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Money and Finances
Reply to "Did your family talk about money growing up?"
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[quote=Anonymous]Yes, basically horrendous mistakes. My parents were UMC if not some of the wealthiest in our small town at the time. 1) Owned multiple properties - did one 1035 exchange but then got smacked with a huge capital gains tax bill from selling their primary hone and not buying one of equal value. 2) Rental home was a crazy money pit and drama and they don't think they ever made money on it 3) They always carried 5 figure credit card debt 4) Dad cashed out his retirement, forged my Moms signature to play in the stock market and lost 6 figures 5) Business partnership went south and he walked away with no money 6) Wasn't particularly successful in business Every single thing on this list I've avoided or done better based on their mistakes. [/quote]
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