Post From ESI Money
Millionaire Interview #84 Part 2 of 2
August 31, 2018 By ESI
What road bumps did you face along the way to becoming a millionaire and how did you handle them?
I weathered a decade or so of industry downturns which prevented me from ever assuming my day job would be there tomorrow. I made a few key strategic job changes within one employer.
Once I decided my VP didn’t measure up and found myself another job within the company. A month later, my entire former group was laid off, and the function eliminated. Six years later, that marketing function was reinstated.
My husband was laid off in his mid-forties. Although he enjoys being a lawyer instead, his solo practitioner income has never recovered to previous levels. By getting into the commercial real estate side of things, we are able to convert his office rent expense into a cash flow back to us.
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Post From ESI Money
Millionaire Interview #84 Part 1 of 2
August 31, 2018 By ESI
Here’s another interview with a millionaire as we seek to learn from those who have grown their wealth to high heights.
Recaps Note: When did they make their first million - how did they make it - how do they spend it and how do they maintain it? -- As you will see in these interviews some share more or elaborate more than others on their answers – We hope you find their stories interesting with insight and advice that you will use.
My questions are in italics and his responses follow in black. Let’s get started…
OVERVIEW
How old are you (and spouse if applicable, plus how long you’ve been married)?
I will be 63 (in August) and my husband is 64.
When we went to buy an engagement ring, his credit card was denied, so I paid with a check. We will celebrate our 40th anniversary this year anyway.
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KTFA:
Servin29: So You Are Suddenly Wealthy. Now What?
Whether you just received a sizeable inheritance or you just won the lottery, sudden wealth changes people's lives.
1. Call Your Close Family Together. Remember that, no matter what, your family and close friends come first. Call your close family members together, talk about your newfound wealth, and discuss how to proceed with the next step of surviving this major change in your lives. Just like a ship will break apart if it is being pulled in multiple directions, it is important for you and your close family to concur on your family's life goals.
2. Immediately Call an Experienced Attorney and Accountant. Like it or not, your life just got more complicated as a result of having more money. You now have to contend with new tax laws, the risk of losing everything as a result of possible lawsuits, divorce, bad investments, death, incapacity, and any number of other possibilities.
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KTFA:
Tim: wow looks like 26 gave the newshounds sometime off. things that make you go hmmmmm
Don961: no day off ... just not much news of significance being reported ... yet ... does not mean that nothing is going on beyond the articles ... standing by ... watching the paint dry ... imo
StephenMac63: IMO, the Zim is not worthy of the status of a Currency Basket…. Both the Zim and Venezuela have many similarities that contribute to their currency's demise.
Lack of proactive monetary policies, other countries scoff at them due to lack of respect. The currency is a direct representation of both the stability and worldwide acceptance of the country. Zim and Venezuela have neither. Long ways to go for them. Both are Humanitarian Missions waiting to happen. IMO, of course
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Post From IQDCalls Chat Room
Chat Room News Excerpts & Highlights Friday Night 9-21-18
TWWIII Zimbabwe's President Mnangagwa is scheduled to speak at the UN General Debate on September 26, 2018
Trump will also be appearing at the UN Security Council on the same day prior to Mnangagwa.
According to sources, the new official RBZ rate may be announced by Mnangagwa during his visit at the UN.
If Mnangagwa announces the new RBZ rate at the UN, it will trigger the worldwide redemption event (RV) which will eliminate Zimbabwe's national debt.
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