Is it really a shocking statement to say that 1 out of every 3 people blow their inheritance?

I’ve seen this happen - someone inherits money and it is gone within 3 months to a year. All of the money is gone! It doesn’t matter if it is $25K or $1 million. Somehow these people find a way to blow it.

I got a subscriber question from someone that inherited a chunk of money and they want to make sure that they don’t blow it or lose all the money.

I wanted to be sure to answer their question but I also wanted to make a video for you. I wanted to share the information so that if you find yourself in this situation, you will be prepared to be able to put that money to work.

Not only do ⅓ of people blow their inheritance, but it’s not just average people. Statistics show that with wealthy people, OVER 70% of the wealth transfer doesn’t make it past the second generation.

Let’s find out what this reader had to ask:

“My spouse and I will be Inheriting about $750,000 to $80,000. The payoff balance of our mortgage is estimated at about $180,000 at 3.5% APR for 30 years. Would it be worthwhile to allocate some of the money we are inheriting to pay off the mortgage loan? ”

I told you this was a fat inheritance ¾’s of a million dollars!

The only inheritance I ever received was about $8,000 from my grandmother. I used most of that to pay off student loan debt, and some for saving and investing.

I can see how tempting it can be to go out and buy things when you get a chunk of money. A new house, new car, new clothes, new computers, etc.

If you want to see my butt get kicked...you are in for a special treat today.

I am doing a workout that I do every single Memorial Day. This workout is named Murph, it is named after Lt. Michael Murphy who is a Navy Seal that was killed in action.

I didn’t know anything about crossfit until I deployed back in 2005. If you’ve heard of Crossfit, you’ve heard that it has blown up, but back then it was fairly new. There were only 2-3 guys that I knew in Iraq doing it. A buddy of mine introduced me to it. But while we were deployed we started doing these ‘hero’ workouts. They are all named after military personnel, first responders, those that sacrificed their life for the greater good.

So I was still in Iraq when the Murph workout came out, I was already doing crossfit so I felt like I had to do it. The funny thing about this workout, is that it is the first workout that ever made me puke.

The one thing about me you might not know yet, but you’re getting ready to find out...

I am a bit of a shoe junkie!

Do you remember what you were doing at 17 years old?

Good Morning Y’all. Just got back from my title boxing and got my butt kicked again.

I’ve been a part of a few crazy things in my life, but nothing crazier than what just happened last weekend. All it involved was a baseball game, one baseball, a little boy and one fanatic Cubs fan. The rest is National headline history.

So what happened? Let me break it down for you.

Me and my family are big Cardinal fans. They play every year at Wrigley field. For the past two years the Cardinals have played the Chicago Cubs at Wrigley Field. Last year I took my oldest son to watch. This year they played again on his birthday, so we wanted to go back. I also wanted to take my middle son and my wife.

So we made a nice trip of it.

Before the game the boys got some autographs and snagged some balls. ⚾ They were pretty set before the game even started.

Sitting directly next to me at the game were a grandma and grandpa with their grandson, they were all decked out in the Cubs gear and were having a blast.

I think the 2nd inning of the game a foul ball was hit and the grandson was able to get a ball with some help from surrounding fans. ⚾ An inning or two after that, a foul ball was hit to the tarp and the first base coach grabbed the ball and walked over and tossed it to the little boy that was next to me. I think he was 3-4. He didn’t catch the ball and it went under the seat. The man behind him grabbed the ball and gave it to his wife or girlfriend sitting next to him.

Now, all of us sitting around them saw this and no one said anything because we all knew the little boy had just gotten a ball the inning before. ☺️

Now, the game ends, the Cubs win, we leave and catch a ride back to the hotel.

My wife was on Facebook and shared a video clip that her mother had shared. Apparently when that coach tossed the ball into the stands the video cameras were recording this and the commentators were talking about how a fan was getting ready to get a souvenir. Then they showed the clip of the guy getting the ball ‘away’ from the kid with the headline, ‘Don’t be this guy.’

Let’s see if this sounds familiar….you have some money sitting in a savings account and it is probably making next to nothing. If you are not really sure what to do, you have several options.

What’s going on everybody, back with another Wealth Hack Wednesday!

I just wrapped up another boxing class. This has become my jam this summer, just hitting that heavy bag.

Here’s the thing, I love doing YouTube videos, I love putting out content and I love when people take action on some of the advice that I offer.

But do you know what I LOVE THE MOST?

The comments! Not the simple “Thank you for the video” - the comments from the haters-Those are the ones that I love.

I have been blogging for a while and I am used to these comments now, but I remember in the beginning how much they bothered me. But now, it is just so much fun just proving them wrong.

So haters, have fun with this one!!

So imagine getting an email where someone is offering you $150,000 cash.