On Thu, 8 Sep 2016 17:40:28 -0400, Ed Pawlowski > wrote:

>On 9/8/2016 1:18 AM, Je?us wrote:
>
>>>> ==========
>>> But he has made a lot of people a lot of money as well, so that's not a bad
>>> thing.
>>
>> That's hard to know for sure. Plenty of people have made 'lots' of
>> money in the music biz, only to have it eaten away by various
>> parasites. Net result is often they're broke but 'rich'.
>>
>
>Just because you make a lot of money does not mean you know how to
>handle it.

For sure.

>I read an article recently about the many million dollar
>sport figures that one out of six is broke in a four years.

I suspect many get a taste for the high life and assume the money will
keep rolling in indefinitely for some unknown reason.

>They often
>have advisors that have their hands deep in their pockets too.

Yes, exactly. Often people in these situations are hopeless handling
finances. Michael Jackson is probably the best example... absolutely
insanely mega-rich but managed to spend it all.

That said, IMO (admittedly anecdotally) most who end up broke is due
to their management and misc parasitical hangers-on who fleece them.
The music biz in particular is replete with such examples.