Reply to Is this a common feeling in your early 40s? Feels like friends are getting rich and we're stagnant

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]On DCUM, every time someone asks this question[b], multiple people say: "family money" because then they don't have to think about what they themselves could have done differently. [/b]I really don't think receiving large gifts or inheritances from family is as prevalent as you think. Minor downpayments are the most common form of help, but usually don't run into paying for the entire house.

Practically no one ever says: "stock market". Yet for us, that's been the sole driver of our wealth, and I suspect it contributes to the wealth of a lot of my neighbors in Bethesda, along with people who manage or sell successful businesses. We bought high tech stocks when they were cheap because we believed in the product and decades later can sell some stocks to meet our needs.

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Huh? I said that. I have family money.[/quote]

Self-made people are so weird because they are always trying to convince you that (1) they did it all not their own with no help and no luck, just hard work and smart, don't you dare discount any aspect of their success as timing or good fortune, but also (2) anyone could do what they did if they just tried a little.

And in reality, most wealth is generational and even many "self-made" people had head starts like private school, college paid for without loans, a chunk of change for a house downpayment or seed money for a business, lived with parents for some length of time when getting their start, etc.

Just weird resistance to the idea that somewhere between 70-90% of financial success is inherited. [/quote]

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