RICH KIDS

[Tommy92l]

What do you think of kids who are born into a loaded family?

The oddest thing I've noticed is that there's almost no in between.

I either run into kids who are the most humble, down to earth individuals in the world and end up having a 5 story beach house...

or like yesterday, I saw some kid driving an Sl550 AMG. I said to him at a stop light "Damn man, that's a nice car", and he's in the car with a girl and just goes "...Yep".

That type of pompousness throws me off. People are people, and they're not as open to compliments as you'd think. Hell, I gave a dude a thumbs up when he passed me in a Ferrari and he just sort of tilted his head at me confused. Dude, you're in a Ferrari.

Just a little rant.

 

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[Vigilante]

I have family members who have spent a life time comparing themselves to others.

I only compare me against a year ago's me.

And, I measure my kids progress only because I want them to surpass me 10-fold and play out every one of their dreams.

 

[Get Right]

Sometimes I feel sorry for them. They will probably lose most or all of it in 1 generation, have no way to re-build it or teach their kids how to build anything.

Another lesson in "the process" is of higher value than "the results".

 

[Deleted21704]

I drive a 2-seater...nothing expensive, but it's something the ladies tend to call 'cute'.

One day, I had bought a gigantic 6-foot teddy bear (don't ask...) and had it sitting in the front seat. As I was filling up at a gas station, a lady commented "oh, that's cute!" pointing toward my car.

Now, I couldn't tell whether she was pointing at the car or at the bear, so I said something like, "haha, the car or the teddy bear?"

Obviously she thought I was a douche because she was talking about the bear. She drove away without answering and I felt pretty stupid.

I hate douches just as much as the next guy, but sometimes, an awkward introvert can react in ways other people would regard as douchey. I can TOTALLY see myself looking confused if someone points at me as I'm driving a Ferrari...I'm thinking, "what is that guy saying...maybe there's something wrong with my car?"

Because I'm just enjoying driving my car, not oh-yeah-look-at-my-Ferrari-it's-the-only-thing-on-my-mind.

 

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[rcdlopez]

Doucheyness really does depend on the person. I know two rich sisters who are almost opposites despite both being in a rich family.

One of them constantly posts pictures on instagram and facebook of all her fancy stuff (shoes, clothes, penthouse, expensive cars). She tries to disguise her materialism by saying something like "enjoying a cool mango smoothie", but the picture will be of the view of her penthouse and on the very corner of the picture is the smoothie, barely visible.

The other sister looks so plain. Her posts are just of her and her friends having fun.

 

[LiveTheWay]

I drive a 2-seater...nothing expensive, but it's something the ladies tend to call 'cute'.

One day, I had bought a gigantic 6-foot teddy bear (don't ask...) and had it sitting in the front seat. As I was filling up at a gas station, a lady commented "oh, that's cute!" pointing toward my car.

Now, I couldn't tell whether she was pointing at the car or at the bear, so I said something like, "haha, the car or the teddy bear?"

Obviously she thought I was a douche because she was talking about the bear. She drove away without answering and I felt pretty stupid.

I hate douches just as much as the next guy, but sometimes, an awkward introvert can react in ways other people would regard as douchey. I can TOTALLY see myself looking confused if someone points at me as I'm driving a Ferrari...I'm thinking, "what is that guy saying...maybe there's something wrong with my car?"

Because I'm just enjoying driving my car, not oh-yeah-look-at-my-Ferrari-it's-the-only-thing-on-my-mind.

Totally agree with this. Some personality types have difficulty responding thoughtfully when engaged by a stranger unexpectedly. I have been guilty of this and know at times I have been (understandably) misunderstood. On the other hand some people are just spoiled weenies

 

[SJVC]

'Dude, your in a Ferrari' Haha.

I used to work at an expensive private school and 90% of the kids were not nice people. However some were, so probably comes down to the parenting.

Bear in mind that a lot of the 'rich kids' will go onto be slowlaners in high paying jobs such as accountants and lawyers which will eventually suck out their souls!

 

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[ChickenHawk]

In front of our sixth-grader, we've started underplaying the amount of money we're making. A couple days ago, he decided he needed new inline skate wheels. They were $72, not an unreasonable sum. But his skates were less than a couple months old, so this seemed a bit extravagant. I told him he could earn the money by weeding all the front flower beds -- a job that I knew would take him about six hours. (It would've taken me only two.)

Yes, I could've given him the money. And yes, I could've paid someone else to weed the flower beds. But I'm determined that if we continue to have financial success, that our son won't become a self-entitled snot as a result. Yesterday, he spent all day weeding those flower beds, and now when he gets his wheels, he can have the pride of accomplishment along with a new toy. And I bet he appreciates those wheels a lot more than if I'd just given him the loot.

