Life-Ruining Financial Decisions
Money management, investments, and savings. These are all things that people strive to be good at; however, sometimes trying too hard can actually have disastrous consequences. Whether you are a reckless spender or make very cautious financial decisions, one mistake is more than enough to turn your cash into dust.
1. One Very Bad Decision
I won't name any names, but a good friend of mine literally had it all—a successful business, a high-rise apartment, a house down the street with a pool, a sauna, a Casita, Hummer, corvettes, and about $400,000 in Bitcoin—he threw it all away over a “hitman”.
10 years earlier, before I knew him, his business was booming...buthe got greedy. He no longer wanted to split the financial gain with his business partners.
So he hired someone on the dark web to carry out destructive thing across state lines. The only thing was, he communicated everything over text.
All three men, my friend, and the guy they hired, were caught and convicted.
One received life behind bars, and my friend is even up for the ending penalty.
Also, he was only 35 when he was originally convicted.
2. A Very Expensive Water
A friend of mine who is very bad with money bought some sort of water filtration system from a door-to-door salesman. He has to pay something like $300 a month for this filtration system. He was all stoked because it came with a free set of pots and pans.
Fast forward a year. His girlfriend broke up with him, moved out of the house, and he had to sell his home because he couldn't afford to live there. The water filtration system is now sitting in a storage unit and he still pays $300 a month for it because he's on a two- or three-year contract.
We have great water quality in my area.
3. House In, Wife Out
A co-worker I used to have worked every second of overtime he could for several years to save up for a house.
When he applied for a house loan, he based his mortgage payment on all of the overtime he had been working. I tried to tell him that wasn't a good idea but he didn't want to hear it. He ended up divorced a few years later because his wife got tired of him always working.
4. How Much Does Pettiness Cost?
My maternal grandmother bought an 8-plex to avoid having capital gains when she sold her large house.
The apartment complex was in the red and needed a lot of repairs. She hired my father to do them and also be an on-site manager. The place started making money...but things would take a turn for the worse.
My mom, who divorced my dad, was mad that my grandma bought it in the first place. She was even madder that she hired my dad, and was proven wrong about it being a good investment because it was making money.
My grandma was in her 90's and my mom pressured her for years, so my grandma finally sold it. That place is in a high market area and is now worth millions. My mom made a poor financial decision based on petty spite.
