Financial ruin necessarily follows from being financially well-off in the first place. This means that if you think getting a lot of money will reduce all your money problems than unfortunately you are highly mistaken. Rich people go broke too and starting from multimillion dollar worth athletes to lottery winners, there are numerous examples all around us where people who have a lot of money were eventually not able to hold on to it, resulting in financial ruin in the process.
So why does this happen? Why do rich people go broke? And why can’t people handle money when one has it? The answer is simple – the all too typical and usual ‘now the world is mine’; syndrome.
‘WORLD IS MINE’ SYNDROME – WHAT IS IT?
When you suddenly get your hands on a lot of money, be it an inheritance or a lottery win or even a business deal that went the right way, you feel that the world is yours! It can be of course, but you need to strategically plan for it! The ‘feeling’ per se can do more damage than good and more than often leads to complete ruin! Let’s see why and how.
YOU TEND TO OVERSPEND ON YOUR ‘DREAMS’:
This story is from the April 2017 edition of Mad About Money.
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This story is from the April 2017 edition of Mad About Money.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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