Earning money is far far easier than managing the money. Many inheritors have ruined the inheritance. The Birla clan in various portions has destroyed wealth, have they not?
There are just too many examples – here are 2 from the USA…Evelyn Adams won the New Jersey lottery not once but twice, in 1985 and 1986. All $5.4 million of winnings has since evaporated – mostly into Atlantic City slot machines. Relegated to living in a trailer in a trailer park, Adams said, “I wish I had the chance to do it all over again. I’d be much smarter about it now.”
William “Bud” Post won $16.2 million in the Pennsylvania lottery. He invested in a car and restaurant business. Within a year he found himself $1 million in debt and went on to declare bankruptcy. To make matters worse, his brother was arrested for hiring a hit man to assassinate him so he could claim the winnings for himself. “Bud” now lives on Social Security saying, “I wish it had never happened. It was a total nightmare.”
So all that talk about ‘I wish I had inherited a 2 million $ home or ..whatever..makes no sense unless YOU know how to manage the money. Alternatively knowing that YOU do not KNOW is very important, so that you do not squander it away like our two aforesaid heroes.
Post Footer automatically generated by Add Post Footer Plugin for wordpress.