I'm 22. I'd save most of it. Maybe get a nice apartment somewhere and a new car.
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McKinnie was over 30 when he spent tens of thousands of dollars on a birthday party for himself. That was after he took out the $4 million lockout loan at crazy interest that he defaulted on. This isn't a 22 year old kid and many of these guys who blow through their money are doing it after they retire when they are older and should know better. Mark Brunnel for example lost his money at 40. I understand your point but it's rarely the rookies who lose it all. It's after they get that second big money contract that they lose control.
Not saying you wouldn't, personally, but there is talkin' the talk...and then there is walkin' the walk.
When some people come into a lot of money, it changes their decision-making and they do a lot of stuff they probably didn't think they would do when they were not as wealthy. By the way, that can happen at any age.
But there are some people that stay the same (see Sam Walton, for example).
Why is this in the McKinnie thread?
Deserved its own thread, the thread hijack not withstanding.