Regis, got into a good college. From there, liquidating $20,000 from her retirement to help cover tuition felt like an easy decision, since she never planned to stop working anyway. At the time, Sian-Pierre didn’t know much about 401(k)s. He wasn’t aware that cashing out early would result in penalties and taxes.

“It was just kind of like, OK, this is the way that you access money,” Sian-Pierre said.

But in 2016, several years after Sian-Pierre graduated and just as his journalism career was taking off, Rebecca was let go by the hotel. She was given two weeks’ severance. Suddenly, Regis had to figure out how to help his mom get back on track after losing her career.

As they considered her options, Sian-Pierre set out to return the investment his mom had made in him all those years before. That meant becoming roommates.

Now, two years later, Reema calls up Sian-Pierre and Rebecca to see how they’ve been doing.

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