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jay67

Former Millionaire Living In Sister's Shed After Business Fails

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But after the credit crunch savaged her business, her home was sold for just a third of its worth and she went bust

Er no, if it had been worth more it would have sold for more.

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I find it so weird that someone has what it takes to start a business that nets her a million in clear profit, but not the common sense to prioritise taking care of herself in the long-term. In the exceedingly unlikely event that I managed to make a million's clear profit out of any work activity, about the first thing I would do would be to buy a solid asset that, if everything went wrong, I could at least realise and then buy an annuity with. But instead, this woman frittered it on a Hummer and bling. Strange.

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It's not clear if she ever had a million in debt-free assets. The article says ~£600,000 for the gym and 'up to' ~£450,000 for the house, both together > £1million?

Sounds like the archetypal Schrödinger's millionaire.

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I find it so weird that someone has what it takes to start a business that nets her a million in clear profit, but not the common sense to prioritise taking care of herself in the long-term. In the exceedingly unlikely event that I managed to make a million's clear profit out of any work activity, about the first thing I would do would be to buy a solid asset that, if everything went wrong, I could at least realise and then buy an annuity with. But instead, this woman frittered it on a Hummer and bling. Strange.

No, she said she was worth a million on paper. Her liabilities may have equalled or exceeded that.

What puzzles me is how her mortgage payments tripled.

edit: Just saw the Schrodinger's millionaire bit - nice!

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No, she said she was worth a million on paper. Her liabilities may have equalled or exceeded that.

What puzzles me is how her mortgage payments tripled.

edit: Just saw the Schrodinger's millionaire bit - nice!

As posted on the other thread, she sold the house 14 months ago for £285K, not £160K.

I wonder if her creditors know that?

It was never worth anything like the £450K she claims. Even 'on paper'

The DM pics show she is an overweight woman with an overweight car. Not a good ad for a gym.

She lies through her teeth about her age.

Her problem is that she is useless with figures of any sort.

Proves how crap the DM is at checking easily verifyable facts.

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is that legal

i thought they were craking down on polish people living in people sheds what about this woman?

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..had assets of more than a million pounds

Not a millionaire then in my book, especially given when the assets were sold she is left living in a shed. Clearly they were not worth a million.

The article should be retitled "Ugly Women Living in Shed"

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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