Reply to S/O what do you consider “haves”

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[quote=Anonymous]I think there’s multiple categories of haves.  Sure the top category would be the kids that have a 20mil or 500 mil or whatever trust waiting for them the day they graduate college.

Since 99.9% of kids will never have that – I think the secondary more “attainable” category of haves are the kids whose parents can afford to pay 75k/yr (or 100k/yr in a few yrs probably) for 4 yrs of college + all of med/law/b school AND hand them a down payment on a house in a HCOL area AND pay for their wedding.  Doesn’t sound like much to the people posting here, but if you start a residency or biglaw or whatever with a net worth of ZERO AND not having to worry about saving for a down payment, you are already miles ahead of your peers these days.  At that point your career decisions are based on what’s good for your career long term, not what you can afford – i.e. should I really pursue that fellowship in NYC bc it’ll be hard to live/start paying down debt for years.  You start with a net worth of 0 on day 1 of your career + the ability to buy a home anywhere in a major metro area --- you are very much a have and are setting your future kids up to be haves as well; that’s why we see the UMC (or what DCUM calls middle class) lifestyle perpetuate in the same families generation after generation – bc prior generations set them up well.[/quote]

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