Just when you thought it was safe to be a lottery winner comes the buzzkilling news that many winners, even those in the multimillion dollar range, manage to blow through their windfalls and are back to broke in under seven years.
I recently had the privilege of being the opening keynote speaker at the Financial Times Camp Alphaville 2015 conference in London. Attending were nearly 1000 people, including economists, engineers, scientists, and financiers.
Okay, let me state upfront that I am completely biased when it comes to running a compelling business: for I believe if you happen to live in the 21st century, your company's stock should be worth money, and you should be able to turn around and sell it.
Tom Tierney is a recognized leader in serving the nonprofit sector. In 1999, he co-founded The Bridgespan Group, an independent, nonprofit organization that collaborates with mission-driven leaders and organizations to help accelerate social impact.
Renting a house, snagging a ride on your smartphone, and de-leveraging your balance sheets would truly be a new American way, with tremendous implications for policymakers including the Fed if a geopolitical or natural disaster hit and it was stuck at an already low interest rate.