MoneyOnMyMind
Welcome to MoneyOnMyMind, the go-to Circle for practical personal finance inspiration, tips, and real talk on managing your money. Whether you’re budgeting groceries, digging out of debt, building credit, learning how to invest, or wrestling with retirement plans—this is your community for smart, non-judgmental financial wisdom in short-form. Get motivated, swap hacks, and let’s help each other master our money one decision at a time.
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145 Comments
Most ignorant thing I have heard all day. You can still be taken to court even with an llc or cooperate status you still can be liable for some of that. Just put the 10 million in a compound interest savings account and live off the interest. Morons
My boy is a millionaire and didn't use any of his money to build a 50 unit condo building, he borrowed 20 mil. lets say he pays 70k a month to the bank but rents out 30 of the 50 units at 3k a peice that's 90k. Im using lower numbers just to show he can still profit. its in a very good area so I know he'll rent all units at around 3500-4000 a month, so I'm thinking atleast 175k per month and btw each of his 3 business grosses more than 175k a month. I know most don't belive but there's waaaay more people in this world that make waaaay more than that.
And ain't no bank giving you a loan for ten million for having ten million in the bank without putting that in up as collateral
This is never true I don’t know where he got his info from apparently he never had a $10 million his test his own theory he probably just heard it from someone else just like we’re hearing it from him now
so when they took me to court to pay back 4k if it would have been 10 mil they wouldn't have touched me? doesn't make sense
Until they put a lien on ur bank account.
No true at all. MC Hammer went broke
wow
Until the bank sues you
Rich people don’t do that 😂😂😂 trust me 😉
That’s while you call me to get life insurance and I’ll make sure you get your money with no taxes😂😂😂
😂 Rich people never go broke? Yea right. Plenty have and do.
round table of financial genius.
🤔... 💡
a lot of broke people commenting ignorant.
So wrong
yea until they garnish your 10 mill.
no one will loan you a dirty pair of under wear with a bankruptcy on file.
we the people are not stupid by any means! in order to beat the system you have to out think it!
Dude has no idea what he's talking about.
They will take your 10 million to pay back plus fees and interest. Now you are broke.😆😆😆😆😆😆😆😆
when u borrow against the money. believe, that money is being hold on by the bank. so when u not pay back. u think bank will just say "ok " ?? the ten is theirs n u own that interest😂😂😂from that 10 mil u borrow.
If you borrow against something isn't that collateral, dont they have the right to take it if you default?
facts credit means nothing file chapter 7😂😂
don't listen to this guy for financial advice. the reason why they loan you the money is because you have it on deposit. you cannot withdraw if your balance goes below the amount of the loan. the bank will get theirs and you'll have bad credit and no money
the banking system keeps the country in debt... never paying it back only paying the interest
wasnt that the guy that was locked up
He’s not wrong
Yeah that’s not how it works. They will come after you and take that money unless it’s protected in something like an llc
making egg sandwich never made 10 🧈 egg sandwich than cookies and a little banana smack that
Anddddd now he’s in jail
Right
most people don't fit 10 mil
Do it bro 😂 end up broke asf
Jail
didn't he steal a ton of money to build a city in Africa and they barely put up a frame to 1 building 😂😅😭😂
This can be done thru a c-corp but he is not telling the WHOLE aspect of what you have to go thru to obtain against business summary etc to prove despite other steps but yes he is halfway correct…he not telling all of it because “Rich PPL don’t make broke ppl Rich”..
This is moron logic. The bank will get their money - trust me
low IQ I swear they are stupid
No longer
you can't get anything on credit anymore with bad credit... he said build it up again in 5 years. like 5 years is a short time...
I was a fan of his until she'd not told the story of how he came up in the hotel room and he sank the acon and his Partners had them some Tula young girls up in and it was under age too
rich people are always broke. . . most are "worth 10 million" but are in debt millions of dollars.
why not just invest that kind of money in CDs and dividend stocks and take some money from that?
And suge knight allegedly told to 2 girls to leave and gave him some money
his friends knew all about them phone calls and that minimum payment 😂😂😂
So I saw you take me to court cause they do that now
lol Idiots