With MJ's parting this week - it reminded me of a book on my shelf...

 THEY WENT BROKE?!It's Time To Stop the Bleeding by Roland Gary Jones

MC Hammer, born Stanley Kirk Burrell, sold some 18 million copies of his album, Please Hammer Don't Hurt 'Em.  Even though he won Grammy's and earned over $50 million in the 1990's - he filed Bankruptcy.  "It's time to stop the bleeding and get on with my life," he told one reporter when he filed.

You're In Good Company

John Wayne, Sam Walton and Donald Trump all sufferd financial hardships too! John Wayne at one time invested millions into get rich schemes from, "Hair Trigger Formula" that was suppose to end baldness, to a company that was going to extract methane gas from cow manure, to the development of "Product 76" which was "a substance that supposedly could both cure skin ailments and insulate buildings."  WOW! (I feel better already!)

Heck, even DANIEL BOONE had trouble!  He borrowed money to finance his fur-trading expeditions, and then came back empty-handed... sometimes, in an effort to save his own hide, he gave up horses and guns to the unfriendly Indians!  Because of this, the local bankers didn't like him too much...

"In fact, according to at least one account, Boone's motivation for exploring and settling wild Kentucky was to escape CREDITORS back East!  Eventually a Virginia judge issued a judgment and warrant for Boone's arrest on a debt.  On the back of the judgment a clerk later scribbled, "Gone to Kentucky."

So cheer up!  History is littered with stories of people like Harry Truman, Abraham Lincoln and Walt Disney who had tough financial times, and are still remembered for remarkable ACHIEVEMENTS!  The story of our life is part of the continuum, and it's what we LEARN from these times, and how we WORK THROUGH them that will determine what folks remember about us!

If you have questions about how you might be able to turn your credit scores around, click here.

 
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5 Comments on Broke? You're in good company!

JUL
08
210,203 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router

Yes it is amazing that for the wealthy, bankruptcy is merely a tool for financial reorganization and financial planning, while for the little guy it is the last financial resort in most cases.

2:41pm • #1
379,745 Points 1 Featured Post Outside Blog

Great point which I also point out to people who have suffered considerably in these economic times.

Sean

2:44pm • #2
116,482 Points 3 Featured Posts

Soothing balm for many Eleanor.  It's tough to swallow when you're in financial trouble - humbling to no end.  But remembering that others - very successful others - have been there helps. 

3:00pm • #3
JUL
09

It's amazing that the wealthy often find themselves "down on their luck".  When people have so much money, you would think they'd do whatever is necessary to ensure a secure future for themselves.

11:07am • #4
JUL
13
417,785 Points 48 Featured Posts Localism Sponsor Outside Blog

Eleanor,

Been there; done that!  This is an encouraging blog post!  Thanks.

Mike in Tucson

12:54pm • #5

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Eleanor Thorne 919-649-5057 Cary Mortgage Loans

Cary, NC

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First Financial Services, Inc

Address: 5565 Centerview Drive, Suite 101, Raleigh, NC, 27606

Office Phone: (919) 649-5058

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