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Here are five ways wealthy people lose their money and how you can avoid it. Unnecessary Expenses More money can only mean more problems for some people, mainly if they are prone to overspending.
3. Maintain a healthy cash reserve. The rich understand the importance of liquidity, or easy access to your money. A healthy cash reserve acts as a safety net for emergencies, allowing you to ...
Rich people often invest in collectibles like artwork, rare coins, antique cars, wine, watches and other tangible items that bring the collector pleasure and could increase their wealth. There are ...
“Wealth is built and preserved through careful planning and an unwavering commitment to making informed financial choices,” he explained. Below are the top money traps wealthy folks never fall ...
For You: 4 Subtly Genius Moves All Wealthy People Make With Their Money Below are some of the top things quietly wealthy people do, according to experts. Also see five ways to build your wealth ...
Even if you’re not yet at a level where you can put away 25% of your income into savings, Lee recommends starting with at least 10%. The important thing is to begin somewhere and build from ...
Read Next: 5 Subtly Genius Moves All Wealthy People Make With Their Money Take a look at the following five things the wealthy won’t waste their money on . DuxX / Getty Images/iStockphoto
The vast gulf between average and median net worth demonstrates that a relatively small number of ultra-wealthy people are skewing the numbers — which means that many of the people around you ...