Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

[⭐ Kardel Sharpeye]

Down But Not Out: From Hedge Funds to Pizza Delivery

Ken Karpman Plummeted From a Six-Figure Salary to Earning $7.29 an Hour

By DONNA HUNTER and GAIL DEUTSCH

 

March 19, 2009—

 

For the first 45 years of Ken Karpman's life, everything was close to perfect.

 

He graduated from UCLA with a bachelor's degree and M.B.A., then got a high-paying job as an institutional equity sales trader. He married his dream girl, had two children and traveled the world on expensive vacations.

 

Over the span of Karpman's impressive 20-year career as a trader, he climbed the company ladder, reaching a salary of $750,000 a year.

 

"Life was good, we were making a lot of money -- and why wouldn't this just continue on?" Karpman said.

 

From all appearances, Ken and Stephanie Karpman were living the American dream in Tampa, Fla., nestled in their 4,000-square-foot home that sits on a golf course. "I had no idea what anything cost in a store," he said. "I'd just put it in the cart and buy."

 

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Karpman was so confident in his good fortune and the strong economy that he left his job in 2005 to start his own hedge fund. To pay for the new business and their standard of living, Karpman quickly burned through $500,000 in savings and, like so many Americans, took a line of credit against his house.

 

But in the reversal of fortune that followed, Karpman was unable to attract investors and was forced to dissolve his hedge fund. He found himself jobless in a job market that had collapsed.

 

In the past, Karpman had found it easy to get a job. It wasn't so this time around.

 

"When I used to go into a job interview, I probably came across as a jerk because I was like interviewing him to see whether this firm was worthy of me," he said. "Now it's kind of like you almost feel like you're coming in with your hat in your hand."

 

Turning to Pizza for Help

 

After a lengthy and fruitless job search, the Karpmans were shocked to find themselves in financial dire straits, with zero savings, hundreds of thousands of dollars in debt and their home in foreclosure.

 

Desperate for quick cash, Karpman tried to find a job bartending but came up empty. Finally, he drove his Mercedes to Mike's Pizza & Deli Station in Clearwater and applied for a job. Mike Dodaro, the owner of the pizza shop, said he was shocked when he read his application but he offered him the job despite some reluctance to hire an over-qualified candidate.

 

Stephanie Karpman said she was more than a little surprised when he came home with his new job, initially saying, "You're kidding me, right?

 

"Delivering pizzas," she said, "Never in my wildest dreams did I think he'd be doing that."

 

Karpman's salary plummeted from six figures to $7.29 an hour -- plus tips -- but it's money that he's grateful to earn, even when it means delivering to neighbors or his old office building.

 

"This whole progression down, it's amazing how many things you say, 'I can't do' and a week later you say, 'Yeah, I could do that,'" he said. "I'm not going to make a career out of this but, until I get something that pays more, this is what I'll do to keep food on the table."

 

The stress has also taken a toll on their marriage. Stephanie Karpman said she didn't want her husband to leave his trader job in the first place and wishes he would have put more in savings.

 

"There's no question of where the fault lies," Ken Karpman said. And when it comes to finger-pointing, "I point it in my direction.

 

"If we didn't have to worry about the lights getting turned off, we can spend more time talking about us."

 

Each day has brought new lows and new lessons in living with a little less "stuff" and a lot more humility.

 

"The worst thing for me, for both of us probably, was, you know, to go to just friends around here, and say, 'Can I borrow some money?'" he said. "Pizza was a step up."

 

'I Need a Couple of Wins'

 

The Karpmans are now on food stamps and a tight budget that doesn't nearly cover their children's $30,000 private school tuition. But thanks to an anonymous donor, the Karpmans children's tuition has been covered through next year and they are deeply appreciative

 

"It's just something that kind of makes you a little misty every time you think about it, that somebody would do this for our kids," he said. "But we'll have a chance at some point to do that for another family."

 

The family's jet skis now collect dust in the garage near the Mercedes, with its broken transmission they cannot fix. The home they will soon lose has fallen into disrepair.

 

Stephanie Karpman has closets full of clothes and handbags she likely won't be able to take with her and is eyeing consignment shops as a place to unload them. She said she has found herself going through her closet and wearing clothes she hasn't touched in years.

 

As Karpman counts every penny he earns, he still hopes he can come back from the financial brink and reclaim a lifestyle he, like so many Americans, never imagined he could lose.

 

"I need a couple of wins," he said, "and I think that, hopefully, it'll mushroom up like it caved in."

 

from ABC.

 

link&vid

http://abcnews.go.com/Business/Story?id=7111098&page=1

 

KEN Karpman bersama keluarga menjalani kehidupan sederhana.

