51. The Law of Conservation
It’s not how much you make but how much you keep that determines your financial future.
Many people make a lot of money in the course of their working lifetimes. Sometimes, during boom periods, people greatly exceed their expectations and make more money than they ever thought possible.
Unfortunately, they often develop the “walk on water” syndrome. They begin to believe that their success is because of their remarkable skills and abilities that they are using so well in a particular field. In many cases, it’s just because the economy or that particular field is booming. They assume that because they are making a lot of money, they have the ability to go on making a lot more indefinitely. They then spend everything ...
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