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Are You Getting Money All Wrong?

Don’t blow it

Admit it, you kind of feel good when you read about a rapper who used to flaunt diamond-studded rims now working in a car wash, having blown the lot. The list of billionaires who turned themselves into millionaires on their way to oblivion is frighteningly long. Even Michael Jackson, who earnt over a billion dollars in his lifetime, died half a billion in debt. Once you’ve made your fortune, put someone you trust between it and you. Preferably not someone whose business card reads ‘Accountant, construction, dry cleaning, talent agent’. This isn’t about limiting the amount of tax you pay on your income; it’s about limiting your ability to buy a fleet of Lamborghinis just because your debut song is top of the ring tone charts. In fact, as one notable billionaire noted, you should settle for renting anything that ‘floats, flies or f**ks’.

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