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The purpose of this blog is help people improve their Mind, Body, Soul (relationships) and their Money.

Sunday, March 10, 2013

5 examples of How Instant Success can turn into Longterm Failure

 Instant Success. How many of us wouldn't mind a bit if we were instantly successful? Had instant fame? Or were showered with millions in a day? But failure is sometimes a decent teacher. Those who  have never failed or at least had a setback sometimes fall from great heights to great depths. The following are five stories of how instant success lead to longer term failure.

- Young stars - The Two Corey's:
The 2 Corey's - from IMDB

- If you are old enough to remember movies from the 80's (like I am) you may recall the two Corey's - Corey Feldman and Corey Haim. Both were the biggest stars of their day. They appeared in the equivalent of say The Twilight series or the Hunger Games of their day.

Well in the 90's, with millions of dollars to burn and dwindling acting prospects they both ended up crashing and burning. Haim due to drugs, Feldman due to his fame beginning to wane.

Milli Vanilli - from Gizmodo

- Overnight success - Milli Vanilli:  "Blame it on the rain, yeah, yeah" If you were to turn on a radio just about anywhere in the U.S. or in the western world for that matter in 1989 - it wouldn't be long before you heard this song's chorus echo back at you especially if you were listening to a pop music station at the time.

It would be a matter of months though before Rob & Fab - who had not been really singing the lyrics but instead lip-syncing - would have their names sullied across the globe for simply doing what their manager told them to do in order to achieve success. No matter how fleeting.

- Reality show millionaire- Richard Hatch: 

Richard Hatch - from People

- After much conniving and deception. Richard Hatch - the winner of the first Survivor Reality Show season spent all of his $1 million dollar prize and soon realized (too late) that the IRS gets a cut, even when you win large cash prizes.

Since Hatch had no money available when it was due, he ended up spending a some time in prison to make up for his unpaid tax bill.

 Once Great Athletes -William Perry -

 Again, I date myself but in the 1980's one of the biggest names out there almost to the magnitude of say Michael Jordan today was William "The Fridge" Perry. He was one of the premier NFL players of his time. He won the Super bowl and was sought out for all types of promotions.

However, like many athletes who make millions in professional leagues it seems that after making millions or even multimillions his money soon ran out and he ended up doing odds jobs in order to get by. Including, but not limited to, a celebrity boxing match.                                               

- The Lottery Millionaire - 
Jack Whittaker - from New York Post

According to Statisticbrain 44% of lottery winners have spent their entire winnings by the time 5 years has past. In my opinion, the problem is that those who receive instant riches are never prepared for the amount of requests and added financial complexities that wealth brings. There are lots of friends and family that may suddenly "find" your number after being off the radar for years and years.

Also, a million dollars doesn't go as far as it once did. Many people might want to buy a mansion and an expensive car and clothes but then there is the need to continue supporting the wealthy lifestyle and no real way to support it.

Instant Millionaires also tend to attract some positive but also negative attention. Possibly the most tragic case thus far is the story of Jack Whittaker - a self-made millionaire who had the misfortune of winning even more millions.


  1. Isn't that the truth!! Not to mention all those family and friends that haven't liked you in the past are certain to become your very very best friend. Of course all the bad doesn't keep me from buying that weekly lotto ticket!!
    Peanut Butter and Whine