19 Former Millionaires Reveal Shocking Mistakes That Cost Them Everything
Well, I see a lot of stories here, but here’s one that’s a bit different. We moved from the USA to Lebanon after college in order to be with my husband’s family, they were close. Surprise, his parents died before we could get there, his dad a few months before we left and his mom unfortunately passed away during our flight and was buried a few hours before we arrived. This was not a good omen. However, we had moved every last possession with us and were determined to stay nevertheless.
After 30 years and close to retirement, we had several houses, apartments, good jobs with benefits and ample pensions. It had been a tough road and we had really starved at first. Now, we were looking forward to living where we wanted, whether in the USA or Lebanon, and living off of a modest retirement income.
All that was wiped away due to the current economic disaster in the country, worsened by covid but mainly due to financial mismanagement of the country and corruption on a grand scale pretty much unparalleled in modern history.
Everyone in Lebanon wants to emigrate now. There are no renters with money to inhabit our apartments. The lira is worthless, and our pensions are worth almost nothing. We could have spent those years in the US building up 401ks and buying a home.
Not me but my grandma. She started a shoe company, it became one of the biggest retails in the south part of the country. Then as her retiring days got here she passed it on to her kids who ran it to the ground. She came out of retirement and within a year she she got out of debt and made it profitable again then went back to retirement. They ran it back to the ground and even put a morgage on her house. She let it fall and the company no longer exist. She saved her house with her saving and she lived a comfortable retirement from money on properties she onwed.
My parents had built up a multi million dollar company over a couple decades before and during my early childhood. Around 2006 they separated and ran each other dry in court. Then the crash came and bankrupted both of them and lost everything they put years into. Unknowingly recently after my mother’s parents passed away she was able to take a portion of an investment account that built millions from her fathers stock from working in the railroad industry. My father rebuilt his business from scratch repaired his credit and has grown it bigger than it ever was before. By the age of 21 I’ve witnessed my life go from rich to broke to wealthy. I am in a great position in life now for my age but work,plan,live and learn like everything could be again gone in the blink of an eye.
My cousin was a big rapper in the 90s, when I say his name you probably know him or heard his music. It is still used today in the USA.
Anyway he became a millionaire really fast at 20 something years old after being a dishwasher.
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