The typical issue with people who have suddenwealth is that they don't know how aggressive or conservative they need to be in order to reach their goals. Some people think $1 million means they can spend an extra $100,000 a year for the rest of their lives, and that's a dangerous road to go down. The good thing is that Steve doesn't seem raring to do that.
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This quote is just one of 2 total Michael Kitces quotes in our collection. Michael Kitces is known for saying 'The typical issue with people who have sudden wealth is that they don't know how aggressive or conservative they need to be in order to reach their goals. Some people think $1 million means they can spend an extra $100,000 a year for the rest of their lives, and that's a dangerous road to go down. The good thing is that Steve doesn't seem raring to do that.' as well as some of the following quotes.
The typical issue with people who have sudden wealth is that they don't know how aggressive or conservative they need to be in order to reach their goals. Some people think $1 million means they can spend an extra $100,000 a year for the rest of their lives, and that's a dangerous road to go down. The good thing is that Steve doesn't seem raring to do that.
For folks who are in the 15% or 25% tax bracket, it may not be a bad idea to pay those taxes now and never have to worry about what tax brackets might become in the future.
This quote is just one of 2 total Michael Kitces quotes in our collection. Michael Kitces is known for saying 'The typical issue with people who have sudden wealth is that they don't know how aggressive or conservative they need to be in order to reach their goals. Some people think $1 million means they can spend an extra $100,000 a year for the rest of their lives, and that's a dangerous road to go down. The good thing is that Steve doesn't seem raring to do that.' as well as some of the following quotes.