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Easiest Way to Lose Money

Discussion in 'Living Room' started by MTR, 9th Sep, 2016.

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  1. MTR

    MTR Well-Known Member Premium Member

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    Easiest way to lose money is to get a divorce.

    My highly successful real estate agent/developer told me today that he will be left flat broke due to a recent marriage breakup.

    When you consider 50% of the population end up in marriage break up its pretty scary stuff.

    How do you recover after this? Be extremely difficult starting over again.

    Perhaps there are ways of protecting your assets, no idea? Best protection, work on your relationship:)






    MTR:)
     
  2. Mick Butterfield

    Mick Butterfield Well-Known Member

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    I am by no means an expert on marriage (4 year anniversary next week:) ) but I think the best investment you can make is in your relationship. Not only is divorce expensive but add in the cost of inefficiency when your energy is being sapped by a poor relationship or not seeing eye to eye with your spouse.
     
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  3. neK

    neK Well-Known Member

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    When investing, it is easy to focus all your energy and forget about your other half..... Simple answer, DON'T!

    Easier said than done though, I spent last weekend (father's day) doing some work on my IP - not all day, still did some father's day stuff, but it can still take a toll on the spouse, especially when there are young kids in the picture.

    At a certain level it is better to throw money at things... especially when you look at the bigger picture, eg your kids are only that age once, divorce is hard on everyone (mentally and financially).
     
  4. kierank

    kierank Well-Known Member

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    If you think divorce is expensive, you should try marriage :) :).
     
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  5. MTR

    MTR Well-Known Member Premium Member

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    Good point, your talking about the darling children right???
     
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  6. kierank

    kierank Well-Known Member

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    Them and one other .... :) :)
     
  7. Biz

    Biz Well-Known Member

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    FTFY
     
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  8. MTR

    MTR Well-Known Member Premium Member

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    I stand corrected.... divorce first, 2. marriage and needy children (limit it to 2 if you must), then 3. mining towns
     
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  9. alexm

    alexm Well-Known Member

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    Those three will do it.

    Perhaps before people get married, they should understand their future spouse. Can they handle long hours, stress, stretching the finances etc. If not then goodbye, move on. Better to cut the cord early than let it drag on.
     
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  10. Phase2

    Phase2 Well-Known Member

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    Easiest way to lose it all? Acting on your uncle's mate's hot tip for No.8 in race 5 at Randwick...
     
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  11. Biz

    Biz Well-Known Member

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    That's a bit idealistic. I'm sure most people would pull the pin early if it was that simple. Over time relationships change, work changes, kids come along, support networks change.

    I'm happy with my lot in life but I don't take it for granted either. Have seen many couple I thought we're happy just call it quits.
     
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  12. Chrispy

    Chrispy Well-Known Member Premium Member

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    Losing a partner has a big effect. Instead of sharing the rents, income etc., it then falls to the surviving partner. When it is a sudden death, there is the shock and the brain does not always work to the best and most effective way of managing the money. If in this situation try and wait 6 months before making any big decisions.
     
  13. oki doki

    oki doki Well-Known Member

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    Maybe my thinking is crooked... But its very profitable to buy houses on sale coz of a divorce!
    One of my relatives bought a house in glen Waverly many years ago for $160k which was worth $180-85k..because of a separation.
     
  14. Sonamic

    Sonamic Well-Known Member

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    Pokies will suck money as fast as you can pump it in. I've watched a mate of mine years ago now smash his WHOLE paycheque through a pokie in under 15 minutes. More than once. Nothing left for rent. Let alone food or even fuel to actually get to work. Evil, evil things.
     
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  15. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    Its a definite challenge being married with small children and puts a massive strain on things.

    Im fortunate to have a wife who signs wherever I point and lets me get on with it all :)

    My track record is pretty good so no reason not to.
     
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  16. geoffw

    geoffw Moderator Staff Member

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    Why get married in the first place?

    Find somebody you hate, and give them all your money.
     
  17. Joynz

    Joynz Well-Known Member

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    If only everyone was so trustworthy. Lots of partners and spouses who
    Hmmm, are you sure your broker is being completely upfront? I find it hard to believe he'd get nothing (i.e. end up penniless).

    Maybe his definition of 'flat broke' is an unusual one?
     
  18. alexm

    alexm Well-Known Member

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    Well it can be simple however people make things complex. Each to their own I guess.
     
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  19. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    I tell that to my wife all the time :p
     
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  20. TMNT

    TMNT Well-Known Member

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    marriage is the first step

    divroce is the nail in the coffin