Amazing Loss of Money

  • conservativej...

    Posts: 2465

    Nov 30, 2010 12:05 AM GMT
    Below is a link that tells a story about a family that received $14 MM as their share of a business that sold.

    http://finance.yahoo.com/banking-budgeting/article/111434/familys-fall-from-affluence-is-swift-and-hard

    You see such a story from time-to-time. I'm always amazed that people cannot use such a windfall to build long-term income.
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    Nov 30, 2010 12:10 AM GMT
    With the lifestyle I live, I could invest most of that and EASILY retire.
    Then again, I'm not impressed with luxury cars. A nice bike and an Extra 300S and I'm set. icon_wink.gif
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    Nov 30, 2010 12:53 AM GMT
    They invested in real estate from what I understand, which historically is a good idea. However, they bought high, which is not a good idea, especially in a hot market. Bubbles burst eventually, and when the US one popped, it could be heard around the world.

    -Doug


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    Nov 30, 2010 3:23 AM GMT
    paulflexes saidWith the lifestyle I live, I could invest most of that and EASILY retire.
    Then again, I'm not impressed with luxury cars. A nice bike and an Extra 300S and I'm set. icon_wink.gif




    Same here .....icon_biggrin.gif