The phrase "go broke" describes a situation in which someone loses all their money and becomes financially destitute. There are many synonyms for this phrase, including "go bankrupt," "run out of money," "become insolvent," "go under," "default," and "go bust." These terms all refer to the same basic idea of financial failure, but some imply a more formal process - like bankruptcy - while others suggest a more gradual decline. Regardless of the specific term used, going broke can be a difficult and stressful experience that has significant impacts on one's life and future financial stability.