IT'S NOT HOW MUCH MONEY YOU MAKE, IT'S HOW MUCH MONEY YOU KEEP

Most people fail to realize that in life, it’s not how much money you make, it’s how much money you keep. We have all heard stories of lottery winners who are poor, then suddenly rich, then poor again. They win millions and are soon back to where they started. Or stories of professional athletes, who, at the age of 24 are earning millions of dollars a year, and are sleeping under a bridge by age 34. In the paper this morning, as I write this, there is a story of young basketball player who a year ago had millions. Today, he claims his friends, attorneys and accountant took his money, and now he works at a car wash for a minimum wage.

He is only 29. He was fired from the car wash because he refused to take off his championship ring as he was wiping off the cars, so his story made the newspaper. He is appealing his termination, claiming hardship and discrimination and that the ring is all he has left. He claims that if you take that away, he’ll crumble.

In 1997, I know so many people who are becoming instant millionaires. It’s the roaring 20’s one more time. And while I am glad people have been getting richer and richer, I only caution that in the long run, it’s not how much money you make, it’s how much you keep, and how many generations you keep it.