What are the fastest way to destroy wealth?

Maphalle

Member
It is easy to destroy wealth and it can be destroyed in different ways. One of the ways is when you spend without making an income. There's no way that if you have R1m in 2021 and you're expected to buy a car, clothing, food, entertainment, medical, transport, school fees, etc. and still by the end of the year you'll have much remaining? No ways, as long as there's no income your wealth will crumble.
 

uforwealth

Verified member
What is high yielding investment programme and what is the effect on loosing or destroying wealth that has been acquired for a very long time.or Is it another form of gambling because i haven't heard such investment or plan before.l think I need more information or ideas about high yielding investment plan or programme
HYIP stands for High yielding investment program that promises heaven on earth. The arrangers of this type of investment vow to pay a higher return on investment to entice their unsuspecting victims to invest their hard-earned money with them. For instance, they usually promise to pay high returns on your investment such as 500%,800%, and so on. I have seen one that wanted to pay 1000% RIO. The truth is that 95% of them are scams

I can still visualize how I lost most of my money to this investment program in 2012. I invested in HYIP in the hope that I would make a 400% return on my investment, as promised by the organizer of the program. To my surprise, I received no response when I made a withdrawal request.

Please, don't be deceived by their high returns. Even, If you know of a person who has got paid from this program, do not join. That person may be a member of their staff
 

Good luck

Verified member
High Yielding Investment Program is one of the quickest ways to lose wealth.Even,if care is not taken, the loss that comes from the program can lead to the death of the investor.

Apart from HYIP, gambling is another enemy of wealth. If you are addicted to gambling, you will be anxious to gamble with everything you have in life.

Prevention is better than cure.
What is high yielding investment programme and what is the effect on loosing or destroying wealth that has been acquired for a very long time.or Is it another form of gambling because i haven't heard such investment or plan before.l think I need more information or ideas about high yielding investment plan or programme
 

uforwealth

Verified member
High Yielding Investment Program is one of the quickest ways to lose wealth.Even,if care is not taken, the loss that comes from the program can lead to the death of the investor.

Apart from HYIP, gambling is another enemy of wealth. If you are addicted to gambling, you will be anxious to gamble with everything you have in life.

Prevention is better than cure.
 

Good luck

Verified member
Fastest way to destroy one's wealth is by not been prudent in spending.Some people spend money the way they see it.because most of the money may not be Got from a right way or channel.An embezzle money will be spent lavishly on things that are not necessary.Things that are not count or worth spending money on.Wasteful spending is another way of destroying wealth.
 

Abigael

Valued Contributor
I have never thought about it this way. I guess it is because this does not affect us in African countries much. But I have watched this alot in western movies. Men fear alimony alot in those movies. I guess in real life it really makes most men broke, no matter how wealthy they were.
 

btaliat

VIP Contributor
It is easier to destroy wealth than to accumulate wealth. Lack of finicial mamagement is the number one factor, most people don't know how to manage money. They spend money the way they earn money and end up losing all what they have acquired because they think they can acquire all their needs and wants.
 

Makah

Active member
Unnecessary or extravagant spending can be good weapon it destroy a person wealth in a such a way the person in talk will have nothing to live on anymore.
I think Extravagant spending is one of the top ways people lose their wealth
Shopping and spending sprees
So we should always be careful in what we spend on and always be humble in all of our ways
 

sincerem

VIP Contributor
Excessive spending spree without investment is the biggest of them all. If we depend solely on spending and not replacing the spent funds it won't increase rather the cash is decreasing. That's simply a very rigid way of destroying wealth to fall down to nothing. We should always invest, save money and curtail our spending.
 

Chibson

VIP Contributor
There have been a lot of people who will were wealthy and later became very poor. One of the main reasons people do not sustain their wealth is lack of proper plan and also lack of financial management skills. There are so many ways where what can be destroyed; such as lack of proper planning, doing drugs and also being into some kinds addiction.
 

Alexandoy

VIP Contributor
If this topic is about losing wealth literally then I would say it is the casino. Just go to the casino every day and spend your waking hours there to bet on whatever game you desire. Betting in the casino regularly will surely wipe out all your resources that you may not even last a year in ruining your wealth. No one got rich in the casino when they play continuously.
 

marcusfe

Active member
Wealth as it seems to be is not indestructible, in fact, it is very easy to destroy vanish away from the owner. I've come the understanding that there are some important things that destroy wealth faster than anything. The most terrible one is marrying a wrong person. It is easier and better to marry a wrong person in some countries of the world but if you try in the western world such as US then you're finished. We all know how properties are shared between a divorced couples. Of course many people men want to marry hotties but are they really ready to bear the consequences? This has being the doom of many black people who travel overseas with their unloving spouse. Getting there the wife will file a divorce and cart away all their life earning. There are more other ways to destroy wealth but let me limit it here.
 

Kingsley

Valued Contributor
One of the fastest way to destroy wealth is to spend recklessly, just like the than richest man in Africa from Mali, known as masa musa, he was so rich that on his way to mecca he dropped the value of gold by 12% but at the end of the day his country happens to be one of the poorest in the world. He was known as a reckless abandon.
 

greatguy1

Active member
Wealth as it seems to be is not indestructible, in fact, it is very easy to destroy vanish away from the owner. I've come the understanding that there are some important things that destroy wealth faster than anything. The most terrible one is marrying a wrong person. It is easier and better to marry a wrong person in some countries of the world but if you try in the western world such as US then you're finished. We all know how properties are shared between a divorced couples. Of course many people men want to marry hotties but are they really ready to bear the consequences? This has being the doom of many black people who travel overseas with their unloving spouse. Getting there the wife will file a divorce and cart away all their life earning. There are more other ways to destroy wealth but let me limit it here.
Extravagant spending is what I will touch on this issue. Spending uncontrollably on unnecessary things will vanish wealth easily. Scale your preference and know what you need. Don't buy on impulse and avoid people/things that make you spend. Limit your expenses to within what you can afford and you will be alright.
 

Hena101

Active member
When it come to fastest way to destroy wealth i can say they are many because of our difference in understanding and also difference in habit of spending. Gambling can destroy wealth in less than an hour because I'm a witness if how many peoples lost their huge amount of money in gambling while they are living a comfortable life debt free but gambling turn them into begging on a street and they go back when they get a little money in other to get their money back but same happened again
 

Samuel72

Verified member
According to my own point of view the fastest way to destroy wealth is by spending stupidly or extravagantly. Once you begin to do this with your business money the wealth begins to go down and as time goes on the wealth will be destroyed forever.
 

Godslamp

Active member
Lack of a financial plan can impact almost everything on the list. No budget means no examination of expenses and spending that could be eliminated.
It comes back to haunt you when you’ve invested most of your wealth in one thing and, to me, that includes the housing market. When markets turn, some people always find themselves burned because they were overly exposed to one sector.
Inheritance is a bonus, not a guarantee. Don’t make them part of your financial plan.
 

Henrylaw

New member
I think the fastest way to lose through addiction and gambling. When are talking of wealth it isn't just money alone but also properties. An addicted gambler can loose all his or her money in a day. Another fast way one can loose wealth is lack of accountability. This is very important in life. We must be a able to make wise and accountable decision. There must be a reason to spend whether you are investing or pursuing a worthy goal.
 
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