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  • Writer's pictureSteven Abrams

“A fool and his money are soon parted”

Foolish Person

A foolish person is unlikely to maintain or acquire wealth. According to some studies, two-thirds of people who win the lottery will go bankrupt within 5 years! Some people get rich from Inheritance or the lottery, but unless these people know how to invest their money wisely, they will be bankrupt shortly after. Imagine winning a $50 million lottery only to find yourself bankrupt soon after. The saying, “a fool and his money are soon parted” means two things, a fool can’t keep their wealth and it is easy to get money from a foolish person. These overnight multi-millionaires never worked hard for their wealth. They probable struggle making ends meet with their normal income and have no idea how to invest wisely. Some of these instant wealthy lottery winners invest in businesses without the proper knowledge or skillset to evaluate the business and end up losing millions on bad investments.

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