Reply to Is it normal to have no idea about family money?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you don’t know about it, consider it gone.

$10 million sounds like a lot of money but it’s easy to lose or spend most of it in a lifetime, even if you’re not wildly irresponsible. Spending more than you earn or long term care for an elderly person and poof.

If there’s a trust that will be relevant to you, you would probably know about it.

When family money changes someone’s young adult life, it’s either inheritance from a grandparent or gifts from a living parent. It’s not so much the prospect of inheritance. [/quote]

Outside of gambling and speculation, spend >$100K year more than you earn is quit challenging to do secretly.

* Be unemployed
* Somehow avoid earning >$300K/yr in interest
* Have an outrageously expensive yet invisible home

You could maybe pull it off with a bad non-fatal disease and no health insurance. 
[/quote]

Oh no, it’s so easy! Live in a nicer house. Live in a nicer neighborhood. Buy a dumb car. Lose some on bad investments. Take up an expensive hobby for a while. It’s sooooo easy. [/quote]

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