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

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op here- I plan to save a bunch for my daughter so she can have a more chill career and still be able to build wealth on her own. I hope she picks something she enjoys and can actually love life.

How will your daughter "build wealth on her own"? Do you have any idea or plan?

Not hard to build wealth when you have zero student loans or medical debt.

with a chill career in a non-profit it is unless you either marry a higher earner or live like a pauper. If you daughter has kids, marries a man with a similar salary she certainly won't be able to raise or launch her kids the same way you raised and launched her

One of the biggest lies that people outside of the non profit world tell themselves is that non profit work is “no stress.” Ha. There are all the same work stresses, deadlines, and demands In non profit work as there are in the for profit world. You just get paid less!
- signed, arts non profit executive : )

[Anonymous]

Anonymous wrote:

Anonymous wrote:Virtually no families have so much money that multiple generations don't need to work. Do you want your kids lazing around and spending all of the money you earned so their kids are forced to fend for themselves? Or do you want them to work and set a good example and add to the assets of the family as a whole?

But is work supposed to be fundamentally meaningful for everyone?

And why do we need to accumulate assets?

No. It's supposed to provide money, which in turn provides security, opportunities, and enjoyment. We need to accumulate assets to give our children and future generations access to the same opportunities we had. Otherwise you would be making your life easier at the expense of making their lives harder, unless your name is Jeff Bezos or something.

[Anonymous]

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

[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

???

Some black and brown kids are UMC too, obviously.

[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

Unless they are UMC black and brown kids. UMC and black/brown are not mutually exclusive.

[Anonymous]

Why does OP think that blue collar jobs don’t provide health insurance and retirement benefits? My father worked blue collar jobs and he has always had good health insurance and a pension plan/401K. Lots of my peers have parents in blue collar jobs that also provide the same benefits.

[Anonymous]

Anonymous wrote:Why does OP think that blue collar jobs don’t provide health insurance and retirement benefits? My father worked blue collar jobs and he has always had good health insurance and a pension plan/401K. Lots of my peers have parents in blue collar jobs that also provide the same benefits.

If you mean union trade jobs, they do. But unskilled jobs don’t.

[Anonymous]

UMC kids are not rich. Rich kids can be lazy. The reason you are upper middle class is because you do not have generational wealth.

DH is a specialized surgeon and earns ~$1.5m. I always tell our kids they have to work hard because we are UMC. We can provide them a good childhood and pay for their college and education but they have to work to support themselves and provide a good life for their future families.

We will be able to pay for college, grad school, wedding and a down payment on their house. Maybe their kids’ educations. They will not be trust fund babies who can afford not to work.

[Anonymous]

How is this a question?

If you want your kids to live a life of leisure, you need true generational money. Like 10 million dollars per kid.

Not likely to make that as an UMC professional.

[Anonymous]

Anonymous wrote:UMC kids are not rich. Rich kids can be lazy. The reason you are upper middle class is because you do not have generational wealth.

DH is a specialized surgeon and earns ~$1.5m. I always tell our kids they have to work hard because we are UMC. We can provide them a good childhood and pay for their college and education but they have to work to support themselves and provide a good life for their future families.

We will be able to pay for college, grad school, wedding and a down payment on their house. Maybe their kids’ educations. They will not be trust fund babies who can afford not to work.

🙄🙄🙄

[Anonymous]

Anonymous wrote:

Anonymous wrote:UMC kids are not rich. Rich kids can be lazy. The reason you are upper middle class is because you do not have generational wealth.

DH is a specialized surgeon and earns ~$1.5m. I always tell our kids they have to work hard because we are UMC. We can provide them a good childhood and pay for their college and education but they have to work to support themselves and provide a good life for their future families.

We will be able to pay for college, grad school, wedding and a down payment on their house. Maybe their kids’ educations. They will not be trust fund babies who can afford not to work.

🙄🙄🙄

I believe it. If you do t want your kids to have to work a day in their lives, you need to be able to give them 10-20 million in their twenties.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Interesting you describe medical training as abusive. Do you think you are a martyr or something?

It is well known that medical training has insane hours requirements. Not uncommon to work over 100 hour weeks constantly with no break. A recent study found that pregnant residents more likely to have miscarriages and bad birth outcomes due to the hour. Most people know this.

So what? There are plenty of lower grade professions who work, long hard hours. Think of the roofers
working atop buildings (where floor temps reach 140f) from 6am to 8 pm to finish the job, before the
thunderstorms rain down. Think of firemen with heavy suits and concrete construction workers. Think of
Field military personnel. I’m an MD
BTW, my Med school training and 5 years as resident were a walk in the park.

[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

Unless they are UMC black and brown kids. UMC and black/brown are not mutually exclusive.

Yes seriously, some of these race-focused liberals are part of the problem with all their stereotypes.

- signed a brown person with multiple doctor friends who are doing just fine, thanks

[Anonymous]

Anonymous wrote:My husband and I come from LMC European immigrant families. My husband’s sister married a very wealthy man and their now-adult kids have large trust funds. I don’t know exactly how wealthy they are in DCUM-speak but the children went to an elite independent school for pk-12, the parents share a plane with another family, they have a named building at a t50 university, etc. Anyway kid #1 became a stereotypical trust fund kid. Attended the t50 school (which is known as a school for rich Jewish kids). Kid graduated a few years ago and has never worked at all. Travels full-time. Kid #2 opted to go to a instate U and double majored in STEM and is gainfully employed. Kid #2 appears much happier.

Eastern European (víscegrad 4 or points eastward) or Western European immigrants?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:UMC kids are not rich. Rich kids can be lazy. The reason you are upper middle class is because you do not have generational wealth.

DH is a specialized surgeon and earns ~$1.5m. I always tell our kids they have to work hard because we are UMC. We can provide them a good childhood and pay for their college and education but they have to work to support themselves and provide a good life for their future families.

We will be able to pay for college, grad school, wedding and a down payment on their house. Maybe their kids’ educations. They will not be trust fund babies who can afford not to work.

🙄🙄🙄

I believe it. If you do t want your kids to have to work a day in their lives, you need to be able to give them 10-20 million in their twenties.

WHY would you want your kids to not to have to work??? That seems like a recipe for complete disaster.