This cycle of bull and bear markets has caused many people to fall back into poverty. Why is it easier to make money than to keep it? I’ve done a simple analysis—what other insights do you have to add?

1. Path Dependence Trap
Many people can’t hold onto their money because they try to use the “same methods” that made them money initially to “protect” it. For example, relying on the first pot of gold earned through bold bets, then trying to leverage more or turn a bicycle into a motorcycle to protect that money. As a result, a single market cycle can wipe it all out.
Making money requires greed; protecting money requires caution. These two logics are mutually exclusive.
2. Social and Identity Premium
When you have more money, your circle changes. To maintain the image of being a “successful person,” you need to buy more expensive cars, join more exclusive circles, and invest in face-saving projects for friends. At this point, money is no longer just your asset; it becomes fuel to maintain your identity. Once the fuel runs out, your status collapses.
3. Cognitive Dislocation
The biggest danger is mistaking “luck” for “ability.” Money earned during a market boom, if not quickly converted into stable assets or if you don’t upgrade your core skills, is just temporarily stored with you by society. It will eventually flow back into the market through various temptations.