Don_DickleHow come most celebs/influencers go broke with in a short amount of time earning a couple million? Why not invest in local stores or offer money for a percentage of said store why not perpetualy money
Expensive lifestyle until it’s suddenly all gone.
offer money for a percentage of said store why not perpetualy money
wat
Perhaps we need to work on writing one sentence clause, putting the phone down, and then finishing it once the brain recharges? Every post OP has a stroke about half way through.
In answer to question: because people do not do well with sudden increase in net worth and quickly adjust to a higher lifestyle than they can afford. Why don’t they invest in a local store? Because the rate of local small business failure is abysmally high. That’s why banks exist - at the most simple, you lend them money, and they lend it out, and pay you a bit of the profits they make. Hopefully they distribute the risk appropriately.
What is wrong with my writing?
GreenBeardIt’s broken English with poor grammar. “Why not perpetually money” doesn’t even constitute a complete thought, let alone a complete sentence. Most ESL people I know with more than a few months of practice can express themselves in English better than that.
Well then don’t read it if you don’t like it or comment sorry im not a Tik Tocker generation to dumb down so for the insta minute mindset.
Dumb down? There is nothing to dumb down, it’s just that the build up of your sentences makes them hard to read.
Well you keep going posting about it. You took time out of your day to post something negative about another person. Kind of seems like that much effort you must love me and my writing.
randomdeadguyIt’s not a personal attack, we’re confused because you didn’t finish the sentence.
Well you can take it that way and double down.
Or you could look at the criticism and think to yourself “maybe they have a point, maybe I should slow down and make my text readable before posting an unreadable mess”.
Listen friend, I don’t know how much brain damage you’ve suffered, but if you hadn’t noticed I’m using complete sentences and proper punctuation, so I’m quite likely older than you are. You should probably try to cut back on the substance abuse. Anyway, people don’t tend to invest locally. That’s not how investment usually works unless you spent decades learning how to invest, instead of learning how to be a celeb/influencer. The smart ones stick their money in index funds, the ones that think they’re smart stick their money in crypto, and most spend themselves into the poorhouse, with more debt than they started with before they made millions. If you are looking for seed capital to open a laundromat or something you’ll want to find a bank or investment firm to pitch your business idea to, not the kid on the corner who makes more money taking pictures of his lunch than you’ve made in your whole life. I’d recommend some remedial English lessons before the pitch meeting though. Maybe Pedro down the street, he seems to be more comfortable with English than you do.
Celebrities tend to have very unpredictable cash flows, but most things the wealthy spend money on (including local investments, etc.) come with loans that need to be paid regularly.
If you don’t know how to handle money, getting a couple of million isn’t going to help. You will fuck it up.
jrs100000I assume you mean in parts of the world where traditional investments arnt available to most people? The influences I know about personally did try to start businesses, but they knew nothing about starting a business and picked their business partners based on family relationship rather than business experience. Also, they chose one of the five “template” businesses that the government recommends at the small business seminars, and theres just not much market for homemade peanut butter or dish soap. Also, their church, family and spouse had ever increasing demands, and they need new clothes, a car and a new house to reflect their new status, and they took big loans for that. Then the algorithm shifted and their engagement and income collapsed without warning.
OriginEnergySuxNot everyone is smart. Not everyone has the same capabilities as everyone else. Not everyone’s situation is the same. Could be a bunch of reasons aye mate.
One of the big 4 banks here asked our group a question in a job interview once: what would you do with $1 million? Most answers were “id give half to charity and half to my family” or “id give it all to charity”. The only people that were hired (a small few) were the ones that talked about how they would invest it to setup a passive income.
Maybe that helps paint the answer, i dunno, but that really stood out to me when I was younger.
For a lot of people, money isn’t a number but an on/off switch. Self control in choosing to not buy something isn’t developed, so people who come into money start spending extravagantly since they don’t have the economic limitations keeping their spending in check.
There is also social pressure to spend, since that person is likely surrounded by others with the same mindset.
78% of NFL players are in financial trouble couple of years after retirement. I imagine there’s something similar going on.
en.wikipedia.org/…/Personal_finances_of_professio…
According to a 2009 Sports Illustrated article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players, 78% of NFL players,[2] and a large percentage of Major League Baseball (MLB) players (4x that of the average U.S. citizen)[3] go bankrupt within five years after leaving their sport.[4] Originally the statement “60% of NBA players go bankrupt within five years after leaving their sport” was released by a representative of the NBA Players’ Association in 2008.[5] A Fortune magazine article states, however, that a working paper from the National Bureau of Economic Research found that the percentage of NFL players who go bankrupt after two years is a much smaller 1.9%, climbing to 15.7% after 12 years.[6]