“From Savings to Snafus: 69 Cost-Cutting Decisions That Went Horribly Wrong!”
Same story, the dad worked his rear off, wore the same crappy clothes at work (he owned a bunch of restaurants), barely spent a dime on himself. He died in a robbery from a gun shot wound, probably wearing the same crappy grease-covered jeans and khaki shirt he did for the better part of the decade before that.
My friend and his family sold all the restaurants and the strip mall since they didn’t really want to manage it (understandable, none of them knew anything about the businesses nor cared to be involved).
They went on a spending spree RIGHT AFTER, it was sick. My friend bought a condo in NYC with cash (he couldn’t stop bragging about how he bought it with his own hard earned cash…). Unfortunately, he lost his job during the .com bust, wouldn’t settle for something “beneath him,” He couldn’t keep up with the HOA fees, ended up extracting equity. He no longer owns the condo.
Sad story, the dad spent decades building his fortunes from scratch, and it was essentially all blown away within a decade. They aren’t poor by any means now (the both have 6 figure jobs). I have no idea how much money they inherited, it had to be at least 3 million since they each bought 3 condos in NYC, Boston. The sister as far as I know still owns the condo she bought with the inheritance. She did also marry a rich Wall St guy as well (they are both Wall St yuppies making more money than 10 of us put together). So I guess in the end, the dad was successful in that he raised 2 financially well off kids, but unfortunately didn’t seem to get to enjoy the fruits if his own labor.
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