What is the most common reason rich people go broke?
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.
How rare are millionaires?
In fact, most Americans are unlikely to ever become a millionaire. Estimates vary, but they range from about 12 million to 24 million millionaires in America. While that sounds like a lot, even the upper limit of that range is less than 10% of the approximately 332 million people in the U.S.