My 7 million dollar skid off the rails ….

richard-gal-400I wrote a post showing my journey up the steep hill from $30k in debt to over $7 million in the bank in just 7 years …

… but, there’s no amount of money that you can have in the bank that protects you from excess and market corrections; just check out what’s happened to me over the last 12 or so months:

– I bought $8 Mill of property (my current $2 Mill. house plus my new $6 Mill. home) at the peak of the market using the 110% finance available to me (because of my status as a high net worth individual).

– I bought $300k of new cars (the BMW and the Lexus), again on finance

– I stuck most of the rest of my money in the stock market:

=> Gave $1 mill to my accountant to invest … lost $600k in a few weeks

=> Bought $3 mill of stock in my former employer’s company on the UK stock exchange at 30 pence per share … now worth 7 pence per share … lost 70%+

– Spent excessively on trips to Tuscany, around the world, around the US

– Bought expensive jewelery (that’s me in the picture) … also for my wife

– Picked up a nasty poker gambling habit and lost over $3 Mill to Joe Hachem (the Aussie who won the World Series of Poker a couple of years back) over a series of highly publicized heads up matches


… got it?!

Let my pain be your gain …. read my new Net Worth IQ Profile and weep:

Good luck to you and your families … I quit!

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15 thoughts on “My 7 million dollar skid off the rails ….

  1. I agree with Scott that this is an April fool’s joke. It’s also an important less though. Wants are infinite and income is finite so if you don’t control your wants no amount of money will ever satisfy all of them.

    -Rick Francis

  2. Well done! You definitely had me going til I hovered the cursor over the link and saw the April Fools Dummy! I certainly didn’t expect a great decline like that from you… but there are lessons in your message…

  3. @ Steve – Josh just doesn’t think I’m ‘good enough’ to lose $3 Mill. at the table … wanna play heads-up, Josh? 😛

  4. well, if ya had lost 3 mil at the table , I think you have a head on your shoulders and could find a way to make that back.
    I actually liked the photo of you in the email. I thought, now there is a guy, women would run ya over, to get to him.

  5. Hey AJC,

    I’ll play heads up poker with you for $3M blinds…. zimbabwe dollars of course.


  6. @ Mike – all talk no (real) action, huh? Just remember, you’re messing with a free-wheelin’, high spendin’, personal finance ROCK STAR here, buddy 😛

  7. Pingback: 7million7year’s April Fools Day Joke! « How to Make 7 Million in 7 Years™

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