How do rich people become poor?
How do rich people become poor? Poor Financial Planning Rich people who don't create a financial plan often set themselves up for failure. They not only fail to properly track and manage their income and expenses — they also fail to prepare for unexpected events that can drain their money in a hurry.
What is the most common reason rich people go broke?
The most reason rich people go broke is that they spend more money than they have. Others think they are the central bank — thinking they do not lack money — because they are automatically generating money.