Sometimes, I think people of all socioeconomic classes make things too easy for their kids, and it doesn't do them any favors later on.

 

[MJ DeMarco]

Hell, I gave a dude a thumbs up when he passed me in a Ferrari and he just sort of tilted his head at me confused. Dude, you're in a Ferrari.

A lot of times its too late to react. I've "dissed" thumbs up before simply because I am slow to react. By the time I see it, it's too late to smile, nod, or whatever.

What do you think of kids who are born into a loaded family?

Disadvantaged. They're given events without process. I can think of no better way than to f*ck up a kid's life. This is why is no longer shocks me when a spoiled brat kid commits suicide or goes on a shooting spree, AKA, Elliot Rodger. There is no value in process when everything is given to you. I'd imagine it would be a terribly empty feeling to have not earned a damn thing in your life, and yet to be surrounded by things. You soul would be empty by virtue of creating zero value -- and by appearances, you'd be rich.

 

[Iwokeup]

In front of our sixth-grader, we've started underplaying the amount of money we're making. A couple days ago, he decided he needed new inline skate wheels. They were $72, not an unreasonable sum. But his skates were less than a couple months old, so this seemed a bit extravagant. I told him he could earn the money by weeding all the front flower beds -- a job that I knew would take him about six hours. (It would've taken me only two.)

Yes, I could've given him the money. And yes, I could've paid someone else to weed the flower beds. But I'm determined that if we continue to have financial success, that our son won't become a self-entitled snot as a result. Yesterday, he spent all day weeding those flower beds, and now when he gets his wheels, he can have the pride of accomplishment along with a new toy. And I bet he appreciates those wheels a lot more than if I'd just given him the loot.

Sometimes, I think people of all socioeconomic classes make things too easy for their kids, and it doesn't do them any favors later on.

Same here. We have our 4 year old doing "commission work" in order to earn toys that he wants. So now when he sees an expensive toy he is learning how much work it takes to obtain it.

At some point (six?) I want to start him on a version of what @ZCP is doing with his kids.

 

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[Waisec]

Disadvantaged. They're given events without process. I can think of no better way than to f*ck up a kid's life. This is why is no longer shocks me when a spoiled brat kid commits suicide or goes on a shooting spree, AKA, Elliot Rodger. There is no value in process when everything is given to you. I'd imagine it would be a terribly empty feeling to have not earned a damn thing in your life, and yet to be surrounded by things. You soul would be empty by virtue of creating zero value -- and by appearances, you'd be rich.

This is why you see quite a lot of the super-rich say that being born into poverty is the best thing that can happen to you.

I remember Kevin O'Leary saying in a interview that he will not pass on any of his money to his children. He even made his kid sit in the economy section on the airplane on a trip to Europe, while he sat in first class. When his kid asked why he can't sit there, Leary replied "Because you haven't earned it. When you've earned as much as I have, then you can sit in first class". Gotta love this guy

 

[Guest]

What do you think of kids who are born into a loaded family?

Either pity or admiration, depending on how they use the wealth to build or burn their fortune.

 

[sle3pyguii]

Some of my friends are from loaded families and I pity them. They try hard to hide their wealth because they've seen how money changes a lot of people around them. It's kind of sad really...

 

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[vinisterz]

rich or poor, the kids behavior will still depend on how they are raised.

the rich and wealthy are getting worried as if their kids don't know how to create wealth, how can you keep or maintain the load of wealth your inherit?

http://www.businessinsider.com/tycoons-not-leaving-money-to-their-kids-2013-8?op=1

 

[GuestUser113]

The only person you have control of is yourself. Why bother if this kid does this or not. Maybe i am looking at it wrong. I dont broadcast what i have. I surely dont ask what other people have. Quite frankly, it is none of my business.

 

[Tommy92l]

I drive a 2-seater...nothing expensive, but it's something the ladies tend to call 'cute'.

One day, I had bought a gigantic 6-foot teddy bear (don't ask...) and had it sitting in the front seat. As I was filling up at a gas station, a lady commented "oh, that's cute!" pointing toward my car.

Now, I couldn't tell whether she was pointing at the car or at the bear, so I said something like, "haha, the car or the teddy bear?"

Obviously she thought I was a douche because she was talking about the bear. She drove away without answering and I felt pretty stupid.

I hate douches just as much as the next guy, but sometimes, an awkward introvert can react in ways other people would regard as douchey. I can TOTALLY see myself looking confused if someone points at me as I'm driving a Ferrari...I'm thinking, "what is that guy saying...maybe there's something wrong with my car?"

Because I'm just enjoying driving my car, not oh-yeah-look-at-my-Ferrari-it's-the-only-thing-on-my-mind.

Disagree with a bit this. A thumbs up while you're driving an exotic car should be fairly obvious. But yeah, any other type of jesture in another car, I totally see where you're coming from.

