Maybe. My cousins husband is quite wealthy, but they are frequently leveraged to the hilt (margin debt, mortgages, etc). All for investment and tax purposes tho

Maybe. My cousins husband is quite wealthy, but they are frequently leveraged to the hilt (margin debt, mortgages, etc). All for investment and tax purposes though, not spending. He's done really well (probably made €50m+ since 2008), but they were pretty much all in at several points. As long as you know why you're taking certain risks, it's probably fine. Even if they don't all work out.