There’s no one guide or list of things that you need to do upon becoming rich, and there’s no real benchmark for what it means to actually be rich, either.
We can get a pretty good idea of it, though, and because of that, we feel like it’s appropriate to run through some of the things that are big no-nos in when handling newly discovered wealth.
It’s all about maintaining that same essence of who you’ve always been, as opposed to drifting towards the dark side and making a series of bad decisions in the process.
10 Get Lots Of Credit Cards
Credit cards can be useful, depending on just how much money it is you want to spend and what companies you’re going with. However, if you get a few too many and get carried away, problems will arise.
Credit cards are much easier for the rich to use because all you need to do is swipe away and you’re off to the races. Even with that being the case, though, it’s dangerous if you don’t look a little bit deeper and really keep an eye on what it is you’re doing and how much you’re spending.
9 Go Into Stocks
The facts and figures behind stocks are always thrown out there as a quick and easy way to make money, but let’s be honest with ourselves here. Nobody knows for sure what’s going to go up and what’s going to go down. You’d need to be a psychic in order to do that.
Consult a financial advisor if you’re attempting to break into this sort of thing. Not knowing what you’re actually doing could be seriously detrimental to your long term finances.
8 Search For Compliments
Regardless of whether you’ve built up some form of wealth by yourself or you won the lottery, a little bit of humble bragging always seems to sneak through the net.
There’s not necessarily anything wrong with it and you’re well within your rights to do so, but if you just want to draw a compliment out of your companions, that feels a little bit wrong.
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There are plenty of other ways to go about handling your wealth without making yourself look foolish, vain, or both in front of others.
7 Start Your Own Company
The problem with starting a company, as many know, is that it needs to be a carefully considered decision. It should be done on a whim.
From hiring the right people to actually building up a space for the company to function in, this doesn’t seem like a practical idea – unless it happens a year or two down the line, in which case, good for you.
If the person with this wealth already has a company, getting a second still doesn’t seem smart.
6 Advertise Your New Wealth
Facebook. Twitter. Instagram. Snapchat. Shouting through your mom’s mailbox.
It doesn’t matter how it happens: just don’t do it. Advertising your wealth isn’t just arrogant, but it’s also incredibly dangerous.
If people are now aware of the fact that you either carry lots of money or have lots of it stored away somewhere, you could quite easily become a moving target.
Without the proper security, things could go south quick, and while it sounds like we’re being overdramatic, we’re not. This isn’t an audition for a TV drama. This is real life.
5 Lend Lots Of Money To People
They may have every single intention to pay you back really quickly, but that’s not really what this is about. It’s about the principle that you shouldn’t lend money out for its own sake, and you shouldn’t be doing so because you believe it’ll make more people like you.
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It causes a blurring of the lines which ensures that nobody really knows where you stand anymore. Money is a very powerful tool, unfortunately, and that’ll continue to be the case for as long as time progresses.
4 Instinctively Move Abroad
Moving down the road to a shiny new house is one thing, but jetting off abroad is a completely different thing altogether.
There’s a neverending list of risks involved in putting yourself out there like this, and there are more careful considerations to be made than that. From working out the tax issues to leaving your loved ones behind to having to learn a whole new language or way of life, there are absolutely no guarantees that it’s going to be a successful move.
There are no guarantees it’ll be a failure, either, but taking some time to mull things over, research, and consult loved ones is smart.
3 Think You’re Bulletproof
Nobody is bulletproof and nobody is invincible. From a literal standpoint, a bullet will end your life regardless of who you are. From a less literal point of view, the same issues that impact poorer folks also impact the rich, too.
Mental health isn’t exactly a button you can switch off in your head. Family issues aren’t going to be resolved by throwing cash around. Illnesses can develop whether you drive a cheap Ford Fiesta or a Ferrari.
We all play by the same rules and recognizing that is healthy.
2 Start Betting On Sports
Going from placing $10 on a bet to placing $1,000 without even worrying about whether or not it’s going to pay off is exactly how people fall into the trap of getting addicted to gambling.
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Having lots of money is great and all, but don’t pretend like it’s never going to run out. Convincing yourself of that makes for an incredibly risky strategy, and whether you think you’re good at betting or not, it doesn’t matter once you’ve made that trip down the road of no return.
Just think twice and don’t start.
1 Buy A Private Jet
The primary issue with buying a private jet is that there are just so many expenses involved with maintaining it and keeping it running.
If you only want to use it every so often then it feels like a giant waste of money, but if you want to have it feature regularly in your day-to-day life, there are so many things to consider.
From ensuring it runs properly, to paying the pilot, to keeping it clean and tidy, we would instead suggest that going first class isn’t the worst idea in the world.
In fact, you’ll probably have an even better time with even more room to enjoy yourself.
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