How do you burn through that kind of money?
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That family has a history of being taken advantage of by really awful people.
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Squandering $100 million in 30 years would likely involve making impulsive and irresponsible financial decisions that do not align with long-term financial goals.
Here are a few examples of how someone might squander a large sum of money:
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Reckless spending: Going on excessive shopping sprees, buying luxury cars, yachts, private jets, and other extravagant items without considering the long-term financial consequences.
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Gambling: Spending large amounts of money on gambling activities, such as at casinos or on sports betting, without a clear understanding of the odds and potential risks.
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Scams or Ponzi schemes: Falling prey to fraudulent schemes or scams, such as Ponzi schemes, that promise high returns but ultimately result in significant financial losses.
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Poor investments: Investing in risky or poorly researched ventures, such as start-ups or new technology without proper due diligence, can result in substantial financial losses.
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Lack of financial planning: Not creating a budget, financial plan or not having a financial advisor, can lead to poor financial decision making and squandering of the funds.
It's important to remember that money is a valuable resource and should be handled responsibly. If you are lucky enough to come into a large sum of money, it's important to take the time to carefully consider your options and make responsible, long-term financial decisions.
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Except for a photo in her obit, I never saw a pic of her smiling in my entire life. And the obit photo showed her smile as so horribly grinchy that she looked like she wanted to bite your head off.
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Except for a photo in her obit, I never saw a pic of her smiling in my entire life. And the obit photo showed her smile as so horribly grinchy that she looked like she wanted to bite your head off.
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An attorney friend of mine told me of a divorce where the spouse was to receive a bit more than 20 million. They estimated she'd run through that in a couple of years if left unsupervised. She spent so much with Nieman Marcus that the company flew her to their booth at the Super Bowl. As an example of her spending nature, she spent over $100k on personal FedEx as she FedExed her laundry to a favored cleaner. Mind you, this was 20 years ago when $100k still seemed like a decent amount of money. The court structured her settlement in an effort to try and reign in her spending.
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An attorney friend of mine told me of a divorce where the spouse was to receive a bit more than 20 million. They estimated she'd run through that in a couple of years if left unsupervised. She spent so much with Nieman Marcus that the company flew her to their booth at the Super Bowl. As an example of her spending nature, she spent over $100k on personal FedEx as she FedExed her laundry to a favored cleaner. Mind you, this was 20 years ago when $100k still seemed like a decent amount of money. The court structured her settlement in an effort to try and reign in her spending.
@kluurs said in How do you burn through that kind of money?:
An attorney friend of mine told me of a divorce where the spouse was to receive a bit more than 20 million. They estimated she'd run through that in a couple of years if left unsupervised. She spent so much with Nieman Marcus that the company flew her to their booth at the Super Bowl. As an example of her spending nature, she spent over $100k on personal FedEx as she FedExed her laundry to a favored cleaner. Mind you, this was 20 years ago when $100k still seemed like a decent amount of money.
Interesting. How old was the spouse when she got married, and how old was she when she got divorced?
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@kluurs said in How do you burn through that kind of money?:
An attorney friend of mine told me of a divorce where the spouse was to receive a bit more than 20 million. They estimated she'd run through that in a couple of years if left unsupervised. She spent so much with Nieman Marcus that the company flew her to their booth at the Super Bowl. As an example of her spending nature, she spent over $100k on personal FedEx as she FedExed her laundry to a favored cleaner. Mind you, this was 20 years ago when $100k still seemed like a decent amount of money.
Interesting. How old was the spouse when she got married, and how old was she when she got divorced?
