SlowLane and Treacherous relationships can destroy your wealth?

[santa]

I've been listening to Gene Simmon's business audiobook recently. It's certainly pretty unique and controversial, I definately don't agree with stuff in there but it has refreshing insight into his thought processes.

One thing he discusses ALOT- is how making the wrong relationship choices can destroy any financial wealth you build. And how spouses can legally -sometimes maybe rightfully but also unfairly- grab parts of your wealth. He goes into detail about protecting yourself from this -arguably to excessive levels.

One UK entreprenuer who's books have been helpful for me is Duncan Bannatyne who is reportedly worth over £400, which is over 1/2 a billion in dollars (he's on the UK's version of Shark Tank- called Dragons Den- which is better in my opinion- though being from the UK I'm a bit biased!; here's two full episodes, someone has uploaded loads of them to youtube,see if they're up your street and enjoy them while they're there... Dragons Den UK - Season 6 - Episode 7 - YouTube Dragons Den UK - Season 3 - Episode 6 - YouTube)
Anyhow just came across some old stories on him concerning his second divorce and the financial implications it could have on him. (e.g Duncan Bannatyne divorce: 'I'll have to sack 43 staff to pay Joanne McCue £1k-a-day' | Mail Online Dragons' Den star Duncan Bannatyne denies divorce will leave him unable to invest on BBC show | Mail Online )

It made me think back to what Gene Simmons discussed in his Sex,Money,Kiss book.

Have others here thought about this at all? I know MJ must have as one of his recommended books is about marriage. But would be interested to hear other thoughts on the subject?

 

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[MJ DeMarco]

Some people think that buying a house, or a car is the biggest financial decision of your life -- they're WRONG -- it's MARRIAGE, followed by CHILDREN (which usually follows marriage) and it's a decision that should be considered very carefully. I'm not advocating being single, but advocating wise stewardship of your life's decisions: Getting married after 5 weeks of dating is not being wise - it's EVENT driven thinking vs PROCESS driven.

 

[JasonR]

I agree - Marriage and kids are easily the biggest financial decisions you could make.

What was the name of the book MJ recommended regarding marriage?

 

[MJ DeMarco]

What was the name of the book MJ recommended regarding marriage?

My (Recommended) Bookshelf

 

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[JasonR]

My (Recommended) Bookshelf

Of course that book ranges from $40-80. Wow!

 

[MJ DeMarco]

Of course that book ranges from $40-80. Wow!

OMG, really? I didn't pay that -- probably $15.

 

[JasonR]

OMG, really? I didn't pay that -- probably $15.

Yeah, looks like it's out of print or something?
The Ten Conversations You Must Have Before You Get Married: Dr. Guy Grenier: 9781554700677: Amazon.com: Books

 

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[socaldude]

IMO ANYTIME you form a relationship with ANYBODY you are in their line of fire when it comes to their choices. So ask yourself: Where do I see this person in 10 years and would I want to be there with them?

When it comes down to marriage and kids here is my theory(Im only 20 so I have zero credibility and probably don't know what i'm talking about): Getting married and having kids is an emotional decision more than a rational decision. Couples get all excited and crazy about each other, they have the happily ever after wedding, have two kids within 2 years and then all of a sudden all this warm and fuzzy atmosphere had died down and your partner's TRUE colors come out(because they WILL eventually). So my advice would be to approach it in the most rational way possible relevant to your needs in a partner: Yeah i'm attracted to this person and we get along but will this person be someone who manages money properly and is responsible?

And lets face it; life all comes down to: Money. Thats probably the number one reasons couples fight. I would keep my finances separate from my partners.

IMO I would look for these qualities in a partner: Intelligent, Understanding, Honest and Responsible. :smxB: