Everyone loves a rags-to-riches story — but what about riches-to-rags?
Yes, sometimes people can amass vast amounts of cash, only to lose it all. A recent Reddit thread asked for the stories behind people who've gone from super-rich to broke. Maybe we can all learn something!
The Somali Civil war. My grandfather had a manufacturing company, but the war ruined it. My family used our last half-million to get our relatives out of the country. - WilhelminaHunsicker1
[An acquaintance] inherited a million dollars in cash and near-cash assets when his only parent died and he was 20 years old. Now, you aren't just going to retire at 20 on a million bucks but it's a great way to pay for college, maybe buy a car and a down payment on a house, and save/invest the rest. Basically, it's a really good way to start your adult life and nearly ensure you'll be quite wealthy in your later years.