Personal Financial Planning Part II: Miserable Millionaires - Preview
Money not only doesn't buy happiness, it can also bring misery.
A Counter-Intuitive Truth
While everyone has heard the phrase “money doesn’t buy happiness” most people aspire to achieving some degree of financial wealth. It is a commonly accepted belief that millionaires have ‘made it’ and are all set. This is inaccurate and in this article I will explain why.
True Stories of Miserable Millionaires
(1) The famous pop singer Michael Jackson was (on paper) a true multi-millionaire. But he mismanaged his finances so badly and ruined his credit so irreparably that he was unable to buy a cell phone in his own name. (See the recent biography of Jackson written by two of his former security guards, Whitfield and Beard – “Remember the Time: Protecting Michael Jackson in His Final Days.”)
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