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Gotta take issue with this point (somewhat).the reason why black dudes go broke is b/c a lot of them never knew money management coming up b/c they were poor as ****...
the same w/ lotto winners... it's not just a black thing, and i hate that it's perpetuated like that. look at the amount of lottery winners that go broke...
i can bet money if you look at prior income to wealth, it's directly correlated w/ how fast they lose their money... you have SOME outliers
Was I living paycheck-to-paycheck when I was working retail for $8.50/hour? Absolutely.
HOWEVER: was I living paycheck-to-paycheck when I got a job making $21/hour? Absolutely NOT.
Why? Because I understand that lifestyle inflation is stupid.
It's not like I was extremely privileged all my life...I was raised by a single mother that made $30K a year. I was just fortunate enough to learn to live within my means from her.
It's not a "black" thing, it's not a "poor" thing, it's a "stupid" thing...and stupid people come in all colors.
Lotto winners are a bad example. I've never encountered a smart person that buys lottery tickets regularly.
The lottery is pretty much a tax on people that are too dumb to understand probability.
I maybe wrong, but I think Ricky is referring to how a lot of lotto winners blow their winnings and end up broke.
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