Ex Trader’s Thoughts On Wealth Protection And Money Managers
It seems like every month I see an athlete, musician or actor in financial trouble, despite all the money they made.
Part of that is because many entertainers, despite being extremely talented in one area, are still operating with a consumer’s mentality, instead of a producer’s mentality. A recent study showed that as many as 80% of former NFL players go broke.
Or in the case of Nicholas Cage and many others, they hand their money over to “money managers” and accountants without keeping an eye on their assets and end up in bad deals and having their cash stolen.
Or they get legally married without a prenup. That mistake cost Michael Jordan $160 million in his divorce. Rupert Murdoch lost $1.7 billion, that’s billion with a B.
Or they end up on the wrong side of a lawsuit without having their assets properly protected.
Even saavy entrepreneurs lose cash when they pick the wrong partners or wrong investments. I can think of two friends who have lost a lot of money putting their cash into the hands of the wrong people.
So many guys kill themselves to get rich through their business or skill, and then blow a fortune trying to make that money work for them or not properly protecting that wealth.
The golden rule when it comes to investing money is don’t lose money. That’s why wealth protection is so important and has to come before appreciation.
Check out the video and audio to see why it’s so important to protect your wealth and why you need to be in complete control of your own financial destiny.