 

Krisis ekonomi di AS membuat seorang eksekutif bergaji Rp 8,8 miliar per tahun jatuh bangkrut. Untuk bertahan hidup, sang eksekutif pun akhirnya menjadi pengantar pizza dengan upah rendah. RESESI di Amerika Serikat memang begitu kejam. Tak hanya raksasa bisnis yang silih berganti bertumbangan. Bagi warganya pun, krisis kali ini benar-benar bisa mengubah nasib mereka 180 derajat. Tengok saja apa yang terjadi pada seorang eksekutif bernama Ken Karpman ini.

 

Selama 45 tahun, Hidup Ken Karpman nyaris sempurna. Lulus dari universitas bergengsi UCLA ( University of California ) dengan gelar MBA, Karpman langsung mendapat pekerjaan sebagai pialang saham. Dia pun kemudian menikahi gadis impiannya, Stephanie, dan dikarunia dua anak. Bersama, mereka telah berkeliling dunia dalam paket liburan yang mahal tiap tahun.

 

Sekitar 20 tahun meniti karir sebagai pialang, Karpman pun naik jabatan dalam perusahaannya. Gajinya turut melonjak mencapai US$750.000 (sekitar lebih dari Rp 8,8 miliar) per tahun. ”Saat itu hidup begitu indah. Kami bisa menghasilkan banyak uang. Entah mengapa situasi itu kok tidak berlanjut?” kata Karpman dalam wawancara khusus dengan stasiun televisi ABC.

 

Dari seluruh sisi kehidupan mereka, Ken dan Stephanie Karpman menikmati benar gaya hidup kelas atas. Mereka tinggal di wilayah elite, Tampa , Florida . Bahkan mereka memiliki satu lapangan golf seluas 400 kaki persegi. Untuk urusan uang, bisa dibilang keluarga ini tidak ada masalah. ”Saya tidak pernah memperhatikan harga saat membeli sesuatu di toko,” ujarnya. ”Saya hanya tinggal masukkan barang apa pun yang saya inginkan ke dalam troli dan membayar berapa pun harganya,” lanjut Karpman.

 

Karpman sangat percaya diri dengan keberuntungannya. Dengan dukungan ekonomi kuat, dia meninggalkan pekerjaannya pada 2005 untuk memulai usahanya sendiri yang sejenis dengan pekerjaan lamanya. Untuk mendirikan perusahaan sendiri sekaligus meningkatkan taraf hidup, Karpman dengan enteng mengeluarkan dana US$500.000 dari tabungannya. Seperti kebiasaan orang-orang Amerika, Karpman juga mengajukan kredit dalam jumlah besar dengan jaminan rumah.

 

Namun nasib berkata lain. Keberuntungan itu berbalik arah. Seiring dengan badai krisis yang menghantam Negeri Paman Sam, Karpman pun tak mampu menarik para investor. Akibatnya, dia dipaksa untuk menggulung tikar perusahaannya. Bahkan kini dia tidak memiliki pekerjaan. Dia pontang-panting memasuki banyak bursa kerja, namun hasilnya pun nihil.

 

Itu tidak pernah dialami Karpman di masa lalu. Urusan pekerjaan kala itu begitu sangat mudah. ”Dulu, ketika saya diwawancara untuk kerja, saya bisa bersikap kurang ajar karena saya seolah balik mewawancara orang bagian HRD apakah perusahaannya memang layak memperkerjakan saya,” ujarnya. ”Kini, seolah Anda harus memelas dan bahkan mengemis-ngemis untuk bisa bekerja,” tambahnya.

 

Mengantar Pizza

 

Setelah satu masa sulit yang panjang dan pencarian kerja yang sia-sia, keluarga Karpman kehabisan uang tabungan untuk keperluan sehari-hari. Bahkan mereka dililit utang ratusan ribu dollar. Rumah mewah mereka pun terancam disita oleh bank. Membutuhkan uang segar dengan segera untuk memenuhi kehidupan sehari-hari, Karpman mencoba menemukan pekerjaan. Apapun akan dilakukannya, tidak lagi pilih-pilih pekerjaan, meski itu menurunkan derajatnya. Ia mencoba melamar menjadi bartender namun ternyata hanya penolakan yang ia dapat.

 

Akhirnya, dia membawa mobil Mercedes-nya ke ke Mike’s Pizza & Deli Station di Clearwater dan melamar kerja. Mike Dorado, pemilik toko pizza itu, mengatakan dirinya terkejut ketika membaca curiculum vittae Karpman. Untuk menjadi pengantar pizza dari rumah ke rumah tak perlu harus bergelar MBA dan berpengalaman sebagai manajer pialang saham. Dengan kata lain, Karpman tergolong over-qualified (bobot pendidikan dan pengalaman kerja terlalu tinggi untuk posisi kerja yang dia lamar). Bagaimanapun, yang ada hanya lowongan sebagai pengantar pizza.

