Almost everyone has known or heard of someone who at one time had tons of money and now has next to nothing. In the back of the mind of most of us is the thought, Wow, if I had that kind of money, I never would have blown it. We think it is such a waste to see this happen.
But life’s road is strewn with the wreckage of lost fortunes—even by good and intelligent people. Athletes, movie stars, lottery winners, overnight business successes, people with an inheritance, real...