The OP's argument:
"My cousin inherited $500,000, didn't do any research and overspent it all on a really nice doublewide. Now, he's broke and living in a doublewide. So, obviously having an extra $500,000 is useless!"
How about those that invested it, compounded the interest, and grew something better than they'd have had otherwise?
"My brother's wife cheated on him, so all women are untrustworthy."
How about all the wonderful women out there?
Peter Griffin: "I'll never own a Toyota. My neighbor once bought a Toyota, and Bam! He got herpes."
(OK, I just wanted to throw that one in.)
You can't just take a limited sample, edge case, or mistake and attribute that as a rule.