[at-fates-hands]

>>> The idea of rapidly creating an enormous amount of money for very little effort in a very short amount of time is much more appealing than making 12+% per year indefinitely, even though this strategy is much more likely to net you a higher return in the long-run.

Just as a side note, I was watching the excellent ESPN series "30 for 30" and they were describing why so many athletes have gone bankrupt so quickly after retiring, even though they supposedly made millions when they were playing.

Your quote is the key. They had several financial planners and they said the same thing, "It's not cool for these guys to their money in an index fund and watch it grow over 20 years. They want bars, dance clubs, music studios, and other frivolous stuff. THAT'S why they broke."

The stories the athletes tell are pretty jaw dropping by the way: http://www.youtube.com/watch?v=TSOAwNSv8EM