Millionaires Gone Bankrupt - Page 2
In truth, I don’t think the manner in which millionaires-gone-bankrupt gained their millions matters much, whether it was lavish lifestyle, silver spoon theory, winning the lottery or working hard, it is HOW they lost it that matters. They bought too many, too big and too expensive. Over and over and over.
It takes an incredible amount of bad decisions and a good length of time for a millionaire to go bankrupt. It doesn’t just sneak up out of nowhere. You don’t have to be a millionaire to make bad decisions though, because it is only natural that when you make more you spend more. The bottom-line is that just because you have more doesn’t mean you should spend more. Even if you have millions, or hundreds, or twenties every single penny matters.