The majority of people who get rich quickly often lose it all just as quickly. Here's why...




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Chapters

00:00 Start Here
01:17 Not Having The Skills To Handle The Money
02:34 Lack of Respect For The Money
03:43 An Inflated View of Money
04:32 Reckless Spending
05:33 Increasing Cost of Living To Uncontrollable Levels
06:42 Overestimating Their Ability To Make It Again
07:50 Bad Investments
08:55 Lack of Knowledge To Grow Money
09:42 Depression & Lack of Drive
10:41 Easy Come, Easy Go


Everyone in this world wants to get rich quickly; however, when you look at the people who do get rich quickly, it often doesn't end up working out for them and they lose all of their money. There is a reason for this and in this video I share 10 reasons why getting rich quickly never works out.

1. Not Having The Skills To Handle The Money

When someone receives a large amount of money in a short amount of time, they never gain the skills of knowing how to handle the money. This causes them to blow it all on stuff and quickly go back to the bad financial situation they were in before.

2. Lack of Respect For The Money

Another problem that comes with receiving a lot of money in a short amount of time is that you do not have respect for what you are given. And when you don't have the respect for it, you often blow through the money a lot quicker. Whereas when you work for something you have a deep understanding of the effort it took to get it and respect it more and can hold onto it.

3. An Inflated View of Money

As you start to have more money in life, what you think "a lot" of money is changes. And many people who get rich quick often end up burning through the money a lot quicker because their view of money gets inflated.

4. Reckless Spending

When someone has a lot of money, they often become reckless with their spending and buy a bunch of expensive things just for the sake of buying them. This causes them to spend a lot of money more quickly and run out of money fast.

5. Increasing Cost of Living To Uncontrollable Levels

Oftentimes people who come into a lot of money very quickly, they begin to increase their cost of living and get a bunch of nice, new possessions; however, they don't consider the recurring costs that come with the ownership of the possessions. Eventually, their cost of living becomes out of control and their money goes very quickly.

6. Overestimating Their Ability To Make It Again

Oftentimes when people come into a lot of money very quickly, it was an isolated success that they cannot recreate; however, they often get big headed and think that they can recreate their success over and over, and just spend their money. Eventually they discover that they are unable to recreate their success and spend all of their money.

7. Bad Investments

When people have a lot of money, they start to think that they are a genius and everything they touch will turn to gold no matter how bad of an investment it is. This causes them to put a lot of their money in very bad investments and lose it.

8. Lack of Knowledge To Grow Money

When money comes quickly in life, you often don't gain the skills that you learn along the journey, and one of these important skills is knowing how to grow and invest your money. Instead, they just put all their money in a savings account and spend it all instead of getting interest on it.

9. Depression & Lack of Drive

When people make a lot of money, they no longer need to chase money and lose their drive in life because they can afford everything they want. This causes them to become depressed and try to cure their depression through spending money, ultimately spending it all.

10. Easy Come, Easy Go

What I am trying to say in this video is that when money comes easy in life, it often goes just as easily because you never gained the important skills on the way. It is important to see the importance of the journey when it comes to building wealth in life because those skills allow you to hold onto the money.

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