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Old 08-12-2019, 10:31 AM
 
Location: southern california
55,905 posts, read 74,949,733 times
Reputation: 48471

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Sure I got one but it’s not popular
The popular ones get made into Eddie Murphy movies
People like the quick buck version -not the blood, sweat and toil and scrimping and saving with plenty of failure and years of dead end effort stories
That stuff makes them uncomfortable

Last edited by Huckleberry3911948; 08-12-2019 at 10:48 AM..
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Old 08-13-2019, 05:24 AM
 
2,159 posts, read 634,380 times
Reputation: 3045
Quote:
Originally Posted by tommy64 View Post
He even lost his dog in the bankruptcy.
You can't make this stuff up!!!!

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Old 08-13-2019, 12:42 PM
 
Location: Ontario, NY
2,744 posts, read 6,268,394 times
Reputation: 2805
Quote:
Originally Posted by boxus View Post
Same familiar story...drugs. Dude lost it all, damn shame.
I recall a story a co-worker told me, his next door neighbor got hooked on drugs and was selling everything to support his habit. He made a deal to buy the neighbors boat for $8,000, it was a steal for him, the boat was worth at least twice that much. Anyway, he was at work and his neighbor ran out of drugs and sold the boat to someone for $2,000 cause he needed money for drugs NOW! If he would have waited a few hours he could have gotten 4 times as much, but that's not how drug addicts are, they want there fix NOW, not a few hours from now. This is why these people are so dangerous, they will anything for there next high, steal, rob, murder, sure they might feel bad about it later, at least until they need there next fix.
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Old 08-13-2019, 04:48 PM
 
Location: Knoxville, TN
1,330 posts, read 621,354 times
Reputation: 1833
Quote:
Originally Posted by TechGromit View Post
I recall a story a co-worker told me, his next door neighbor got hooked on drugs and was selling everything to support his habit. He made a deal to buy the neighbors boat for $8,000, it was a steal for him, the boat was worth at least twice that much. Anyway, he was at work and his neighbor ran out of drugs and sold the boat to someone for $2,000 cause he needed money for drugs NOW! If he would have waited a few hours he could have gotten 4 times as much, but that's not how drug addicts are, they want there fix NOW, not a few hours from now. This is why these people are so dangerous, they will anything for there next high, steal, rob, murder, sure they might feel bad about it later, at least until they need there next fix.
I know someone who traded her Jeep for pain pills.
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Old 08-13-2019, 04:52 PM
 
Location: Wonderland
45,659 posts, read 36,714,338 times
Reputation: 64772
Quote:
Originally Posted by BigCityDreamer View Post
How can a man who spent his entire life building up a business have no clue that his son is incompetent to handle it?

This kind of thing boggles my mind.
My dad did this with my youngest brother. It took ten years for my youngest brother to basically destroy the business, but he did it and in the end my dad had to fire him, but it was too late.

And yes, it boggled my mind too.
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Old 08-13-2019, 04:58 PM
 
Location: Knoxville, TN
1,330 posts, read 621,354 times
Reputation: 1833
Quote:
Originally Posted by KathrynAragon View Post
My dad did this with my youngest brother. It took ten years for my youngest brother to basically destroy the business, but he did it and in the end my dad had to fire him, but it was too late.

And yes, it boggled my mind too.
Some people just don't have what it takes. I have a buddy whose Dad came from nothing, and built up one of the most successful accounting firms in town...has A-list clients, all the major luxury car dealerships, etc. Completely groomed his son to take it over. I'm talking major big bucks.

Son says he didn't want it but it's really just because he's kind of a fkup.

Now, I'm far from perfect but if I had family that had a thriving business to leave to me, I would make it work and not be stupid.
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Old Yesterday, 11:14 AM
 
1,931 posts, read 773,360 times
Reputation: 3192
No, but anyone who could afford college while growing up in a lower middle class family and then get a degree can easily make 6-figures if they picked the RIGHT career. They just have to be wiling to spend money upfront on their education by taking out loans, and then hope to get a job that'll pay off all those loans. You also need a work ethic, self motivation, and self confidence. I know people who've done this.
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Old Yesterday, 05:55 PM
 
Location: USA
1,077 posts, read 422,258 times
Reputation: 2994
Not exactly riches to rags since it was family money but....

I grew up with a guy who had it all. Family had money, dad was an attorney. Grandparents were the richest in the county. Dood had looks, brains, was a great basketball player in high school and he was charming.

He went to Univ. of Virginia for his undergrad and law school. Drove off from our little town in a brand new car and lacked for nothing in college. Clearly, he was being groomed to take over Grandaddyís empire. I guess school, the Greek life and money under-covered a fatal flaw: alcoholism.

He never passed the bar exam and passed away before his 56th birthday. He worked in the family dealership but not in a real position of responsibility. After the died, I called his number attempting to reach his mom, it went to his voice mail. Iíll swear that Pís voice sounded more like an 85 year old man than a 55 year old guy.

That one hurt. He was truly a good guy when I knew him....a friend to everyone. What a waste.
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Old Today, 09:05 AM
 
Location: Living on the Coast in Oxnard CA
15,815 posts, read 26,936,057 times
Reputation: 20495
I know of several people that built wealth and then lost it. Almost all of them became wealthy again.

I have some close friends that I have known since the early 80's. They had three homes and some hillside property in Malibu. They owned a large business. Making money was something that they were good at. They ended up losing the business and the homes were sold. They moved to the beach in Oxnard, CA. They were struggling for maybe 4 or 5 years. Finally their accountant asked them when they were going to become wealthy again. They got out of their funk and built another business.

What I learned from them is that wealthy have learned how to build wealth. Many of them can do it over again. For those that are given money, they have not learned how to build wealth.
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