so most people like the idea of getting rich which is why so many people buy
into these get-rich-quick schemes well having more money can ease financial
stress and give some level of freedom it can also come with a lot of potential
downfalls when it comes to you very quickly every person in situation is
different but there are some common problems associated with getting too
rich too quickly one of the first potential problems that comes up when
people get too rich too quickly in a short amount of time is that it can
change them pretty significantly when you make money quickly you don't have
much time to settle into a new lifestyle you're thrown into it it can go to your
head and you can start indulging in lavish habits and developing it an
expensive tastes now this isn't a bad thing in and of itself but if your
attitude changes with your lifestyle you might start to behave in a way that
comes off as snobby or pretentious to the people around you and that's
significant among the challenges that a sudden increase in money brings the
strain in relationships is said to be one of the hardest you're changed
persona can contribute to this but even without any change in you the new
financial situation can make you feel isolated from friends and family being
able to afford a different kind of lifestyle often leads your loved ones
behind because they don't have the money to take part in the same activities you
might think that including them in your new adventures can sidestep the problem
but that you don't want them to feel awkward about the cost that you're
covering for them where the problem might be as simple as them seeing you
differently and then acting differently around you markus persson the founder of
mojang the company behind minecraft sold his business for 2.5 billion dollars he
later tweeted hanging out in Ibiza with a bunch of friends and partying with
famous people able to do whatever I want and I've never felt more isolated see
even with his friends and surrounded by a whole bunch of people the sense of
isolation persisted gaining wealth quickly is likely to wreak have it on
relationships whereas becoming awfully over a long
period of time allows you and those around you to adjust to the change more
smoothly envy is another issue that can get in
the way of your relationships money is something that most people want more of
even if they already have enough that they can afford everything that they
want when you suddenly have a lot and they don't your friends and family can
become jealous of what you have and even bitter about the fact that you have it
their feelings will start to form a rift between them and you because it's based
on their own feelings and not something that you did to them and because that
it's based on their own feelings and not something that you did to them there's
little that you can do to resolve the problem it's something that they have to
work through and you can only hope that eventual
they'll be able to accept the fact that you have became wealthy and moved past
it it's another instance where a slow
increase is better since it gives everyone a chance to adjust to change
over time you aren't responsible for how other people feel
but you aren't affected by when they don't react well to your newfound wealth
some people might even start to have rumors about how you gained the money a
lot of people like to spread rumors about you doing it in the wrong manner
you won't only notice a change in relationships because of how other
people feel about you though you'll feel differently about some of the people
around you - now we've established that money changes people and and it can
change your friends and family you might find that some of the people you care
about start to ask you for favors investments or loans this can cause you
to feel uncertain about your relationships especially new ones do
they like you for you or do they just want you for your money
experiencing this kind of behavior in just one friend can spark paranoia about
all your other relationships - when you accumulate money over time it doesn't
seem as dramatic as an increase in wealth and people are less likely to see
your financial gains as an opportunity for themselves when it comes all at once
they see you as having enough of an abundance that you could spare some and
some people might even be bold enough to ask you to share your relationships with
people aren't the only ones that can go through changes how you relate to money
and your belongings will change - starting with a modest income and
accumulating wealth gradually creates a scenario where you recognize its value
clearly because your money has to be managed wisely for it to grow coming
into a lot of money in a short amount of time like winning the lottery or one of
your parents passing away you can feel like you have plenty to spend and you're
more likely to splurge you feel that you can buy expensive things whenever you
want and the value of those things is diminished because you haven't had to
wait or save up for them you can easily get what you want whenever you want it
you become less appreciative of the things that you have or that car that
you dreamed over that house that you've always wanted to get it doesn't feel as
exciting or significant as it what if you had to wait and save up to get them
when the things that you've always dreamed of become easy to attain it's
common to feel that you've lost a sense of purpose in the past if you've set a
goal that required money to pay for whether that was to take a trip start a
new hobby or some other major purchase it became motivation for you to work
towards it even if you were steadily becoming richer maybe a dollar a day
five dollars a day a hundred dollars a day you had
and you had to wait until you were in a place where you could spend the money on
what you wanted and still have money in the bank if you suddenly become rich you
can buy whatever you want as soon as you want it you might find things with fewer
things you have to spend time working towards have you ever played the Sims
and used a cheat code to start the game with a ton of simoleons well you
probably jumped right into building a huge house and all the most expensive
items then you played for a little while and you got bored because you already
had everything also with our minecraft reference it'd be like playing Survival
for 10 hours and then you jump to creative and it's just not as fun
getting too much wealth in a short amount of time is a lot like this you
can't set goals that aren't dependent on money but most material desires that
acted as motivation in your past disappear because you can fulfill them
right away it can make you feel like there's a lack of purpose in your life
like there's little left to work toward with all of this considered it's
understandable that there can be many mental health ramifications with getting
rich too quickly you can lose balance and fall into depression feel guilt for
having more than others when they need it or in poverty or develop anxiety over
not knowing who to trust or how to hold on to your money any significant change
in a short period of time can throw off any individual into mental instability
and that includes becoming rich even if it initially seems like a great thing
thankfully if these things happen they don't have to last the effects of
becoming rich quickly have been carefully examined by psychologists and
one expert dr. Stephen Goldberg he coined the term sudden wealth syndrome
to describe the phrase that people typically experience the first is the
honeymoon phase where the individual feels powerful and is prone to spending
sprees the second is wealth acceptance where they still feel powerful but they
also realize that they're vulnerable and need to set limits it's in these two
phases where a lot of the relationship chaos and personal imbalances are felt
but then they move on to the third phase identity consolidation the individual
realizes that being rich isn't what defines them and they start to think
about who they are who they want to be in what they want to do in life in the
final stage stewardship they've settled into their wealth in a mature way and
start planning on what they want to do with their money how they can help
others as they move through the latter phases and they become comfortable with
their finances their relationships have a chance to stabilize and they feel more
comfortable with the idea of having money they learn to be responsible and
live a life that isn't entirely defined by the money they gain that's very
important when you are gaining money you also gain the
and strategic intelligence to manage the money so not everything is what it seems
typically when we think of someone suddenly getting rich it's something
exciting freeing and ultimately a really good thing and it can be it definitely
has its perks but becoming wealthy too quickly can really create chaos in your
life living you with fewer friends and an emotional turmoil
not to mention less money than you started with just ask any one of the 70%
of lottery winners who've gone broke it's better to grow your wealth over
time to start small and accumulate your riches at a steady pace because this
gives you more time to adjust and having the money and really understanding how
many works how currency flows and the chance to really appreciate what you
have and what you're working for I hope you guys enjoyed this video if
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