Now, not everyone is capable of blowing $120,000 in only four months and winding up with nothing but another notch on the old bedpost. But this sort of behavior is seen all the time, from professional athletes to lottery winners. So long as an individual's time preference is limited to the short term, he will never amass any wealth because he will immediately spend any amount of money that is given to him or earned by him.
Yet, their poverty is often blamed on the greedy rich!
It's not about how much you make but how much you save.