How to Avoid the Tragedy of Athletes Who Make a Fortune in Their 20s and Are Bankrupt by Age 30

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LZ Granderson: There's an ideal net worth after which money stops bringing pleasure, but it becomes a social liability. He says that number is probably lower than most people think. A common denominator of lottery winnings has a very high degree of "social debt," he says. LZ: Most common cause of athletes going broke was social debt; they felt obligated to help them.

I think there’s an “ideal” net worth for everyone, when money not only stops bringing pleasure but becomes a social liability. And that number is probably lower than most people think.

A subtle problem with money is that assets are easy to measure but liabilities can be hidden. Measuring assets is simple. But how do you measure losing your privacy? Or the nagging doubt that some friends only like you for your money? That’s way harder.

My theory is that the more money people have, the more social debt they tend to be burdened with.