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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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]I am upper middle class woman raised by a single mother who never broke $50K a year.  Because I have attended elite universities, I know tons of the people you are describing.  And family money is the key (I dont care what these other posters are saying). Here are several examples of ways the rich/upper middle class pass on wealth:

- Undergraduate paid for by parents.  It's really hard to invest when you have educational debt.

-Down payments for first house

-At least two of my friends receive yearly gifts from their parents- the max gift amount.  Clearing an extra 36K on top of your salary without paying taxes on it is an amazing leg up.  Imagine if both sets of parents are doing this.

-Parents or grandparents paying for kids private and/or college.

-Some inherited from parents or grandparents.

So OP if this is you or your spouse and any of these amazing gifts are yours and you are still behind, then yes you are blowing your money.  But if none of this applies to you then don't be hard on yourself and remember comparison is the thief of joy.  I am always pinching myself about how lucky I am. [/quote]

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