In this episode, A.B. Ridgeway dives into the fascinating and unfortunate story of a woman who won a $9.8 million lawsuit and invested it all into a Golden Corral franchise, only to lose it all in just 52 days. Inspired by a clip from comedian Shuler King, A.B. dissects the financial decisions behind the scenes and offers his expert financial advisor perspective. What could she have done differently? And what lessons can we take from this bizarre scenario?

Key Takeaways:

1. Diversification is Key: Rather than putting all of your money into one venture, spreading your investments across various asset classes like real estate or stocks can provide financial security.
2. Get Professional Advice: Consulting a financial advisor can help avoid impulsive decisions and ensure a strategic approach to managing large sums of money.
3. Understand Financial Products: Not all investments are created equal. It's crucial to understand what financial products (like money markets and fixed annuities) can realistically offer in terms of returns.

3 Quotes:

1. "There ain’t no way in the hell you spend $9.8 million on a Golden Corral."
2. "You mess around and win a lawsuit or get a lot of money, your safest bet is to invest in something solid, like rental property."
3. "A financial advisor can’t guarantee 12%, but they can help you make better choices to grow your wealth over time."

Subscribe to Financial Advisors Say The Darndest Things for more financial insights and visit A.B. Ridgeway on YouTube to watch the full breakdown of the lawsuit.

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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

Video/Audio Credit: Shuler King