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Books > Business & Money > Finance > B01E1VPVES
  1. Afflicted By SWS (Sudden-Wealth Syndrome): Lessons on How to Blow a Fortune
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  2. Afflicted By SWS (Sudden-Wealth Syndrome): Lessons on How to Blow a Fortune

    [B01E1VPVES]
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Additional Information

How do you squander a fortune? This is the lingering question this ebook tries to answer. We look at pro athletes, lottery winners, heirs, and celebrities, that is, those whom were the enviable receiving end of sudden wealth, for a start. Though many of the case studies range from the absolutely bizarre to heart-breaking, all of the disasters result from bad decisions and bad advice. Of particular interest are the pro athletes, whose billionaire tastes (with millionaire pockets) and mind-boggling spending sprees inevitably result in an untimely visit to the office of the local bankruptcy lawyer, with the IRS knocking at the door. Just as interesting are the often il-fated lottery winners, whom just seem to be cursed from the day they first obtained their fortune. Indeed, life took many bad turns for many--even to the point of murder.

Many of the cases may already be familiar; most are those you've yet witnessed. If you are a lottery player, you will be humbled by the anguish and despair experienced by our subjects. They may incur your sympathy. The same may said of the heirs and celebrities covered--those whom experience 'sudden-wealth syndrome' but could not outlast the endless days between the big checks and the bankruptcy grim reaper. Surely, there had to be some supernatural reason behind the loss of the Vanderbilt fortune or a secret haven the Astor family have hidden theirs. It cannot be possible for so much money to just vanish within two generations...of could it?? Didn't billionaire Paul Allen spent over 300 million dollars for a yacht? Apparently, if you have enough money--literally truckloads of money--you will do your very best to spend it all as fast as you can (especially if you really didn't have to work for it). Still worse are the broken celebrities, whom, unlike so many of the others discussed, have only their looks to rely upon. Broke lottery players can always buy another Powerball ticket; penniless heirs have the family name to create opportunities; newly impoverished athletes always have summer camps and high school work; broke actors can only spiral downward, it seem, as recapturing their wealth became woefully futile. Those, such as Burt Reynolds, are just managing to stay ahead of the shadow of poverty. A dramatic case is that of the popular shopping addicted, constantly-partying Housewives (of Orange County, Atlanta, etc.), whom seemingly had money growing in the trunks of their Mercedes and BMWs. Truth is, a number of them were quite broke even as they recorded their respective programs. The book sheds light on the more enterprising SWS-afflicted, showing how frivilous spending and deviant behavior does not have to be an outgrowth of SWS.

Advice on investment is an absolute must for the SWS-afflicted, and the book is quite serious about the manner it is rendered. Here, we learn how to distinguish a fiduciary from a stock broker--which is quite important your financial stability. And, finally, we find just how much Mike Tyson spent on those white tigers!
[Long-form article]

Specifications

Country
USA
Author
George Haynes
Binding
Kindle Edition
Format
Kindle eBook
IsAdultProduct
Label
Americana Press
Manufacturer
Americana Press
NumberOfPages
468
PublicationDate
2016-04-08
Publisher
Americana Press
ReleaseDate
2016-04-08
Studio
Americana Press
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