Money Lessons from Ex-con Grandpa and his $100M Drug Ring

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ref="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><ul><li><b>There is a lot of money to be made out there:</b> 100 million dollars is no small feat.</li><li><b>There are no shortcuts to making money: </b>a lot of money made quickly usually comes with the risk of a lot of money lost quickly. In Grandpa Joe’s case, it also came with a charge (probably more than one), jail time, and temporarily losing his wife and kids.</li><li><b>Build wealth for the long-term, slowly and steadily, and most importantly… legally:</b> avoid the get-rich-quick schemes and get rich slowly instead. Build funds that will be there for you to enjoy today and in the future.</li><li><b>Do not gamble:</b> Grandpa Joe eventually made it out of jail, made more money (hopefully legally, I don’t even know), but proceeded to gamble it all away (hopefully legally, again, I don’t know).</li><li><b>Do not use or sell narcotics: </b>um… illegal + unhealthy.</li><li><b>Being a small business entrepreneur is less risky than being a drug dealer: </b>Grandpa Joe, prior to the drug ring situation, built his very own successful and very legitimate clothing business. It was less risky — you’ll just have to take my word for it.</li></ul><figure id="b99e"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*mop6kSuIjHdF6Um1"><figcaption>Photo by <a href="https://unsplash.com/@arhmi?utm_source=medium&utm_medium=referral">Miha Arh</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><p id="d45d"><b>Happy Ending</b></p><p id="009f">Don’t worry, Grandpa Joe’s story had a good ending, pr

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obably because despite his mistakes, he had a really good heart. He eventually made money legally as well as took great care of his children and stayed in their lives and the lives of his grandchildren until he died at almost 100 years old.</p><p id="ef61">And now, his infamous legacy is leaving all of you with some great money lessons to absorb while you sip your cup of tea and ponder the question… <i>what ever happened to the 100 million dollars?</i></p><p id="4c25"><b>Would you like to support my page?<i> Please follow, comment, clap! You can also support by signing up using the link below. </i></b><i>As a Medium member, you’ll gain access to unlimited stories. Membership is only $5 and if you use my link, I’ll receive a small commission at no extra cost to you. Thank you for reading!</i></p><div id="a8b2" class="link-block"> <a href="https://medium.com/@personalfinancehour/membership"> <div> <div> <h2>Join Medium with my referral link - Personal Finance Hour</h2> <div><h3>As a Medium member, a portion of your membership fee goes to writers you read, and you get full access to every story…</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*5BeopFEDPfCmSFTT)"></div> </div> </div> </a> </div><p id="ab5c"><i>This article is not intended to provide financial or investment advice. Readers should conduct thorough research and seek professional consultation to develop a personal finance plan.</i></p></article></body>

Money Lessons from Ex-con Grandpa and his $100M Drug Ring

Where do you look for the best money advice? I look everywhere!

I research on my favorite brokerage sites, I read posts and watch videos on social media, I interview entrepreneurs and other wealthy people, I read articles here on Medium. Money lessons are abundant in every situation, even in the story of my ex-convict grandpa and his 100 million dollar intercontinental drug ring!

There were two very contrasting sides to my late grandpa (may he rest easy), let’s call him Grandpa Joe for convenience.

Grandpa Joe was a loving family man, small business owner, and hard-working and well-known leader in his community. Grandpa Joe was also an ex-convict, a major member of a 100 million dollar drug ring, a gambler, and a missing participant in his family for over a year of his life.

Nevertheless, this kind, fun-loving criminal and jailbird was still just Grandpa Joe to me, and he indirectly left me with many money and life lessons. This goes to show that there are many positive lessons literally everywhere, in any situation that you can think of.

Lessons Learned from Grandpa Joe’s Less Than Legal Dealings

There is a lot of money to be made out there: 100 million dollars is no small feat.

There are no shortcuts to making money: a lot of money made quickly usually comes with the risk of a lot of money lost quickly. In Grandpa Joe’s case, it also came with a charge (probably more than one), jail time, and temporarily losing his wife and kids.

Build wealth for the long-term, slowly and steadily, and most importantly… legally: avoid the get-rich-quick schemes and get rich slowly instead. Build funds that will be there for you to enjoy today and in the future.

Do not gamble: Grandpa Joe eventually made it out of jail, made more money (hopefully legally, I don’t even know), but proceeded to gamble it all away (hopefully legally, again, I don’t know).

Do not use or sell narcotics: um… illegal + unhealthy.

Being a small business entrepreneur is less risky than being a drug dealer: Grandpa Joe, prior to the drug ring situation, built his very own successful and very legitimate clothing business. It was less risky — you’ll just have to take my word for it.

Happy Ending

Don’t worry, Grandpa Joe’s story had a good ending, probably because despite his mistakes, he had a really good heart. He eventually made money legally as well as took great care of his children and stayed in their lives and the lives of his grandchildren until he died at almost 100 years old.

And now, his infamous legacy is leaving all of you with some great money lessons to absorb while you sip your cup of tea and ponder the question… what ever happened to the 100 million dollars?

Would you like to support my page? Please follow, comment, clap! You can also support by signing up using the link below. As a Medium member, you’ll gain access to unlimited stories. Membership is only $5 and if you use my link, I’ll receive a small commission at no extra cost to you. Thank you for reading!

This article is not intended to provide financial or investment advice. Readers should conduct thorough research and seek professional consultation to develop a personal finance plan.