Did You Hear About The Billionaire Who Lost 90% Of His Wealth?

Ted Turner

Do you remember Ted Turner, the media mogul who founded CNN? At the turn of this century, he lost 90% of his wealth, leaving him with just $1 billion. “Boo hoo!” you might say. “He was still a billionaire.” That is true, but no matter how much wealth you have, losing that much money is a punch to the gut.

And it’s about to happen again, to a whole lot more millionaires and billionaires. In fact, it’s already started happening. A recent survey of 2,500 millionaires revealed how their net worth fell by $2 trillion in 2018. The hardest hit were those in China and the U.K.

The big question is: Is this loss an anomaly, or are we staring at the canary in the coalmine?

I answer that question, and another, more important one – why you should even care? – in today’s video.

I also answer a question from a 70-year old subscriber. Ken and Carol are wondering what they should do with their house: reverse mortgage or sell?

Watch today’s video to hear what I think about that situation.

Follow me on Twitter @harrydentjr

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