most rich folks waste their money.
Psychologists have coined the term "wealth fatigue syndrome" to describe a set of symptoms commonly found in the super rich: clinical depression, paranoia, and out-of-control spending. Without having something to do, like a day job, many people choose not to do anything productive at all. Sure, we all think we'd dedicate our lives to our families, or helping the needy, or finally pursuing our passions -- but we also think we're going to go to the gym on our day off, and look at how that usually turns out.
Wealthy families are walking along a financial cliff and could plummet at any moment. No matter how much you earn, a boneheaded son named Chaz can blow it terrifyingly quickly. Wealth consultancy firm the Williams Group studied wealthy families and discovered that 90 percent of them lose their wealth by the third generation.