What Do You Do When You Get Rich?

Before I start, I will like to state that wealth and riches is relative, what is considered wealth to one might not be the same to another. But let’s focus to the people who are worth less than $10k who haven’t seen $10k before.

If you see a poor person or someone who is worth less than $10k who is currently surviving to live in terms of paying their bills and not being able to afford luxury like getting a new mobile phone, having a car or going on vacation. When you approached such person and ask them, if they suddenly got rich, what would they do with their money? Most of them will say lots of things that is based on fantasy, like buying an expensive sport car, party, travel on unnecessary vacations, buy expensive clothes and jewelry. This is because, they are trying to satisfy their fantasy, but after few months of experiencing all those, the euphoria will come down and they will go back to feeling the same way they used to.

source
As a matter of fact, most of them will squander the money and that sport car they got, they will end up reselling it because maintaining it will be so hard. They haven’t gotten the access to have a sustainable means of income that will help them maintain the car and the lifestyle they just created. So here is a better advise, when you get a huge amount of money that makes you rich over night, don’t just jump and start living a lifestyle you can’t maintain. It’s better to get there gradually, first of all, increase your quality of life, don’t go buy an expensive car, get a very good standard apartment, not too Luxor flashy but of great standard, may be 1/8 the value your wealth.

Investment that can help you generate approximately 20% APR that is enough to take care of all your bills for the year. Helps to help you take care of your domestic chores, things that make you feel good, it feels so good having someone take care of your laundry and your food. After this all set, now you can afford to go on vacation, it won’t hurt you financially. After few years of nice financial investments and have multiplied your wealth, you can see that you are now living a beautiful lifestyle that you can afford, now you can get that sport car.