Afflicted by Sudden-Wealth Syndrome (SWS): Lessons on How to Blow a Fortune by George Haynes instant download

Afflicted by Sudden-Wealth Syndrome (SWS): Lessons on How to Blow a Fortune by George Haynes instant download

Do you ever think that lining up the numbers for a big Lotto win would make your life so much better? Or if you could throw a football a little better you would have such a glamorous everafter as a sports star? That dream could be a fact for some people but for a significant number that dream collapses in the face of reality. The author has some amazing stats that tell the story.

Of all the lotto winners who win more than $50K, that includes the mega million winners, 44% of them will spend all their money in less than 4 years. Lotto winners have 2x the bankruptcy rate of the general population. 80% of all NFL players will declare bankruptcy within 2 years of retirement. The NBA is slightly better with only 60% declaring within 5 years of retirement. How do you squander a fortune?

When reading the book, its awestruck about how anyone could just fritter away $400 million, as was the case of several boxers, in less than a lifetime. Without a doubt these people are all naïve about money. They all can manage a regular sized paycheck for sure, but the use of big money requires specialized training and skill to be used effectively and maintained. Unfortunately these people learn that lesson, but too late. If it was just lost money, that would be a sad enough cautionary tale. but for many the money brings with it the additional loss of their friends, their family, and even in the end , their life. Several times the book quotes these unfortunate winners wishing that this fortune had never come to them.It is something to keep in mind in case the lotto lines up for you. It is a great read and highly recommend it.