Yes, it's important to emphasise wise spending and investment. I've heard several stories of sudden wealth that vanishes rapidly. One of the biggest issues is ignorance about finances. When people get their hands on a significant money, they often assume it will last them a lifetime. They spend mindlessly. And where does it leave them? Broke, stressed, and in debt
I believe wise, intentional investing is necessary to maintain and grow wealth. Investing in equities or Bitcoin has power. I see it as a way to diversify and possibly create wealth, despite the risks and volatility debate. Again, a plan and knowledge are crucial. Wealth is money management, not just money
Indeed, it would be better if we could manage our spending on investing. If we cannot control our spending on investing, it will be very detrimental if we experience losses and don't have any money left so we can't meet our needs. If they spend money without thinking, of course they have never experienced the difficulty of earning money, so when they use their money they don't think about anything.
I really agree with you that in investing we really need to understand it well, not just have money and then invest, we need to understand it well so that we can overcome obstacles if there are obstacles in investing. For those who can manage their finances well, of course they will become rich with their money and for those who can't, of course they will never be able to because they keep spending their money and only realize it when there is no more left.