Upper middle class people- why don’t you want your kids to live a life of leisure?

[Anonymous]

Because we want them to have a purpose-filled life and leave this world a better place, hopefully
Basically be a giver, not a taker

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well yeah, UMC kids go into finance and VC and such which is much more chill than medicine. Only immigrants and LMC go into medicine.

cite? I used to work in an administrative role at a medical school, just for a year and a half, and I saw the opposite. in fact one of the big efforts when I was there was to get more income diversity because it was almost overwhelmingly kids from well-off backgrounds at our school. And I did a little research as I was contributing to some of these efforts and that seemed to be pretty consistent across medical schools.

UMC have money to put their kids through med school or other high priced schools plus UMC kids can focus solely on school work and residency without having to get another job to support themselves.

Scholarships don’t cover everything


Kids from UMC have all the advantages, tutors from k-12, higher test scores, less stress from home life… money




Black and brown kids are don’t have these privileges

Wow. There are more poor white children than poor black and brown children. You do realize that there are PLENTY of poor and lower middle class white children who don't have these privileges either?!

I'm sure you're a liberal saying dumb stuff like this. SMH.

Yeah no. In absolute numbers maybe, but white children have a way lower poverty rate than black and brown children.

+1. pP pulled that “alternative fact” out of her fake book of white victimhood

Please just shut up and let the adults talk.

[Anonymous]

My parents are UMC professionals and my sibling and I are the same, just a different profession. We would never expect our parents to help us attain a more cushy life. That’s their money they worked so hard for. And I think the message would be so confusing for our kids (the grand kids). I don’t want to set an expectation that there will always be magical back-up money if one chooses a job with a lower salary. You’ve got to be the captain of your own ship.

[Anonymous]

Most UMC families are doing well, but the parents have oodles of money only later in life. Through their 50s and 60s they’re still trying to maintain a lifestyle and that costs a fair sum. It’s only in their 70s and later do they realize the momentum of compounding investment returns and the notion that they have too much. By that time, however, their kids are well into their 40s or 50s. I don’t know that most kids want to wait until their parents die to have a nice material life. Then, the money gets split multiple ways. Also, there’s just the uncertainties of the market and life. Finally, and probably most importantly, people should do something meaningful with their life. People need goals and to take them seriously. Mastery of a skill or body of knowledge and using that mastery to achieve something is fulfilling to many. It’s also s good example for the next generation.

[Anonymous]

Inheritance is uncertain until you have it. How long will your starving-artist children wait to receive your money? Will the better part of their lives pass before they get the money? Inheritance may enhance your children’s retirement, but few parents have enough money to support their kids and their families at an UMC lifestyle from beginning to end. Also, where would such an arrangement leave the next generation?

[Anonymous]

The best way to encourage or help starving-artist children is to regularly contribute to their Roth IRA. Help them build their own wealth over time. Thus, if 40 years of artistry has left them with nothing, they will have a nice retirement account they can access tax free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Life is struggle. Anything else sounds boring at best, a pipe dream and trap at worst. Are there any people on DCUM living a life of leisure who think otherwise?

Almost every offspring of DCUM folks is living a life of leisure. In college, every dime I made at any job I had went straight to my college tuition and housing. Spending money? For fun? No such thing.

PP. Totally agree, and many UMC parents struggle to make life harder for their kids. I suspect OP was one of those kids. OP only said that she and her DH went to school, not that they were actually established professionals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well yeah, UMC kids go into finance and VC and such which is much more chill than medicine. Only immigrants and LMC go into medicine.

cite? I used to work in an administrative role at a medical school, just for a year and a half, and I saw the opposite. in fact one of the big efforts when I was there was to get more income diversity because it was almost overwhelmingly kids from well-off backgrounds at our school. And I did a little research as I was contributing to some of these efforts and that seemed to be pretty consistent across medical schools.

UMC have money to put their kids through med school or other high priced schools plus UMC kids can focus solely on school work and residency without having to get another job to support themselves.

Scholarships don’t cover everything


Kids from UMC have all the advantages, tutors from k-12, higher test scores, less stress from home life… money




Black and brown kids are don’t have these privileges

Wow. There are more poor white children than poor black and brown children. You do realize that there are PLENTY of poor and lower middle class white children who don't have these privileges either?!

