The Pro' and Con's of Having Exorbitant amounts of Money ?

[Philip]

A lot of people who have lots of money - and that aren't necessarily millionaires, but still have flush bank accounts - are extremely stupid with their money. I worked in a corporate environment for about 15 years with the top income guys making obscene brokerage fees. When the recession hit, many of them were sucking wind because they owned too many toys and had too many monthly bills at a time when their annual incomes plunged. A lot of those guys had second homes at the beach or mountains. Crazy, you just don't have to own a place that you only use once or twice a month. And who wants to go to the same place over and over, have taxes, upkeep, security fees, property management fees. You can only drive one car at a time, etc. A lot of those guys lost a lot of their stuff, or either they tried to stay above water with the constant worry and stress of trying to make the bills. A mountain of debt can be built by just one wasted dollar after another, but a lot of people want to live like kings - or look like they are doing so - and if they can make the monthly payments, that's all they care about. And yet some rich people are very frugal - which is exactly how they got that way. But their kids inherit daddy's money and company and often aren't good with money, business or people, as it was all handed to them.