 

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[Tommy92l]

The only person you have control of is yourself. Why bother if this kid does this or not. Maybe i am looking at it wrong. I dont broadcast what i have. I surely dont ask what other people have. Quite frankly, it is none of my business.

Just an observation. I see you guys constantly condemn people for living a lifestyle that you disagree with on this forum, and I wasn't doing that. I could ask the same about poor kids and how they act.

 

[GuestUser113]

Just an observation. I see you guys constantly condemn people for living a lifestyle that you disagree with on this forum, and I wasn't doing that. I could ask the same about poor kids and how they act.

I don't think i have condemned anyone on this forum about how they live. I may get carried away about people asking questions that have been answered already. Or come on the forum and blow smoke about how good affiliate marketing is. But condemning how someone lives. Nope.

 

[Deon]

I grew up with Insanely wealthy people, very rich people, rich people, middle-class people, lower-class people and people who were so broke they were not sure they'd have a roof on their heads everyday.

In all of those categories, there are douches and there are nice people. There's no need to see everything in black or white.It might be easier to be a douche if you're very rich, but i've met douches everywhere. And angelic people that were very rich.

 

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[socaldude]

The problem with being born with a silver spoon in your mouth is that it never really gives you an opportunity to discover your true potentials or capacities. You never really struggle or strive for anything because why would you? You already have a luxury car and dad's credit card at age 21. It's very corrupting to an individual.

On the other hand. Being born poor requires you to sometimes ask "soul searching" questions like "What kind of person do i want to become?" or "What am i gonna do with my life?" or "What kind of work do i want to do?". And during this struggle you grow as an individual.

 

[The-J]

I've known plenty of rich kids.

Some of them actually feel BAD that they were born into a rich family and are being supported by their family to study whatever they want, to live wherever they want, to eat whatever they want, to travel wherever they want for vacation. They think that they should have struggled a little bit harder and feel bad for the people who do have to struggle despite being just as smart as they are.

Others flaunt their privileged lifestyle and act as if they deserve what they have because their parents worked hard. They party hard and do poorly in school, figuring their parents will just save them when they're in trouble.

And even OTHERS just don't talk about it and worry about their own life, their own dreams. They remain grateful but don't seem to feel bad: they accept that it is what it is.

I grew up with a general disdain for rich kids because the few I knew at that time were pretty insufferable. However when I went to college and met more rich kids, I saw that not all of them were the stereotypical "daddy's money" kind of kids.

It depends on the parenting, really. I plan to instill in my children a full financial education, starting from when they first learn to add and subtract. Part of the problem is that those stereotypical 'rich kids' don't know the value of money (and TIME) and so they waste both callously and without care.

 

[jon.a]

It depends on the parenting, really.

This.

 

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[Aidan]

My two cents:

Since my teen years, moving up north into the country, and in an affluent area; many of the kids I went to school with 'had money.' Kids of Doctors, Lawyers, Majority Shareholders of large companies, you name it. I will always be thankful for this experience, because I've learned a lot about how wealth influences kids.

For the most part, it really does come down to the parenting. The parents of one of my good friends is loaded. They have a $2m house with an indoor pool, and everything, a $3m cottage with boats, etc. Mom drives a nice Porsche, Dad has a few Ferraris (that he rarely drives), and they have a decked out BMW X6M for traveling, etc. Long story short, this girl is very down to earth, has never shown off anything, and is as humble as can be. I respect her parents so much for raising their kids the way they did. They grew up with money and a comfortable living, but learned that money is not the prime value of building yourself. She's into Bio-Science in post secondary, and is doing her own thing, and paying a ton of her own debt; per her own decisions, as any other kid. Her family is super cool to hang out and talk with. Super glad I met them.

I've also seen 'crash and burn' methods of rich people parenting, where Parents let their out of control kid get reckless, and indulge in all sorts of selfish shenanigans. Eventually the kid would hit rock bottom with something INCREDIBLY stupid that he did, and his parents would not help him/her out of the scenario ("surely mom and dad will save me!" - nope). The kid looked like a complete fool in front of everyone, selling his/her car, losing a ton of social status and having less privileges than the average kid at school. The parents would keep this going on for a long long time. Pretty interesting method for sure, I mean if they failed raising their kid around money until they hit their teen years, I guess it's not a bad option. I have honestly seen a LARGE change in the kids of Parents that have executed this properly.

Then there are other cases (among many other). Rich parents that don't bother teaching their kids anything at all. The kids grow up spoiled, stuck up, without any real value to them. These kids are like a hollow shell of gold, Flashy on the outside with nothing inside. Mom and Dad give their children insane amounts of money since birth. The kids never appreciate it's value, and terrible personas are created around ill-deserved avenues of wealth.

