4 reasons it’s not so great to be rich

When you think of money problems, you usually picture issues that arise because you don’t have enough of the green stuff. But have you ever thought about the issues that come from having too much cash? Here are four reasons Money.com says it’s not easy being rich…

You find out who your friends are: When you have money, you may attract a different kind of “friend.” Hopefully you’ve surrounded yourself with “real” people who are true friends, but if the money disappears, you may quickly find out who was around simply for the benefits your money provided.

Kids are lost: Money can be damaging to your children’s development. When kids grow up entitled, living in a “bubble”, they can really be detached from reality. Money can provide your children the opportunity to freely chase their dreams, but make sure their dream isn’t to sit by a pool and have everything given to them their whole life.

Everyone wants a handout: Sometimes family and friends will try to take advantage of your wealth. Remember, you’re not a bank. Lending money will have an effect on your relationship, and you may never get that money back. But also, don’t be afraid to help someone achieve a dream if you feel they’ll work as hard with your money as you did to earn it.

There’s a lot to worry about: As The Notorious B.I.G. song says, “It’s like the more money we come across, the more problems we see…” Problems can arise with friends, family, lawsuits, business partners, or the stock market. Some problems aren’t easily fixed by having money. I think we would all rather have too much cash than not enough of it, but it’s still something to think about.

John Pettit

John Pettit

John Pettit is the Managing Editor for CUInsight.com. Using news, community posts, press releases, jobs and events, he keeps the credit union movement digitally informed throughout the day. Web: www.cuinsight.com Details

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