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June 06, 2008


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Some people are good at making money, but if they can't continue to make money, than they need to learn how to 'spend less than they make'. Many people are lucky to find a large sum of money in their prime of their career, but holding on to it is another skill. Most people (like me) have not found my pot of gold yet, but I'm working on my 'spend less than you make' skill everyday.

This is similar to those who win the lottery or obtain a windfall through other means. Sometimes it's really hard to control your spending but I can not fathom (probably because I'm millions of dollars off) spending millions of dollars. If I were to spend millions I would be buying business, franchises. Rappers are another example outside of sports. Many rappers suddenly become millionaires and they spend the money on junk. Other rappers turn around and start record labels and become multi millionaires. Yet still, I can not fathom spending millions of dollars on anything other than stocks or buying business.

Another sad part of this equation is that often people (and that includes regular folks like us!) can't imagine a day when they won't be earning this amount of money or MORE. Really, everyone needs to have the attitude that their ability to earn an income could be taken from them at any time, and behave accordingly.

I noticed that Donald Trump is speaking up on behalf of Ed McMahon. I can't imagine why, but he's said, "We can't let this happen to Ed McMahon."

But bad stuff happens to people who don't plan well every day. Why should Ed be different? Am I missing something?

Apparently his talent for waste far exceeded his impressive boxing skills. I hear you can get a "Real Deal" on his 54,000 sq ft mansion with 17 bathrooms.

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