/biz/ - Business & Finance

>>26520659
Wow, the dude actually said something useful and true for once. Good on him.

>Do you think by lose he means spending it, or some other entity being involved?
This has been discussed at length in thread, so I won't get too far into it but here's what he means. Look at lottery winners. Look at people who suddenly come into a life changing amount of wealth. Look at what happens to them statistically. Now look at the narrative around XRP and the flipping of the switch. Consider what gets posted in this thread when wealth management is discussed. Consider what gets posted when people talk about what they want to do with their wealth.

Look at what happened to MC Hammer in the 90s. Massive, massive success in the music industry. Money falling out of the fucking sky onto him. He was everywhere in media. Until he wasn't. He fucked up his finances with stupid decisions and became a nobody faster than he became a somebody. It took him decades to rebuild and he rebuilt specifically by selling his life as a cautionary tale. He at least had name recognition to fall back on.

Now consider /xsg/. Leave aside all the >comfy, >frens, and clubhouse shit and realize that while there are exceptions to the rule here, many people here will fall under the rule. That rule, that generality, is that lottery winners are typically broke within 24'ish months of receiving their payout. There is a whole industry, small but lucrative, that exists to bilk lottery winners out of their earnings after they have overspent themselves. Understand that if you don't have a definite, no shit, concrete plan right now for what happens with your wealth and you do not have the will to enact that plan you will be another statistic. No moon lambos. No drug communes. No fart fetish buffets. None of it.

Most of you will ignore this post or meme at it. Most of you will not make it, too. Have a real plan, not some stupid meme, and be researching right now how to enact that plan otherwise you're ngmi.

>>26343031