by BLACK ENTERPRISE Editors
May 19, 2025
Losing everything can happen without warning
By Grace Vandecruze
The afternoon I stood across the street and watched our Brooklyn home burn down, I witnessed more than the destruction of property — I saw the beginning of my financial awakening. As a college student and one of seven children, my mother’s words cut deeper than the flames: “We don’t have insurance. None.” That moment taught me the most expensive financial lesson of my life: preparation determines preservation.
I learned that losing everything can happen without warning — and without a safety net, rock bottom has no floor.
Suddenly, we were a family of nine without shelter, income, or options. We entered a smelly, overcrowded homeless shelter. I remember the shame I felt calling it home and the unbreakable promise I made to myself: This is a chapter, not my story’s end.
In today’s volatile economy, many are experiencing their own financial fires. Mass layoffs. Bank collapses. Market downturns. People who’ve done everything “right” are waking up to news that their company is restructuring, their 401(k)s have plummeted, and the job they believed was secure has vanished.
It’s not just challenging — it’s financially traumatic. And I understand this trauma intimately.
From those desperate days in that Brooklyn shelter, I channeled my determination into action — earning my CPA, graduating from Wharton Business School, and ultimately becoming a trusted investment banking expert who has advised on more than $25 billion worth of insurance industry transactions. Today, I’m the founder of Grace Global Capital, serve on multiple corporate boards, and have even facilitated a major sale to Warren Buffett himself. Just as I’ve summited 25 mountain peaks across three continents — including Mt. Kilimanjaro — I’ve climbed from sleeping in a New York City homeless shelter to ringing the opening bell at the New York Stock Exchange through unwavering resolve and calculated steps forward.
If you’ve lost a paycheck, watched your emergency fund evaporate, or find yourself calculating and recalculating how to stretch your resources, you’re experiencing your own version of a financial fire. It may feel like the ground is crumbling beneath you, but I am living proof that you can rebuild stronger than before. Here are the wealth-building essentials that transformed my journey from homeless to millionaire:
1. Make the Hard Financial Decisions Early — Cut Losses, Not Hope
When everything went up in smoke, denial wasn’t an option. We faced reality immediately, which taught me this wealth principle: Your first loss is your best loss.
FINANCIAL TIP: Create a 30-day financial triage plan. If your income has disappeared, implement a zero-based budget immediately, where every dollar has a specific purpose. Cut expenses by at least 30% within the first week. Research shows that those who reduce expenses within 14 days of income loss preserve twice as much wealth as those who wait 30+ days. Prioritize keeping assets that appreciate (education, essential property) over depreciating liabilities (luxury items, subscriptions). Get more strategies in my free Uplift guide to have a financial comeback.
2. Never Let Circumstances Define Your Financial Identity
My grandmother’s wisdom sustained me: “Never plan based on circumstances.”
In that homeless shelter — a place that felt like financial rock bottom — I made a decision that changed everything: This is my situation, not my destination. I refused to internalize poverty as my financial identity.
FINANCIAL TIP: Create a “wealth vision statement” with specific numbers and timeframes. While managing current hardship, allocate 30 minutes weekly to high-value financial planning. Even with limited resources, begin building credit through secured cards or becoming an authorized user on a family member’s account. Your credit score is your financial reputation — protect it fiercely during transitions.
3. Develop a Dual Income Strategy — Survive Now, Thrive Later
In that shelter, I created a two-track plan. Track one: immediate income. Track two: long-term wealth building. I tripled down on education while working part-time. I leveraged every free resource — soup kitchens, donated clothes — turning humility into opportunity.
FINANCIAL TIP: Apply the 70/30 income rule during recovery: Use 70% of earned income for immediate needs, and reserve 30% to rebuild your financial foundation. Create multiple income streams immediately — even small ones. Identify three marketable skills you can monetize within 48 hours without additional certification. The gig economy offers fast onboarding for delivery services, freelance platforms, and virtual assistance that can generate cash flow while you rebuild your career.
4. Strategic Vulnerability: When Asking for Help Becomes an Investment
This season will challenge your pride. But I learned quickly — financial survival outweighs saving face.
Standing in line at a soup kitchen taught me something powerful about wealth building: Sometimes receiving creates opportunity for future giving. Every resource accepted became fuel for my future financial impact.
FINANCIAL TIP: Create a “resource maximization plan” targeting specific forms of assistance with clear exit timelines. If unemployed, immediately apply for all benefits — each day of delay costs an average of $400 in lost benefits. Simultaneously, build your professional network by requesting 15-minute virtual coffees with three connections weekly. Research shows that 65% of professional rebounds come through secondary connections, not primary ones.
5. Build Wealth Resilience Through Mental Capital
Riding the train to school each day, I memorized Maya Angelou’s “And Still I Rise.” I studied wealth patterns during my commute. I programmed my mind with financial truths that my environment couldn’t provide.
FINANCIAL TIP: Financial trauma affects decision-making. Combat this by implementing a 24-hour rule before making any financial decision over $100. Track your financial progress daily — even increases of $5 matter psychologically. Studies show that people who document small financial wins are 58% more likely to achieve larger financial goals. Convert anxiety into action by learning one new wealth-building concept daily.
I know what it’s like when your financial foundation burns down completely. I’ve navigated both trauma and transformation.
If you’re facing financial devastation right now, understand this isn’t your financial finale. Your comeback begins the moment you shift from victim to visionary. While you may not see the summit from the valley, every strategic step moves you closer.
Today, I help others climb. As a Wall Street executive, trauma-informed wealth expert, and founder of Grace Global Capital LLC, I’ve transformed that painful experience into purpose. After putting myself through school and earning my MBA in finance from The Wharton School, I’ve advised over $25 billion in financial transactions, advised Fortune 100 firms, and teach the same wealth strategies used by billionaires.
Remember this: Wealth isn’t just for the privileged few — it’s a human right. Your current financial situation is a moment, not your financial destiny. And I’m living proof that no matter where you start, with strategic action and unwavering belief, you can rise beyond what you’ve lost to create what you truly deserve.
Grace Vandecruze is a Wall Street executive, trauma-informed wealth expert, and founder of Grace Global Capital LLC. She is the author of “Homeless to Millionaire” and creator of the Wealth Wisdom Accelerator course, empowering others to transform financial trauma into lasting wealth.
Get more actionable strategies in my free guide, UPLIFT: The Financial Comeback Guide With the Exact Steps that Took Me from Homeless to Millionaire Get your free copy at https://upliftwithgrace.com/
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