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Sometimes, they make decisions that end up costing them significantly more money since they have more to lose.
A prenuptial agreement is a legally binding contract a couple signs before marriage.
But not everyone gets one.
As of December 2024, Bezos net worth is sitting at about $239 billion.
It might not be very romantic, but it can sometimes be necessary.
But youd be surprised at how many people who make six figures or more struggle with money.
According to PYMENTS, nearly half of people earning at least $100,000 a year live paycheck to paycheck.
Even high-net-worth and ultra-high-net-worth individuals can overspend on things that fuel their luxury lifestyle.
But just because they have a lot of money doesnt mean theyre well-versed in budgeting or handling it.
One example is the actor Al Pacino.
He also had 23 different cell phones and 16 cars.
He went from a $50 million net worth to practically nothing.
Buffett didnt pay for that company using cash.
People have made worse investments, but this was a particularly costly one.
You might not always recognize a good investment from a bad one.
You might even have to take a few risks that dont pan out before building long-term wealth.
What matters is learning from those mistakes and working to avoid them in the future.
Some experts recommend having even more, especially if you have a particularly expensive lifestyle.
But even wealthy people dont always follow that rule.
Jackson filed for Chapter 11 bankruptcy due to debts totaling $36 million and assets under $20 million.
Coppola has filed for bankruptcy three separate times.
While bankruptcy can be a solution to your money troubles, it should almost always be a last resort.
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