I don't know who needs to hear this, but the #1 way wealthy people lose their wealth is malinvestment, not overspending.

The problem with investing wealth is that you think you're growing your money, when in actuality it really depends on what the investment is.

With materialistic spending, alarm bells go off pretty quickly when you spend too much.

You'd think to yourself, "Damn, did last night's party really cost me $15,000?"

That doesn't happen when you invest $2m in your friend's restaurant who over time mismanages it to the ground.

The fact is, the richer you become, the more diversified and conservative your portfolio should be.

You have no business investing in startups and small businesses or even undiversified equities.

Let alone (gasp) Bitcoin and shitcoins.

You can have an "aggressive" component of your portfolio, yes, but the majority must be geared towards preservation of capital.

You like living off your investment income and not having to work, right?

Then don't get greedy and fuck it up.

This goes out to all of you.

If you happen to somehow make life-changing money, seriously take it off the table and snap back to reality.

Don't be a hero and "wait and see where it goes."

Don't be the moron who's lucky enough to make it yet stupid enough to give it all back to the market.

Be humbleD.