 

Bahkan, sang istri Stephanie Karpman lebih terkejut lagi saat Ken tiba di rumah dengan pekerjaan barunya. ”Kamu tidak bercanda, kan ?” kata Stephanie. ”Mengantarkan pizza. Tidak pernah terpikirkan olehku, bahkan dalam mimpi terliarku sekalipun untuk melakukan itu,” lanjutnya.

 

Gaji Karpman terjun bebas. Dari enam digit per jam menjadi hanya USD 7,29 (RP. 85.000) per jam plus tips, satu angka yang terbilang sangat kecil untuk ukuran AS.

 

Namun itu adalah uang yang sepatutnya ia syukuri. ”Ini adalah proses terjun bebas, luar biasa bagaimana begitu banyak hal yang Anda katakan, ’saya tak bisa melakuan itu’ untuk menolak karena gengsi, tapi seminggu kemudian anda katakan, ’Ya... saya bisa melakuan itu,’” ujarnya.

 

”Saya tidak akan meniti karir di bidang ini, namun akan mendapatkan sesuatu yang lebih di masa depan, itu yang akan saya lakukan untuk tetap menjaga agar dapur tetap mengepul,” lanjutnya.

 

Tekanan ini memang sempat memberi sedikit dampak pada pernikahan mereka. Stephanie mengatakan dirinya tidak ingin suaminya meninggalkan pekerjaan sebagai pialang dan berharap suaminya itu punya tabungan yang lebih. Tapi itulah fakta yang harus diterimanya. ”Tidak perlu bertanya di mana letak kesalahannya,” ujar Ken Karpman. Dan ketika harus menunjuk kambing hitam, ”Saya akan menunjuk ke arah saya,” tegasnya.

 

Dari pengalamannya ini, Karpman menyadarai, setiap hari membawa satu pelajaran baru dalam kehidupan dengan sedikit harta dan lebih banyak kerendahan hati. ”Pizza adalah langkah maju,” tandasnya.

 

Saat Karpman menghitung setiap sen yang dia terima, dia masih berharap bisa kembali ke posisinya yang dulu dan kembali ke gaya hidup papan atas yang sekan tak bisa lepas dari tangan. ”Saya butuh beberapa kemenangan,” ujarnya. ”Semoga, itu akan segera kembali,” lanjutnya

-INDO by GEO .FK

 

I hope we all learn!

 

K

[William1713006271]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Ah, a nice lesson of humility and risk control.

 

Thank you K.

 

Regards,

[lerxst]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Something that always bothered me with these reports. If this guy were a trader, even if he were to quit or get laid off from his company job, with the 500K he has saved up. If no investors come on, shouldn't he be able to take that money and just trade it himself? The profits at 20% a year would be pretty good for his family.

[William1713006271]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Lerxst, I think he can't trade at all or he is just a human at the very best.

 

Human are controlled by emotions, and when we trade our own money, we tends to go crazy.

 

Afterall, if he's such a good trader, even before he quit his job he would already have 1 or 2 investors.

 

With that said, it's still a good story.

 

Regards,

[xanlamin]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

=)) =)) =)) =)) =)) =))

[rhv]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

sucks to be him.

[capitalone]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Oh dear! Yes, I hope we all learn from this.

[camisa]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

never start an hedge fund you guys! =))

[xtclove]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

this just proves that wealth preservation is the hardest. . kinda hard to go down from a six figure income. It also proves that you can't just be lucky all the time. You need to know how is it to be poor.

[cgldsmth]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

excellent lesson

[cgldsmth]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

aim only to earn enough to survive

[cgldsmth]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

and feed the kids, because time is much more important than money

[jason_za1]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

So many going through this now

[dr0o69]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

thank you indo-investasi... now i become a better trader...

Edited August 7, 2010 by dr0o69

[Cadbre]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

A lot of invester's/traders have a similar story unfortunately,

Number 1 rule -Manage your risks! Don't put all your money in one basket -Diversify, spreading your risks..

[nayansavla]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

wow what an emotional story

[maurice_nem_songo]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

terimakasih atas artikelnya brotha, semakin semangat belajar forex dan lebih berhati2 dalam mengelola duwit.

[dbestfx]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

yeah..its really good lesson.

[Banky]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Well Be good to people on your way up 'cos you may meet them on your way down...I hope Karpman was good on his way up....

[cadoo]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Yeah, this was on the news and he got several job offers because of it. Not sure if he got a better job or not tho.

[pekku]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

If you want to mortage your house for investing, you better have a fail-safe system or you probably lose your house.

[pacohernandezg]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

You can lose money and earn money again, and lose money again and earn again, but every minute you lose, does not return.

[JUINERTY2]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

I like this story, must remember during this tough times

[learningfx]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

A good story for all potential trader to learn especially those

who are planning to go full time, make sure that you are having consistently

result for at least 6-12 months in up and down market before going full time.

 

:-bd

[KevinC1713006039]

Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7

 

Its not about how much you earn, is about how much you spend