The #1 thing to know about wealth is never spend your wealth.
‘I got a million dollars. I’m going to buy a million dollar home.’ Do you know what it cost for a million dollar home insurance?
No. Do you know what it costs a million dollar home maintenance?
No…property tax?
No. Then you’re going to blow your million dollars and buy the house?
How are you going to afford it?
Are you going to keep it?
Never spend your principle. Live off the dividends, off of your principle, off the royalties of your principle. : Frank26