-Mom and Dad that bail their kids out of ANY kind of trouble with a slap on the wrist. Things like having a massive house party with all kind of drugs, and booze where $100,000 worth of items were stolen from random guests. Things like driving Daddy's jacked up car at 250km/h down an 80km road, etc. Just completely stupid sh*t.

-Mom and Dad are rich and spoil their kids, but do not give their kids anymore than they need to get out of a large bump in life. I've always found these kids very strange psychologically, and it's also kind of sad. Broke community college kids working crappy part time jobs, but still act very stuck up; using Mom and Dad as a projection of their own 'wealth' on other people.

 

[Joe Cassandra]

I've known plenty of rich kids.

Some of them actually feel BAD that they were born into a rich family and are being supported by their family to study whatever they want, to live wherever they want, to eat whatever they want, to travel wherever they want for vacation. They think that they should have struggled a little bit harder and feel bad for the people who do have to struggle despite being just as smart as they are.

Others flaunt their privileged lifestyle and act as if they deserve what they have because their parents worked hard. They party hard and do poorly in school, figuring their parents will just save them when they're in trouble.

And even OTHERS just don't talk about it and worry about their own life, their own dreams. They remain grateful but don't seem to feel bad: they accept that it is what it is.

I grew up with a general disdain for rich kids because the few I knew at that time were pretty insufferable. However when I went to college and met more rich kids, I saw that not all of them were the stereotypical "daddy's money" kind of kids.

It depends on the parenting, really. I plan to instill in my children a full financial education, starting from when they first learn to add and subtract. Part of the problem is that those stereotypical 'rich kids' don't know the value of money (and TIME) and so they waste both callously and without care.

How can you have a disdain for this?
http://richkidsofinstagram.tumblr.com/

 

[Twiizlar]

Just wanted to add this:

I am fairly young (18 years old). I went from living in a run down apartment to living in a really nice house (+1 mil). My parents were immigrants and they moved up the economic ladder. I actually enjoyed the earlier years more when we didnt have much money. All the kids were in the same situation so we would go outside and genuinly have fun, play ball, hang out. Once i got older we started to move to richer neighborhoods and the kids stop coming outside. They all stayed inside and played their xboxs or ipods. I would give anything to move back to the older neighborhood and hang out with my old friends. I learned a lot from them and grew as a person. Sometimes being rich does not lead to happiness.

 

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[The-J]

How can you have a disdain for this?
http://richkidsofinstagram.tumblr.com/

To be fair, those kids probably have friends that can afford to play with them.

The 'rich kids' I've always become friends with didn't do that kind of thing. Sure, they did long vacations in the summer and were given nice apartments by their parents, and they eat at nice restaurants damn near every day. But callous displays of cash like that... a**hole with money would be an a**hole without it too

 

[BlakeIC]

My parents money is not my money

 

[Blue1214]

This is why you see quite a lot of the super-rich say that being born into poverty is the best thing that can happen to you.

I remember Kevin O'Leary saying in a interview that he will not pass on any of his money to his children. He even made his kid sit in the economy section on the airplane on a trip to Europe, while he sat in first class. When his kid asked why he can't sit there, Leary replied "Because you haven't earned it. When you've earned as much as I have, then you can sit in first class". Gotta love this guy

Exact quote :

When I fly over to see my dad in Geneva, my son has to sit in the back because I say to him, you have no money. You can’t afford to sit in first class. It’s a good lesson. He gets it. It makes him mad.

He's got the right idea!

When I used to ask my dad for things as a kid, he was very giving, but he'd make sure I earned it first.

"Did you do your homework?" me: "not yet"
"is the grass cut?" me: "no"
"Dishes washed?" me: "no"

Do you think you deserve it this thing? me: "no -_-"

 

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[Formless]

Honestly I don't really care. That's NOT petulant teenager speak for 'look at me, I'm alternative.' It honestly doesn't concern me because the wealth of others doesn't affect mine.

I would venture to guess that wealth + great parenting = GRRRRRRRRRREAT KID.

 

[daivey]

What do you think of kids who are born into a loaded family?

The oddest thing I've noticed is that there's almost no in between.

I either run into kids who are the most humble, down to earth individuals in the world and end up having a 5 story beach house...

or like yesterday, I saw some kid driving an Sl550 AMG. I said to him at a stop light "Damn man, that's a nice car", and he's in the car with a girl and just goes "...Yep".

That type of pompousness throws me off. People are people, and they're not as open to compliments as you'd think. Hell, I gave a dude a thumbs up when he passed me in a Ferrari and he just sort of tilted his head at me confused. Dude, you're in a Ferrari.

Just a little rant.

So wait, you think the driver of the vehicle is pompous because he drives a nice car and said "yep" to some random stranger? What did you want him to say? "be my friend" ?