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A comment on Ask HN: What you up to? (Who doesn't want to be hired?). Parent comment

Re:Ask HN: What you up to? (Who doesn't want to be hired?) by muzani on Tuesday November 02, 2021 @01:41AM (#29077505)
There's a Ask HN thread, maybe a few, of people who hit it rich and later lost it. The common theme is it's easier to make lots of money than it is to keep it, which is a little unintuitive.
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Re:Ask HN: What you up to? (Who doesn't want to be hired?) by gitfan86 on Tuesday November 02, 2021 @08:42AM (#29080346)
The scenarios where that can happen:

1. Bad budgeting or lack of diversification. "95% of my money was in Enron"

2. Confirmation Bias. "I build a successful company once, I can do it again, but this time with my own money"

3. Hedonic Treadmill. "Flying commercial is so annoying, I'm going to fly private, and figure out how to pay for it later"

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Re:Ask HN: What you up to? (Who doesn't want to be hired?) by benjaminwootton on Tuesday November 02, 2021 @02:05AM (#29077629)
Do you have a link to this one please? Sounds interesting!
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Re:Ask HN: What you up to? (Who doesn't want to be hired?) by muzani on Tuesday November 02, 2021 @08:01PM (#29089282)
https://news.ycombinator.com/item?id=20521902

The good stories are around the middle.

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Re:Ask HN: What you up to? (Who doesn't want to be hired?) by davidajackson on Wednesday November 03, 2021 @01:41PM (#29097942)
Is it really unintuitive? Most Americans only save about 7% of their income IIRC, wouldn't it make sense that they would mismanage most windfalls by default? In recessions, this number jumps up dramatically, proving that it's mismanagement that contributes.
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Re:Ask HN: What you up to? (Who doesn't want to be hired?) by muzani on Wednesday November 03, 2021 @05:18PM (#29100394)
I don't believe anyone gets a windfall by saving 7% of every paycheck either. Those who ran a startup make it a habit of burning through millions a month too. What's really unintuitive for me was seeing that CFAs are terrible at personal money management.
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Re:Ask HN: What you up to? (Who doesn't want to be hired?) by ebanana on Tuesday November 02, 2021 @04:45AM (#29078602)
thanks for sharing, storing thst up in the noggin
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