Quote:
Originally Posted by TheSquealer
It's easy. You take a poor kid with shitty parents (or a single parent) who grew up with nothing and you suddenly give him a check for 8 figures... wrongly expecting them to behave as a rational, well parented, well educated and well taught adult.
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it's not always stupidity or poor upbringing though. You could just be horrible at investing. If you make some very large and poor investments that become malignant that can eat up money fast. In the op's 'buying a building' example even. If you spent say 10 million on an apartment building because you've always been told that is guaranteed money. But then you find out later the building was enough to pass code but only held together JUST enough to last 2 or 3 years and it needs major renovations. that could easily be another 5 million. If anyone gets injured or is affected by any of those code violations that could lead to law suits and even if you win that becomes a very expensive bill for a team of lawyers you would need. That doesn't leave you a lot to live with given you probably spent a bit of money on yourself during that time, even a nice house and some vehicles would have you treading water just like that.
personally i would work with much smaller investments and try to grow with that instead until i felt more confident in bigger projects, but mostly because i really don't know how to invest that kind of money either hehe