HOW TO DESTROY WEALTH---DO YOU AGREE WITH NICHOLAS MASLANEY?

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Nicholas Maslaney

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Rural Real Estate/Stock Market Investor, Author (2002–present)

What are some good ways of destroying wealth?

***Marrying the wrong person and for the wrong reasons.***

• Many people want to marry the hottie, but it eventually comes at too high of a price for many. That price is different for everybody. It usually comes at a steeper cost that many can’t afford or handle.

***Marrying too young or marrying an immature person who isn’t ready for marriage and commitment.***

• This is true for both men and women, but it is especially true for women. Women get sucked into marrying the immature boy/man who never matures. He is stuck in high school forever.
• She says, “he was my high school sweetheart”. “He was so cute in high school and he always promised me he would marry me.” “He can’t keep a job and is carefree, but love is all that matters.”

***Narcissistic behaviors in any area of life***

• The narcissists will buy houses they can’t afford to keep up with their neighbors, fellow workers, or family members. They will endanger their family and other family member’s finances.
• The narcissists will start businesses that fail and lose their money and other people’s money. Instead of looking in the mirror, they will start other businesses and repeat the same mistakes with other sucker’s money.
• The narcissists will spend money on the dumbest things instead of saving or investing it. Instead of delaying gratification, they will over charge their credit until they hit rock bottom. In fact, many times they will bring down other people in their circle.

***Trusting the wrong people with their own or their family finances.***

• On the advice of a person they knew, people bought many interest only loans a few years ago that reset to a higher rate. This action endangered their finances and created a cash flow crisis when it couldn’t be paid back. Many people lost their homes.
• Some governments bought mortgage back securities on the advice of a person in a fancy suit and a certification. When people couldn’t pay the mortgage, the bonds could not pay interest to some governments. It created a huge snowball of defaults that affected people downwind of it, including some governments.
• Many people will incorrectly trust attorneys, CPA’s, or other family members to manage their finances. Instead of asking tough questions of these fiduciary’s, they bury their head in the sand and ignore the fleecing of estates. They have a permanent blindfold over their eyes.

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