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Originally Posted by SundayStar
you would think that would be the case but it's usually not. how do you think they got all that money? why do so many lottery winners end up broke? people who have money hate to fritter it away. they know how to make it, and they know how to keep it. lottery winners who were previously poor have all that money and think 'hey why not buy my buddy a new car...i've got more than enough money'. in reality, if they knew how to manage their newfound riches they could buy their buddy that new car. these are not hard and fast rules but hopefully you see my point.
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Sunday the very wealthy people I have as friends or clients are exactly as you describe. They made their money in the first place by being business smart and having accepted principles that they live by and exercise in business.
No matter how passionate or generous they may be, you just don't see them throwing away insane amounts of money or making bad business deals.
I wouldn't say any that I know are in the game to make money, they realize its pretty hard to do that. But they tend to have a set figure in their minds as to how far in the hole they are willing to go in the game, either in general or per year. All they really wanna do is have a lotta fun and not lose too much money. But to play the game and stay within their principles, they have to take the rare valuable horses they get lucky with and maximize their earning potential and more importantly their residual value in the shed. Most tend to reinvest those scores right back in the game. But.................
they didn't get rich by making bad decisions.