Azaland

People get lucky sometimes to have wealth. You can inherit so much wealth like OBO, omo baba olowo. You may win lottery. While it's hard to gather wealth, it's even much harder sustaining it. History has told of many who became qealthy but went back to poor state because they couldn't sustain it.
How do you think wealth can be sustained?

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You're absolutely right. While some people may experience sudden windfalls of wealth through inheritance, winning the lottery, or other fortunate circumstances, sustaining that wealth over the long term can be incredibly challenging. It requires a combination of financial knowledge, discipline, and careful planning.

Sudden wealth can come with its own set of challenges, including managing unexpected responsibilities and pressures. Without proper financial education and guidance, individuals may struggle to make wise decisions and may overspend or invest impulsively, leading to the depletion of their wealth.

Moreover, sustaining wealth often involves more than just financial aspects. It requires a mindset shift and lifestyle adjustments to align with the newfound financial situation. Responsible financial habits, like living within one's means, avoiding excessive debts, and prudent investing, are essential to ensure long-term wealth preservation.

Learning from the experiences of others who went from being wealthy to poor can serve as a valuable lesson. It highlights the importance of having a well-thought-out financial plan, seeking professional advice, and staying focused on long-term financial goals.

while acquiring wealth through luck or opportunity can happen, sustaining it necessitates a holistic approach that encompasses financial literacy, responsible decision-making, and adaptability to changing circumstances.

Alagbon wrote: ↑July 29th, 2023, 11:53 amBy getting more

This was a simple comment. Yet it can mean a lot. To sustain wealth, you need to keep wealth coming in. So, investing wisely for regular income is a non failing strategy to sustain wealth.

Ask Robert Kiyosaki.

Good financial management

Investment