Reply to Generational wealth. What's behind the obsession?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Because poverty sucks. I can from wealth and my wife does not. For the first time in my life I got to experience someone who was actually poor and crying while telling me how much they struggle. I still don't truly understand poverty. But I'll do everything I can do so that our kids have more than we did.[/quote]

I’ll help you understand poverty. If your child has a place to live in an area where jobs are in abundance (as opposed to a rural depressed area or an inner city), it’s almost guaranteed they won’t be destitute. If they are mentally well, that’s already a huge deal and most likely they won’t be homeless. 
If they have some financial literacy and college education, that’s what will carry them.
These are the factors that make one poor or not poor. [/quote]

None of these things are within your control, though - your kid may not be healthy, or may suffer a life changing event that makes them unable to work. The area they live and their field of work in can become depressed for all kinds of reasons. People want their kids to be fed and housed nonetheless, because they love their kids. Money is security against poverty when life goes wrong.

Beyond that, money is the freedom to leave a crappy boss, or take a job they love that doesn't pay well, or stay home with the kids, or travel. People want more for their kids than "not destitute."

I don't understand why this is even a question. [/quote]

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