For a lot of people, money isn’t a number but an on/off switch. Self control in choosing to not buy something isn’t developed, so people who come into money start spending extravagantly since they don’t have the economic limitations keeping their spending in check.
There is also social pressure to spend, since that person is likely surrounded by others with the same mindset.
If you don’t know how to handle money, getting a couple of million isn’t going to help. You will fuck it up.
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What is wrong with my writing?
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Dumb down? There is nothing to dumb down, it’s just that the build up of your sentences makes them hard to read.
Well you keep going posting about it. You took time out of your day to post something negative about another person. Kind of seems like that much effort you must love me and my writing.
It’s not a personal attack, we’re confused because you didn’t finish the sentence.
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Expensive lifestyle until it’s suddenly all gone.
offer money for a percentage of said store why not perpetualy money
wat
78% of NFL players are in financial trouble couple of years after retirement. I imagine there’s something similar going on.
https://en.wikipedia.org/wiki/Personal_finances_of_professional_American_athletes
According to a 2009 Sports Illustrated article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players, 78% of NFL players,[2] and a large percentage of Major League Baseball (MLB) players (4x that of the average U.S. citizen)[3] go bankrupt within five years after leaving their sport.[4] Originally the statement “60% of NBA players go bankrupt within five years after leaving their sport” was released by a representative of the NBA Players’ Association in 2008.[5] A Fortune magazine article states, however, that a working paper from the National Bureau of Economic Research found that the percentage of NFL players who go bankrupt after two years is a much smaller 1.9%, climbing to 15.7% after 12 years.[6]
Not everyone is smart. Not everyone has the same capabilities as everyone else. Not everyone’s situation is the same. Could be a bunch of reasons aye mate.
One of the big 4 banks here asked our group a question in a job interview once: what would you do with $1 million? Most answers were “id give half to charity and half to my family” or “id give it all to charity”. The only people that were hired (a small few) were the ones that talked about how they would invest it to setup a passive income.
Maybe that helps paint the answer, i dunno, but that really stood out to me when I was younger.
Celebrities tend to have very unpredictable cash flows, but most things the wealthy spend money on (including local investments, etc.) come with loans that need to be paid regularly.
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