4. The fourth key is to protect your wealth. So many people who have wealth are equally or more insecure today with an abundance of money, than they were, when they had none. People often feel less secure when they think they have more to lose. Why? It's because they know that in any moment, someone could sue them for completely unfair or unjust reasons, and decimate their assets.
Would you like to know how bad the current climate is in the United States? According to an article in the London Financial Times, of all the lawsuits that were filed around the world a staggering 94 percent were filed in the United States alone. There are 18 million lawsuits filed per year, in fact current statistics from the American Bar Association show that if you live in California and make more than $50,000 a year, there is almost a one in four chance that you will be sued.
From the European perspective, it seems that Americans are always looking for someone to blame when anything goes wrong, and this is the genesis of this incredible number of lawsuits. These are harsh words, but unfortunately they are true.This attitude is not found anywhere else in the world, and it is destroying our nation economically, tying up our time, capital and energy in wasteful and nonproductive ways.
For example, as recently reported in the Wall Street Journal, a man who was driving his vehicle while drunk tried to move the shotgun on the seat next to him, and it accidentally discharged and killed him. His widow, rather than acknowledge her husband's inebriated state, sued the shotgun manufacturer for $4 million on the grounds that the gun did not have safety devices for drunk drivers, and won!
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