It makes no difference how much someone earns. As many sports pros and entertainment superstars have demonstrated, if what comes in goes right back out in spending, you end up without wealth.
What such professionals really need are royalty income, preferably for life. Not a mountain of money they can spend away until it is gone.
It is amazing how fast people can spend millions. Money spent, gone, not coming back.
Somebody I tangentially worked with once was in the process of getting a divorce and had the brilliant idea to have all of his paychecks direct deposited onto a walmart blue card so that he could “hide his income”.
Apparently it never occurred to him that the end of the year, the employer would send him a W2 and report same to the IRS. 
Yes, exactly. Also I don’t know anyone in my age group who has paid off their house or even condo. My parents were lucky in that they bought pre-inflation in the early 1960s and paid off a 25 year mortgage at a monthly payment that was a stretch in 1965 and a joke by the end (I think it was $200 a month). That doesn’t happen any more. People are more likely to refinance too and live off equity.
So the ranch could be worth $1.2 million but there might not be that much equity in it. Or the “friend” making the appeal is misinformed.
People can be such jerks! Just support your children!
Well, they didn’t have kids, and the wife was a co producer of a major daytime TV show and outearned him by an actual decimal place, but …that doesn’t stop a W2 from existing.
I took it that their students are their children.
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