Anybody ever make a lot of money (millions) and lose/blow it all?
 

I started out around late 90s made a ton of cash from freesites and all sorts of traffic when it was easy to get and in the plenty, and I blew a lot of the money during the stock market crash and non-adult ventures.
Its been 4 years ,but I'm climbing back up to the top again with greater caution into throwing money around like nothing. Now I don't spend a cent without consultation :thumbsup

I don't mind blowing so much, because we all need some kind of lessons up early when we are still young :)

Anybody else been in this situation before?

havent had the luxury, yet.

so you lost millions?

Been wealthy and poor several times... rollercoaster..

I too have not had the luxury.

What are you doing to climb back up? Drop me an email, see below.

done so many times.. its part of my self destructive nature.

But i always come back bigger and better so i guess its ok.

not millions tho.. but decent 2 figure percentages of that ;)

I agree mrthumbs, everytime we take risks and fail, we get a little bit smarter!


I lost close to a million, everytime I think about it I have to go hit something to get it off my mind :)

Things I learned about the stock market -
don't be a Sheep!

About business -
profit is more important then fast growth

Those are some great points.

You are truly blessed if these are lessons you can learn from someone else's mistakes.

Reinvestment is king when running a business is another good one. It's very tempting to go out and blow on fun stuff or catch up on old debt, but quite frankly, if you don't keep the momentum going you could conceivably fall flat on your face.

Set a mark you want to meet of net income that feels comfortable before you start spending.

Just a thought.:thumbsup

Heard too many stories to blow money on stupid things, plus my father has instilled a good saving mentalism.

Oh and to add to that, I dont feel sorry one bit for those who blow all their money away and are left on their ass because it was their own stupidity that led them to nothing.

If you blow all your money away and can rebuild your empire in no time all the power to you, but if you cant then you are an idiot.

you can lose all your money, but it doesnt mean you've lost your memory as to how you made it all in the first place.

What if your methods dont work in todays markets?

let me add some more how things work for me:

i do eveything for the money.. fuck it.. im not interested in computers. websites, porn.. i just want to sit back and
watch telly all day.

So.. why do i work hard? 12-15 hours a day? Doing all these
insane projects? Yeah.. money..

And when money starts to stack up in my bank account
and i see the statements i HAVE money so why should i work?

i become lazy.. and when youre lazy all you can do is.. spend money! And trust me.. ive bought some insane things during those periods..

So the key solution to prevent that is:

Put virtually every penny back in your company.
Make plans and budgets in advance so when the money comes
in you directly HAVE to insert it leaving no excuses to feel rich.

This sounds like captain obvious speaking but its the main reason
for all those roller coaster rides people seem to experience ;)

Never happened to me, but there was a local family, basically your stereotypical trailer trash, that won some huge amount in the lottery, I think 5 million.

He was set for life, but he decided to move to the U.S. and he spent millions setting up some sort of greenhouse business. Was bankrupt within a few years. Pathetic.

Why not just stick the money in the bank and live off the interest? It was all over the news around here. It's amazing he never hung himself.

Easy come, easy go.

There's a lot of meaning to that quote.

Did'nt hit me until the end of last year.

Care to share?

i sat down at the roulette table with $2.5k and through it all on red and won!

before the night was over i had $1.4 million dollars in my pocket

then my fucking brother kicked the wire out of the playstation and i couldnt save it .....

lost it all!!!!!!!!

then it's time to rethink your methods. :winkwink:

At tha casinos! hahh :)

I ran a few offline businesses from the age of 17-22. When I was 21 I sold half of my main company and took on partners nad it got nasty, I walked away from about $1 million in 1989. As it turns out I am very happy I did, it worked out for the best!

i build a complete studio, all digidesign protools based + toppings... do the math ;)

If it answers your question, I went bankrupt on 5 figures MONTHLY income at one time (not millions, but not bad). I learned a lot from that experience. No more wild spending. That's why you don't see me buying Ferrari's and Lambos like many in the biz.

I ran a few offline businesses from the age of 17-22. When I was 21 I sold half of my main company and took on partners and it got nasty, I walked away from about $1 million in 1989. As it turns out I am very happy I did, it worked out for the best!

Nop ! And it's okay like this ! :thumbsup

The biggest mistake I made has been picking pussy over my business. Pussy is the biggest distraction I have ever come across when running a business as well as my spending. It also makes you lose sight of your vision or puts it on the backburner.


Quote from JAN/FEB edition of ESPY magazine:

WHY GOOD BUSINESS VISISION FADES

1. A person enteres their own business - The vision is clear and exciting.

2. Unforeseen obstacles arise - Their vision becomes fuzzy at the edges.

3. They realise that this is all going to take longer than anticipated - The vision fades.

4. Money problems arise - The vision is put aside for a while.

5. Outside influences seem to conspire against progress - The vision is stored away.

6. Continual employee frustrations - The vision is now 'somewhere'. It doesn't seem practical anymore.

7. Those close to you encourage you to try something else - Disillusionment. "What vision?"

Not yet!

Truest shit ever said I must one day buy you a beer.

Can a mod rename this thread to:

People you should not be doing business with.

To the guys asking if old methods work for a comeback,

for me personally, Its all about adapting, Search engine traffic, Link lists , finding new traffic source.
The source has changed but the method hasn't changed much, I have to continually search for new traffic sources, or new ways to get the traffic from the sources.

The conversions have also went down , I remember back then I was in google.com when it first came out
80k uniques a day , bought in 75,000$ a month easy.

Its still very possible now, but not as easy as before.
You just have to adapt to the new enivorments pretty much :)

I haven't,thanx god:glugglug

ive been broke too long to make any stupid risks :winkwink:

:BangBang: Nortel

I've never lost millions, but have made and spent some sizable amounts over the years.

Between 22 - 27 years old used to have a market stall and was making £2,000 a week. Spent it all.

Taught me the lesson to invest a little every week. Was in the position to retire 6 years ago. Had enough money to stop working and go sit on a beach for the rest of my days.

Eva walked into my life and now work harder than ever. LOL

LOL The experience gained is priceless and you never fail until you give up! I have made tens times that over with the experience I learned. Spent a lot, partied, helped my friends and family and travelled more than I can remember.

Well done is better than well said. Here's to those who do! :thumbsup

yeah indeed
people who blast millions are morons
that doesnt happen to semi-intelligent people