By Adam Fayed
- Living beyond your means
- No matter how much you have got, if you start spending like there is no tomorrow, you can get broke
2. Taking too much risk (or being too cautious)
- Investments based on speculation are a bad sign
- As is high risk business deals
- But just putting money in the bank isn’t a good idea, because you are petrified by the chance of volatility and declines
- Some people who are great with general spending habits, end up with divorce lawyers bills!
- I have seen several wealthy expats in Asia lose almost everything due to this issue. People have been known to quote, `give my money to my wife as it is a cultural norm here`, and then ended up with nothing after divorce.