Caution Tales for Teslanaires

[LightngMcQueen]

Hi everyone

As we cover benefits and opportunities of Tesla and TSLA ownership, one topic does not get enough attention: risks that come with newly found wealth.

Some of those risk may come from others who may now see Tslanaires a target and from cognitive biases which maybe stirred up by recent success.

If you have cautionary tale to share, please post it here.

 

[LightngMcQueen]

#1. Your spouse is now a target too

I was told this story by the banker. A spouse of an entrepreneur with newly found wealth liquidated all they joint assets and disappeared while the husband one was out of town for few days. He was completely surprised (and devastated) when he came back.

What struck me was that (1) assets were substantial and (2) she would anyway be eligible to a half if they just split. Why would she choose life of hiding and risk what she will eventually get in an almost inevitable court settlement ?

The best explanation is 3rd party. Someone knew that couple had new liquid assets, "coincidentally" started affair with naive spouse and planted the plan her mind. For a skilled con the calculus is easy even if he/she gets hand on 10% of the money it is better than nothing they had last month. They don't mind hiding, as they might have used cover identity anyway, plus how would you ever get this money back?

 

[glide]

#1. Your spouse is now a target too

I was told this story by the banker. A spouse of an entrepreneur with newly found wealth liquidated all they joint assets and disappeared while the husband one was out of town for few days. He was completely surprised (and devastated) when he came back.

What struck me was that (1) assets were substantial and (2) she would anyway be eligible to a half if they just split. Why would she choose life of hiding and risk what she will eventually get in an almost inevitable court settlement ?

The best explanation is 3rd party. Someone knew that couple had new liquid assets, "coincidentally" started affair with naive spouse and planted the plan her mind. For a skilled con the calculus is easy even if he/she gets hand on 10% of the money it is better than nothing they had last month. They don't mind hiding, as they might have used cover identity anyway, plus how would you ever get this money back?

What makes you think the spouse was “naive” or that the idea was “planted in her mind”?

Is she not a sentient human being with free will?

This takes the cake for most ridiculous thread of the day. And that is saying something around here.

 

[LightngMcQueen]

What makes you think the spouse was “naive” or that the idea was “planted in her mind”?

Is she not a sentient human being with free will?

This takes the cake for most ridiculous thread of the day. And that is saying something around here.

I sincerely appologise if you found my post offensive.
I do realize that this post may trigger personal feeling for many, however it is not my intention. My intention is to illustrate possibility not argue veracity of this example. You interpretation maybe correct, however this is not the point of the post.

The purpose of the Post is to open Teslanaires to many possibilities their new wealth makes them vulnerable.

The statistics are stacked against those who recently experienced significant wealth gain through TSLA appreciation.

"...70 percent of people who(...) get a big windfall actually end up broke in a few years, according to the National Endowment for Financial Education."

Why do 70 percent of lottery winners end up bankrupt?

In fact, about 70 percent of people who win a lottery or get a big windfall actually end up broke within three to four years, according to the National Endowment for Financial Education.

www.cleveland.com

Lets come together with the way to prevent this. Sharing examples of what can go wrong is one way to go.

 

[glide]

I sincerely appologise if you found my post offensive.
I do realize that this post may trigger personal feeling for many, however it is not my intention. My intention is to illustrate possibility not argue veracity of this example. You interpretation maybe correct, however this is not the point of the post.

The purpose of the Post is to open Teslanaires to many possibilities their new wealth makes them vulnerable.

The statistics are stacked against those who recently experienced significant wealth gain through TSLA appreciation.

"...70 percent of people who(...) get a big windfall actually end up broke in a few years, according to the National Endowment for Financial Education."

Why do 70 percent of lottery winners end up bankrupt?

In fact, about 70 percent of people who win a lottery or get a big windfall actually end up broke within three to four years, according to the National Endowment for Financial Education.

www.cleveland.com

Lets come together with the way to prevent this. Sharing examples of what can go wrong is one way to go.

What’s the expression about a fool and his money? Is there really a need to delve deeper with questionable anecdotes?

Here’s some advice for anyone with money (or without for that matter); keep your mouth shut. Don’t be stupid. You’ll be fine.