1. Getting an Inheritance
Some people who inherit money spend irrationally. They go on shopping sprees, take vacations and immediately start upgrading their lifestyles.
“I’ve seen people want to buy everything from yachts to mansions that are completely out of budget after receiving an inheritance,” said Elle Kaplan, CEO of LexION Capital, a New York-based financial management firm. “There’s going to be a huge rush of emotions when you suddenly have money — but those are your worst enemy.”
Failing to separate rational thought from short-term choices is a great way to go broke.
Pages: Page 1, Page 2, Page 3, Page 4, Page 5, Page 6, Page 7, Page 8, Page 9, Page 10, Page 11, Page 12, Page 13, Page 14, Page 15, Page 16, Page 17, Page 18, Page 19, Page 20, Page 21, Page 22, Page 23, Page 24, Page 25, Page 26, Page 27, Page 28, Page 29, Page 30, Page 31, Page 32, Page 33, Page 34, Page 35, Page 36, Page 37, Page 38, Page 39, Page 40, Page 41, Page 42, Page 43, Page 44, Page 45, Page 46, Page 47, Page 48, Page 49, Page 50, Page 51
