4 Money Lessons to Avoid Losing $100 Million

NBA All-Star Antoine Walker appeared on CNBC to talk about how he lost over $100 million and the money lessons he learned. 

These four money lessons are true for everyone from millionaires to those just dreaming about the millionaire-lifestyle.

Money Lessons from a Millionaire

One of the biggest money lessons I learned was that it doesn’t matter how much you make, you’ll never have enough if don’t set limits and make saving a priority. 

1. Don’t try to keep up with the ‘Joneses’. Buy the things that make you happy and don’t over-spend on a lavish lifestyle that isn’t important to you.

Money Lessons from a Millionaire

2. Make saving and meeting your future goals a priority. It’s important to be happy now but don’t forget that someday you’ll need to depend on savings for living expenses.

1. Diversify your investments across the major asset classes; stocks, bonds, real estate, and alternative investments so no single asset can destroy your wealth.

There’s really two investing lessons here 

2. Invest according to your needs for cash and risk tolerance. Create a personal investment plan that adjusts as you get older and your needs change.

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