Quote:
Originally posted by SleazyDream
You're probally right there but not for the reasons you think. Most people in TGP made their money in the last few years and it was the first time in their lives they made BIG money - what happens when people get lots of money fast? They spend it.
I know TGP people who have ferrairies, million dollar homes, boats worth many hundreds of thousands, etc etc etc.
The reason many of them are broke is cause they spend the money as fast as they get it. It's a sickness but it happens to the best of us, and not just TGP people but pretty most any people who come into money for the first time have this problem.
me included.
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Yes - and you are right about not TGP people. People see they guy with the rolex and think rich. I look at the guy and think - you spent what for that?
Here are some stats for "The Millionaire Next Door" (Great Book by the way)
The average Millionaire has never spent more than:
$399 for a suit
$140 for a pair of shoes
$235 for a wrist watch
$29,000 for a car
and the average millionair lives in a home worth $320,000 (likely to be much higher now - as the book is 6 years old - and real estate values have gone up a lot.