What are the fastest way to destroy wealth?

[Segat]

There are a lot of ways wealth can be destroyed but there is peculiarity of each of the ways to different business type and the geographical location of the wealth owner. But all I know is that wealth can develop wings ad flow away if the wings are not trimmed. One of the ways to loose wealth is you doing your business alone not exposing it at least a trusted person which can probably take it up when you are gone.

 

[Daykas]

What you said is absolute true but that not the only way wealth can be easily lose.
I know of someone who loose almost all his wealth to addiction and wrong decision making.
Wrong decision making can lead a wealthy person to his doom and can make him more wealthier

 

[Yusra3]

The shortest paths to wealth destruction lie in pooling resources on short sighted and risky investments, gambling, or binging in shopping. Risky financial decisions like a crypto bubble or an overnight fall in the money saved in a locked box may easily turn a life savings into a heap of dust. College students should learn how to distinguish needs from wants so that they don’t enrich themselves at the expense of another generation’s welfare. Hence, wasteful spending and excessive debt are unbearable. If the issues pertaining illicit drug usage and other addictions are attacked so do the finances since they deteriorate time to time. Another approach of squandering colossal wealth suddenly is not putting funds in a bank, planning, and spending less and wisely that can be complained about even outstanding fortunes before they know what has happened. Keeping wealth requires developing a disciplined attitude, be sensible in spending, and practise sound financial habits.

 

[saoussen5765]

I think the fastest way to lose through addiction and gambling. When are talking of wealth it isn't just money alone but also properties. An addicted gambler can loose all his or her money in a day. Another fast way one can loose wealth is lack of accountability. This is very important in life. We must be a able to make wise and accountable decision. There must be a reason to spend whether you are investing or pursuing a worthy goal.

It differs if you are a player or the person who starts the casino because if you are a person that starts an online casino betting company then spending money will only have the return of money. If you are a player then the situation differs from the beginning.

 

[moonchild]

Lack of accountability is the easiest way to lose what you've built, there are a lot of people out there that are impulsive, and just spend as their spirit leads, they don't budget, no restraints whatsoever they just spend and keep on spending, those people are almost always broke and they are on the way of losing everything they've gained or have.

I don't also think people want to lose their wealth, they just make shitty decisions that are not in their best interest and blow everything up in the process.

To mitigate this, you have to learn to be accountable to yourself.