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July 27, 2008


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Many sports figures have proven this to be true. As you said they do not have the skills to handle the money and if they hire someone they misappropriate the money.

It's kind of funny because the people that know how to handle money, are exactly those who don't buy lottery tickets.

Yes the first thought that popped to my head was lotto winners.

If you have some crazy surgery that takes a bunch of weight off, but you keep up the same habits that put on the weight in the first place, you're going to end up fat in a few years. If you end up injured and gain weight over time because you're immobile, you'll take the weight off once you're on your feet again, provided the injury isn't so extreme that you never recover. The only way you'll change your weight long-term is to change your habits long-term.

The same is true for wealth. If you spend your money unwisely, lotto winnings, inheritance, etc. will disappear quickly and you'll be back to living paycheck to paycheck. If you spend your money wisely (which means, among other things, you DON'T BUY LOTTO TICKETS) you'll recover just fine from unexpected costs, provided they're not too extreme.

With both weight and wealth, your habits are far more important than all but the most extreme one-time events.

I find it hilarious that the ad accompanying this post in my RSS reader featured a cartoon guy in glasses with the statement, "I'm rich. You're not. Click here to find out how I make $3 million a year!"

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