If you don’t know how to handle money, getting a couple of million isn’t going to help. You will fuck it up.
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.
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.
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.
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