The inspiration for this week’s episode stems from a recent discussion with someone I met at a bar who started a business. The business took off, winning award after award, and even got to the initial stages of becoming a franchise. My friend worked incredibly hard to get it up and running but, this took a toll on his energy levels and his marriage started to suffer.
When you dedicate all your time to pursuing a goal it's easy to let other things fall through the cracks. In this case, my friend’s partner filed for divorce and his business soon crumbled to the extent that he now owes hundreds of thousands of dollars. The creditors came after anything they could get their hands on, and if his spouse wasn't kind hearted it could have been much worse. He is now at an age where the loss will never be recovered, so his existence is doomed to being forever funded by the government.
So now the question becomes: what steps could have been taken to prevent this scenario?
Sit down, lean back and listen as we unravel the different strategies needed to protect you against this potential disaster.
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