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It's pretty simple, when you're getting that much money and want it to last forever you either:
-Keep working for money (won't last forever)
-Conserve as much as possible (still won't last forever)
-Make your money work for you (possibly forever)
The only real option is to make the money work for you in the long run.. I don't understand how people that come into money like this can't understand that..
If you're making 10 million per year and spending over half of it what are you going to when the money stops coming in from manual labor? Did he never once ask himself that question? C'mon.
I can understand how he might get lured into the situation of helping everyone out because hell anyone that has any kind of way to get in touch with him is going to be asking for a loan and telling friends that they know him which just brings in more loaners..
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