Mel Abraham explains why wealthy families often lose their fortunes. A family's $150 million wealth dropped to $5 million in five years due to poor money management, not market crashes. Abraham calls this problem a lack of "money maturity": the skills to steward wealth, not just accumulate it.
Having money and knowing how to steward the money are two completely different skills. This family went from $150 million to $5 million in 5 years, not because of a market crash, but because of entirely preventable, deeply human, incredibly common mistakes. You have to try really hard to make that happen. You don't accidentally lose that. We spend so much energy focused on accumulation. Very little time do we ever spend understanding how to develop the stewardship skills. Money maturity isn't about how much you have, it's about how you engage with what you have.
