Yes. If you do not have financial knowledge, even if you were to win a million dollars, you will definitely become bankrupt.
Here’s why: The above picture is an example of some of the things one may buy the moment he/she wins a million dollars. However, all these are liabilities, in other words, things that does not pay you cash constantly.
Why don’t you buy some of these instead first?
You can buy the things that you want but you should buy assets FIRST! You should buy something that will consistently pays you first otherwise your money will just vanish and that’s the end of your TOTO winnings. This is why a millionaire can become bankrupt if he/she does not spend it wisely. Spend it on something that pays you first and then you slowly get the things that you want while you’re still being paid by your assets!
Simple formula but it’ll definitely work!
Get yourself financial educated today!
As the video from Tim Sales says,
If you think knowledge is expensive, wait till you see how expensive stupidity is!