LOL...Thank you all for the support.....and I can definately use advice provided by the "smartest man in the world".. both of them.
OK, here goes:
Me? I'm not the smartest man in the world. Perhaps that awareness has been my saving grace. Because of factors beyond my control, I was forced to drop-out of highschool 30 years ago.
Nobody knows this other than my parents and siblings. I am now 46 and despite my dirty little secret, most view me as an educated professional.
I'll get to the point, I took over our (suffering) family construction company about 15 years ago. Not patting myself on the back, but I turned it into a fairly successful operation. 50+ employees and profitted between $500,000 and $1,000,000 for about 5 years.
Despite living a good life in Hawaii, I didn't have much overall enjoyment in my young life. I didn' get to go on to school with my friends and really sought that atmosphere and opportunity. I became semi-depressed and consequently started spending like a rockstar. I developed a bad gambling habit ($250,000 per year) and eventually lost my wife and kids. I acept full responsibility for my actions and have always supported them, financially and emotionally. We remain close....even though they are in another state.
Losing my kids (now 15 and 16) was the final straw. I do not party, rarely socialise and have not placed a bet in 3 years. I re-dedicated myself to the company and brought on a couple family members to do the administrative tasks I was not experienced in. With competition here in the islands VERY heavy, I took one more "gamble" and abandoned the company model. I started a new, but related service and it took off.
Suddenly I was back on top. My plan was to stay healthy, focused and in the black. My motivation was in getting my kids a better life (education) than mine. They are very bright and deserve such an oportunity. In fact...they are both star athletes and on the national honor roll. My daughter has been contacted by Eileen (?) Ford about a modeling career. All appears well....but
I invested everything in new equipment for this new operation. Everything was going great and everyone was making money again....then I blew out my back in an accident at home. I have had MAJOR sciatica despite two surgeries. I even had to hire a driver to get from job to job. I decided to force myself to undertake office duties that I always loathed ie, bookeeping. It was at this time that I discovered my new partners (family!) had tore thru my money like gangbusters. Taxes were not paid and i remain in serious jeopardy of losing the company.
As I started this post: I'm not the smartest guy in the world. I cannot take legal action for a couple different reasons. Blackmail being one. I did however circle the wagons immediately and paid off the state and IRS of all back taxes and penalties. I paid over $150,000 in credit cards and that again to my suppliers. Because of my injuries....these people, mostly friends, failed to tell me that they were not being paid. This is what allowed so much damage to occur. I just didn't know what was going on.
Today:
1)My back is still messed up.
2)I have minor stock investments....maybe $10,000, I lost about $100,000 in 2000 and remain gun shy.
3) No 401K
4) $600,000 in real estate equity
5) $300,000 after tax in the bank earning zilch.
Not only has the company suffered greatly...but I am jaded. I don't think I can go thru this rebuilding process again.I am down to 5 employees and they are about to jump ship.
This is getting very long (I apologise) but I was hoping someone could help direct me to a first step. Shall I seek a financial advisor / planner? In all honesty, this whole thing has caused me a bit of paranoia. I am having a very hard time trusting anyone with the money i have left and may not be making much more. It is clear to me....(and friends) that depression is getting the best of me. I am typically very optimistic and I am having a hard time with these new found emotions. Any suggestions would be greatly appreciated, if anyone is sill awake.
Thanks in advance.