I'm sure you're a liberal saying dumb stuff like this. SMH.

Yeah no. In absolute numbers maybe, but white children have a way lower poverty rate than black and brown children.

+1. pP pulled that “alternative fact” out of her fake book of white victimhood

Please just shut up and let the adults talk.

The truth hurts.

[Anonymous]

Anonymous wrote:The best way to encourage or help starving-artist children is to regularly contribute to their Roth IRA. Help them build their own wealth over time. Thus, if 40 years of artistry has left them with nothing, they will have a nice retirement account they can access tax free.

My just turned 18 years old daughter just sold three of her paintings to a wealthy art lover/collector for $300k each. Those paintings will be in display at an art gallery in Paris this month. She is currently in talk with another art collector to sell four more paintings at similar price per painting.

[Anonymous]

Anonymous wrote:Well yeah, UMC kids go into finance and VC and such which is much more chill than medicine. Only immigrants and LMC go into medicine.

UMC offspring and doctor here who learned this too late. SAHMs who married my colleagues have much nicer lives. My work is interesting though.

[Anonymous]

Anonymous wrote:Most UMC families are doing well, but the parents have oodles of money only later in life. Through their 50s and 60s they’re still trying to maintain a lifestyle and that costs a fair sum. It’s only in their 70s and later do they realize the momentum of compounding investment returns and the notion that they have too much. By that time, however, their kids are well into their 40s or 50s. I don’t know that most kids want to wait until their parents die to have a nice material life. Then, the money gets split multiple ways. Also, there’s just the uncertainties of the market and life. Finally, and probably most importantly, people should do something meaningful with their life. People need goals and to take them seriously. Mastery of a skill or body of knowledge and using that mastery to achieve something is fulfilling to many. It’s also s good example for the next generation.

This. My mom had $4M but each sibling only has $1M from her. You have to keep working.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well yeah, UMC kids go into finance and VC and such which is much more chill than medicine. Only immigrants and LMC go into medicine.

cite? I used to work in an administrative role at a medical school, just for a year and a half, and I saw the opposite. in fact one of the big efforts when I was there was to get more income diversity because it was almost overwhelmingly kids from well-off backgrounds at our school. And I did a little research as I was contributing to some of these efforts and that seemed to be pretty consistent across medical schools.

UMC have money to put their kids through med school or other high priced schools plus UMC kids can focus solely on school work and residency without having to get another job to support themselves.

Scholarships don’t cover everything


Kids from UMC have all the advantages, tutors from k-12, higher test scores, less stress from home life… money




Black and brown kids are don’t have these privileges

Generalize much so someone appears racist?

I think you mean low income students of all races don't have those privileges. Right? We don't always have to play the race card every time.

[Anonymous]

I know several parents who have become very successful and wanted their kids to have it easier than they did. One family has four kids. Only one is successful, two live off of their parents, one OD-ed. Another: Three kids, two live off of parents, one OD-ed. Another: three kids, none work, one died in 20s from crazy accident. Another: two kids, one successful working for the dad, the other dead from a crazy accident. I literally could list more.

Kids have to be taught a work ethic and responsibility, and they need to believe they can succeed and need too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well yeah, UMC kids go into finance and VC and such which is much more chill than medicine. Only immigrants and LMC go into medicine.

cite? I used to work in an administrative role at a medical school, just for a year and a half, and I saw the opposite. in fact one of the big efforts when I was there was to get more income diversity because it was almost overwhelmingly kids from well-off backgrounds at our school. And I did a little research as I was contributing to some of these efforts and that seemed to be pretty consistent across medical schools.

UMC have money to put their kids through med school or other high priced schools plus UMC kids can focus solely on school work and residency without having to get another job to support themselves.

Scholarships don’t cover everything


Kids from UMC have all the advantages, tutors from k-12, higher test scores, less stress from home life… money




Black and brown kids are don’t have these privileges

Generalize much so someone appears racist?

I think you mean low income students of all races don't have those privileges. Right? We don't always have to play the race card every time.

NP. No I don’t mean that. Sorry!

[Anonymous]

Anonymous wrote:Because we want them to have a purpose-filled life and leave this world a better place, hopefully
Basically be a giver, not a taker

This..I also think people with normal full busy lives are happier.