Famous people that died poor

[BitBakerr1]

There's one thing you are not getting right owing does not mean that you are broke or being on debt does not mean you are not rich, rich people can be in debt but for the fact that they have enough assets, then we can't call such person's broke, before someone we have the mind to borrow you a very huge amount of money you must have an asset that he knows of and that if sold it can pay him back the money he borrowed you, nobody borrows huge money to someone without an asset or collateral, for the fact that Michael Jackson was on debt does not mean that he was broke or they don't have money one can take loan in order to expand his self  or business however one has assets that if sold can pay back the debt and that is an example of Michael Jackson he has assets, or can you tell me that Michael Jackson did not leave behind assets that is given his family money till date even if they have sold some assets to pay the money he's owing there is still some assets that is left for the family the date and they are making huge amount of money from that assets, so Michael Jackson did not die poor he died rich and wealthy.

[justdimin]

This is scary as hell,  being rich and later dieing poor with nothing to leave behind for heirs and even charity. It would have been better they were poor but later because rich before death so dependants won't suffer. This is indeed a good motivation for us to take our finances seriously and plan for the future smartly.

And how many such famous people have there been throughout history? A huge number. So what? Well, man is not given the ability to manage money properly. What's wrong with that? But he has another talent, to which he has dedicated his entire life.

Knowing how to earn and save money is also a kind of talent. Not many replaceable and outstanding personalities have it. Everyone has their place in this life.

The scary part, is getting used to a better life and then losing all of it. Obviously that is normal and we got used to it by now, but we need to realize that doesn't make it any less painful. I always give the same example, a parent dying before their child is normal, it would be a horror when a child dies before the parent, but even when the parent dies first, which is the natural part, and majority of the humanity since existence, we can't really say it's not painful.

Just because something is normal, doesn't mean it can't be painful. We just have to face the fact that if you got rich and then lost all your money, then it doesn't mean you are going to lose all your money, it's going to be hard to go back to a poor life.

[Unknown Op]

This is scary as hell,  being rich and later dieing poor with nothing to leave behind for heirs and even charity. It would have been better they were poor but later because rich before death so dependants won't suffer. This is indeed a good motivation for us to take our finances seriously and plan for the future smartly.

And how many such famous people have there been throughout history? A huge number. So what? Well, man is not given the ability to manage money properly. What's wrong with that? But he has another talent, to which he has dedicated his entire life.

Knowing how to earn and save money is also a kind of talent. Not many replaceable and outstanding personalities have it. Everyone has their place in this life.

The scary part, is getting used to a better life and then losing all of it. Obviously that is normal and we got used to it by now, but we need to realize that doesn't make it any less painful. I always give the same example, a parent dying before their child is normal, it would be a horror when a child dies before the parent, but even when the parent dies first, which is the natural part, and majority of the humanity since existence, we can't really say it's not painful.

Just because something is normal, doesn't mean it can't be painful. We just have to face the fact that if you got rich and then lost all your money, then it doesn't mean you are going to lose all your money, it's going to be hard to go back to a poor life.

we saw that kind of many examples in our village ,town or city because people who are financial literate they will  hold the money and they will invest that money on good investment. The people who don't know about investment,then they could lose all their money which they earned in a short period of time . Most of the rich people got success and they became millionair in a day because they got success but they have skill to earn money and that happened to the most of the ethlete because they could be addicted in many things and they could enroll in betting which will make them poor . People always try to earn money but the people who got success slowly they will manage the money with excellent effort.

[Iamgoat]

The scary part, is getting used to a better life and then losing all of it. Obviously that is normal and we got used to it by now, but we need to realize that doesn't make it any less painful. I always give the same example, a parent dying before their child is normal, it would be a horror when a child dies before the parent, but even when the parent dies first, which is the natural part, and majority of the humanity since existence, we can't really say it's not painful.

Just because something is normal, doesn't mean it can't be painful. We just have to face the fact that if you got rich and then lost all your money, then it doesn't mean you are going to lose all your money, it's going to be hard to go back to a poor life.

we saw that kind of many examples in our village ,town or city because people who are financial literate they will  hold the money and they will invest that money on good investment. The people who don't know about investment,then they could lose all their money which they earned in a short period of time . Most of the rich people got success and they became millionair in a day because they got success but they have skill to earn money and that happened to the most of the ethlete because they could be addicted in many things and they could enroll in betting which will make them poor . People always try to earn money but the people who got success slowly they will manage the money with excellent effort.

If in the world of today, people stop investing in one asset or the other, the ripple effect which will be felt would have been disastrous because money will end up revolving around only those in the government and nothing for the private individuals or companies. Imagine when money is not in circulation in the hands of people because they don't invest rather they spend, and those few individuals who are in govt will be the ones to enjoy their labours. Investments whether in money or in material shares is a key critical part in every businessperson, they do not joke with it and won't allow mix it with pleasure.

Many of the people who understands the value behind money and investments will always find a way to grow and to also consider sustaining their wealth regardless of what they're making either as income or return on Investments. But People who don't know the value which is behind making money and building investments will often lose it as fast as they got it without making any important any tangible results of it. Gambling and overspending are two factors which make life difficult for anyone who in possession of wealth , so learning how to avoid it is a ticket to freedom of wealth on its own.

[Churchillvv]

The first page of the thread was shifted from the core reason of the thread to discussing people who the article considered poor at death while it’s a misconception from the article but however the discussion is quiet a significant thread that should be treated in our lives, taking things very seriously especially our financial lives is very good because you could make all the money today and end up losing them later in life if you don’t take investment and precautions now.

I have seen many rich die poor and it’s a lesson to us, we must not wait for the experience to happen closer before we learn however we can use those gamblers who went broke for their reckless habit  as a lesson to stay on our investment because it’s very important as it will keep us and fund use during times we might lack strength for work.

[PX-Z]

The people on those lists weren't necessarily poor when they died, but it's fair to say they managed their finances poorly during their lifetime. Passing away while still in debt can create huge problems for the bereaved family, although, just like in Michael Jackson's case, any remaining property is typically turned over to the lender or the state to pay the debt.

[fruktik]

we saw that kind of many examples in our village ,town or city because people who are financial literate they will  hold the money and they will invest that money on good investment. The people who don't know about investment,then they could lose all their money which they earned in a short period of time . Most of the rich people got success and they became millionair in a day because they got success but they have skill to earn money and that happened to the most of the ethlete because they could be addicted in many things and they could enroll in betting which will make them poor . People always try to earn money but the people who got success slowly they will manage the money with excellent effort.

Who told you that rich people don't lose money? Do you think they are any different from others? If you have such an opinion, it is a bit naive. Why? No one in this life is given to predict the rate of an asset in which money was invested. It is given only to make an assumption and nothing more. That is, to consider a potentially possible scenario. Everything else can only be attributed to probabilities. Do you think there are wealthy people who lost all their capital at one moment? This is a rhetorical question.