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Money and Finances
Reply to "Time for some “riches to rags” stories."
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[quote=Anonymous]That's because "riches to rags" is much harder to achieve than the reverse. If you define "riches" as having $5M, any reasonably intelligent person can go from rags to riches (though, admittedly, over the course of many decades). But going from $5M to $0 is much harder. That capital base can generate $150K forever. So as long as you don't draw more than that, you can't go broke. Only some extreme medical cases, including addiction, or a sociopathic personality could deplete that type of capital base.[/quote]
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