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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186 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
But he is right
this is where the hard working men money goes
Until they put a lien on ur bank account.
Shouldnt not dont
we the people are not stupid by any means! in order to beat the system you have to out think it!
😂😂😂
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
No true at all. MC Hammer went broke
Well better then laying around with hand out
That’s ridiculous just put the 10 million in a high yield savings account and live off the interest it would be around 25k a month
That haram
yea until they garnish your 10 mill.
that's not how bankruptcies work lmfao. Theyre going to take all your assets, including your personal funds amigo.
Bro, there’s so many people teaching me stuff so when i get rich God is helping me right now
lol,They will freeze your account if you owe the bank,I've seen bank take guys check at bank n never gave the man his money due to him owing for a loan. This is not rite, you think banks are dumb, bankruptcy is when you don't see the loan coming up short but business can, it's all by accident not on purpose, you think people are in business to fail?
Dude today these judgements go against what you have in the bank... happened to me
you will be sued. the only way to do something like that is to put everything in a trust or llc aka limited liability because it's yours but also not yours
if you borrow from your own money in bank and don't pay it back then they take your money in bank. it's called collateral aka if you don't pay it back we keep the collateral ei house, car,ect
Don’t listen to this guy. DO NOT 😂 or do, and be broke after they gain legal access to your bank assets 🤷🏻♂️
evil, pure evil.
yeah not really
Yeah, do that. I'll be here, watching the news for this story to pop up. I'm excited to see how the bank would punish you. The system is fickle.
Buddy out here telling 🥷s anything hopefully 🥷s smarter than that… PLEASE DO NOT listen to this forget you even seen this
That’s not what they do at all lmfao
akons going broke as we speak
I believe if you borrow against your ten million in the bank. That ten million belongs to the bank until the loan is paid. Sort of like a home mortgage.
Rich people don’t do that 😂😂😂 trust me 😉
wow
Until the bank sues you
thats what people dont understand about trump..he didn't have failed businesses. thats NOT why he filed bankruptcy. its strategic..and actually smart.
they will take that 10 million
That’s while you call me to get life insurance and I’ll make sure you get your money with no taxes😂😂😂
🤔... 💡
round table of financial genius.
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
If you borrow against something isn't that collateral, dont they have the right to take it if you default?
Dude has no idea what he's talking about.
😂 Rich people never go broke? Yea right. Plenty have and do.
a lot of broke people commenting ignorant.
So wrong
the banking system keeps the country in debt... never paying it back only paying the interest
They will take your 10 million to pay back plus fees and interest. Now you are broke.😆😆😆😆😆😆😆😆
facts credit means nothing file chapter 7😂😂