Post
Topic
Board Economics
Re: Famous people that died poor
by
m2017
on 20/07/2025, 07:20:09 UTC
The lesson I got from looking at all these influential people is you can be exceptional in your field but if you do not know how to manage your money you might just die penniless. I personally do not want to pass away after suffering from poverty. I want my last days to be spent in bliss.
If we talk about celebrities (rich at the peak of their careers) who died in poverty, then we should pay attention to the fact that these people knew how to earn money, but didn't know how to save money. But these are very important and interrelated components of well-being. It also seems to me that such people also don't live according to their needs (excessive spending on all sorts of overpriced junk) and simply don't know how to save. While their income remains high, this compensates for excessive spending (luxury items, etc.), but as soon as this income decreases (career decline), then celebrities have to get rid of accumulated luxury items that were bought at an inflated price, but are forced to sell at a reduced price (direct loss). Bright examples of such celebrities are musicians, actors, and so on. There are many such stories.

Conclusion: in parallel with the ability to earn, you need to improve the skill of saving money (investments, for example).