I no longer lose money!!

by **HezekiaH** Sun Nov 20, 2011 6:27 pm

With so much talk of the Rv happening soon I thought I would give some words from by personal experience concerning money.
In the last few years I have made and lost millions of dollars each year in both my personal and business life.
Here are the changes I have put in place in the last year. I no longer lose money.

1)
I have set up a committee of 3 ( myself,a chartered accountant and my
lawyer)to handle my finances. I no longer made business or investment
decisions regarding money on my own.

2) If you want to borrow
money from me and that includes family see my accountant. If he says
yes,then you can see my lawyer and make the proper arrangements to
borrow and pay the funds back.

3) If you want to sell me an
investment see my accountant. If he says yes. Then you can pay my lawyer
to do a risk analysis and if it passes,then they tell me about it.

4) If there is no hard asset to protect my funds I don't invest.I can no longer afford to lose money.

5)
I now make sure to have more funds in cash flowing businesses then in
non producing hard assets like land. A rock is a rock is a rock and when
lean times come you can own millions in real estate and live month to
month dirt poor because you have no cash. I don't want to do that again.

6)It
is easy to lose the value of money when you are making millions. Set
yourself a budget for toys and fun. Don't over spend on it and remember
you can't buy real wealth.

7) Always look after yourself and family first.

8) The good times won't always be here, plan for the difficult times in your future.

9) Always acknowledge God and pay him first.He can take it away just as fast as He gave it.

I have another 10 or 11 points but I will save them for another day.

by Guest Sun Nov 20, 2011 6:33 pm

Oh, great wise man, that was a great post and excellent advise. Did you get caught up in the housing bubble? I hope not. God Bless AJ

by **clayf** Sun Nov 20, 2011 6:51 pm

HezekiaH wrote:With so much talk of the Rv happening soon I thought I would give some words from by personal experience concerning money.
In the last few years I have made and lost millions of dollars each year in both my personal and business life.
Here are the changes I have put in place in the last year. I no longer lose money.

1)
I have set up a committee of 3 ( myself,a chartered accountant and my
lawyer)to handle my finances. I no longer made business or investment
decisions regarding money on my own.

2) If you want to borrow
money from me and that includes family see my accountant. If he says
yes,then you can see my lawyer and make the proper arrangements to
borrow and pay the funds back.

3) If you want to sell me an
investment see my accountant. If he says yes. Then you can pay my lawyer
to do a risk analysis and if it passes,then they tell me about it.

4) If there is no hard asset to protect my funds I don't invest.I can no longer afford to lose money.

5)
I now make sure to have more funds in cash flowing businesses then in
non producing hard assets like land. A rock is a rock is a rock and when
lean times come you can own millions in real estate and live month to
month dirt poor because you have no cash. I don't want to do that again.

6)It
is easy to lose the value of money when you are making millions. Set
yourself a budget for toys and fun. Don't over spend on it and remember
you can't buy real wealth.

7) Always look after yourself and family first.

8) The good times won't always be here, plan for the difficult times in your future.

9) Always acknowledge God and pay him first.He can take it away just as fast as He gave it.

I have another 10 or 11 points but I will save them for another day.

[i]Do you actually hear yourself..I dont care about your story and your millions,do something worth doing,unreal scratch

by **Kevind53** Sun Nov 20, 2011 7:02 pm

Wise advise ... no matter how good the cause no matter how good the intent, if you don't take care of yourself and your loved ones first, you will not be in a position to anything worthwhile. Selah

by **Terbo56** Sun Nov 20, 2011 7:03 pm

Clayf- He's only trying to explain to people how not to lose money, and the way it sounds, he learned alot from his previous experience of, not managing his money correctly in the first place,and honestly, it may be something you'd want to pay attention to, SOMETHING WORTH DOING! - Terbo

by **dinarstar** Sun Nov 20, 2011 7:19 pm

This is excellent,plain and simple,thank you.

by blueeyes Sun Nov 20, 2011 7:22 pm

Wish I had this advise before I lost a wad of money. Great advise. Thank-you HezekiaH - blueeyes

by billcon Sun Nov 20, 2011 7:33 pm

Excellent advice - simple and straight forward - perfect timing consider the posibility for many people who may acquire large

amounts of money from the RV -- for the first time in their lives and not have a real clue on how to protect their new found

wealth -- Thank you for your post. Billcon

by davidpg Sun Nov 20, 2011 8:45 pm

Very good advice. Sounds like you have paid for it via the school of hard knocks. Thanks for sharing you hard earned wisdom with us. Oh and Clay you might want to research how many lottery winners wind up broke after they win. The stories are heart breaking but they all lived your advice.

by **Terbo56** Sun Nov 20, 2011 8:49 pm

Davidpg-

Terbo

by dinardiva Sun Nov 20, 2011 8:55 pm

Excellent advice and I wish everyone lots of wisdom in handling their money when it arrives at their doorstep. If you receive it first, I congratulate you and wish you more. It makes me feel wonderful that someone has succeeded and is succeeding.

Very Happy

by OKie_GEM Sun Nov 20, 2011 9:27 pm

I have an excellent accountant myself that I send those people to. Her name is Hellen Waite. So. is you are wanting to borrow from me, I send them to her. Smile

OKie_GEM

by SEBtopdog Sun Nov 20, 2011 10:46 pm

davidpg wrote:Very good advice. Sounds like you have paid for it via the school of hard knocks. Thanks for sharing you hard earned wisdom with us. Oh and Clay you might want to research how many lottery winners wind up broke after they win. The stories are heart breaking but they all lived your advice.

davidpg: You are so right. In fact it happens so often there is a name for it: Sudden Wealth Syndrome (SWS). Most of the big lottery winners end up unhappy and many are broke in a year or so.

HezekiaH's advice is sound. In fact, it's great advice even for someone who isn't filthy rich. (Oops, did I say that out loud? How crass of me )

by zerhourwriter Mon Nov 21, 2011 12:02 am

Great stuff... Great post.

by 1alaskan Mon Nov 21, 2011 10:33 pm

Good advice,

For those folks who say not me, well, we pray you are correct. This investment took no effort to get into, but it will take effort to hang on to it.

Be wise, learn all you can, and hire good pro's to help.

I no longer lose money!!

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