Yes these are the youngsters who typically inherited wealth from their dead parents. They will quit their job and act big. The will spend the wealth on drinking, partying, womanizing, flashy sports cars, and invest in things they know nothing about. In the end, they lose it all.
This is unlike the investment savvy bankers who made their own wealth in their highly paid job and retire early to manage their own wealth. These types usually will be able to grow their wealth exponentially as they are experienced in banking and investments.
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Originally Posted by Unregistered
At least you now realised your mistake and admitted it is your own fault and take personal responsibility that you will have to work way past 55.
There are irresponsible people who retired young thinking they have made it. They are the ones who will wake up too late, find out that their money is not sufficient to last the distance, that they are no longer employable and will be depending on hardworking people like you and me for charity.
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