Had a good friend of mine who always found easy to make money and just as easy to spend it. He was always off on expensive adventures and fun times. Women were attracted to him due to his love for life, generosity and not to mention good looks. One day a mutual friend of ours who was worth several hundred million asked him ".....aren't you afraid of dying broke?" He replied.."On the contrary ....., my greatest fear is that I will die with a quarter in my pocket left unspent."
Is there a specific reason for this condition? If you are able to extract alpha and capacity is not a concern, there is literally zero reason not to use outside capital. I think most people underestimate the value of luck in our lives. The best analogy is a stochastic process for a stock price. What you are born with is the spot price, then your hard work (or laziness) is the drift and then there is volatility that takes you places. Privilege by birth (spot price), predictably, determines most of the expected value. If you are born in a village in Pakistan, it's improbable that you are going to be managing a hedge fund. Same way, if you are born in a rich family, becoming destitute would take some serious trying. Like some other fields, trading has no real barriers to entry yet top people get paid very well. People trying to get into these field usually get by doing something menial - think of all the waiters that are aspiring actors and dancers.
kudos to your old man ! actually Yugoslavia was considered the paradise among the countries of the Soviet Block: relatively low level of government repressions, private economy was allowed to a certain degree, relatively high import of the western produced products , etc.. so it was escape from the Paradise
I like to know where to look for those. The without risk part but don't tell me I have to start with 8 figures.