LogFAQs > #980156844

ai123 posted...

What happened to your brother? Does he regret doing it?

Is he suffering more than someone who is under the stress of grinding out a living?

He had that dangerous double-edged salesman quality of being able to make a lot of money and spend a lot of money. So he made a lot of really poor lifestyle decisions, riding the wave of his fast increasing paycheck and ever increasing lifestyle inflation. He started to just fall down the rabbit hole of putting everything on finance/credit cards because "it's fine, I can afford the repayments, and I'll be earning double this amount next year so I'll just pay it off then".

It got to the point where he was paying something like $1k per month just to cover the minimum credit card payments, and debtors were calling him every day threatening to take him to court.

I believe he's since got more of a handle on it and consolidated it and has been whittling it away, but he's still an idiot when it comes to money. His idea of a retirement portfolio is to buy a bunch of cars, restore them and sell them.