Reply to Net Worth Disparity among whites and blacks/hispanics

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am white and I got nothing from my parents and grew up with a single (divorced) mom. The only reason I have a nice lifestyle now, despite going to college (loans), is because[b] I married well[/b]. [/quote]

Ummm...you realize that the bolded part undercuts the first part? You may have not had inter-generational wealth but you married someone who did.  And that relative wealth will pass to your children.  That's one of the points of the article. [/quote]

Right, however the person I married is a 1st generation immigrant that came from nothing. He isn't black but he still was highly disadvantaged and did well for himself. [/quote]

I am a 1%er who is the first generation to go to college (lower class) married to a first generation to go to college (lower middle class). We benefited from no inter generational wealth transfer. In fact, the wealth transfer has been reverse.[/quote]

And you will end up transferring a ton of wealth to your kids.[/quote]

So? I have earned it.  [/quote]

But they didn't, and that is the issue of intergenerational wealth.[/quote]

There is no "issue" of generational wealth except resentment and envy. I came from nothing and made something of myself. Others can do the same and their children can benefit.  Envy and resentment...[/quote]

I am the pp, and I can't see why I would be jealous of you since I am independently wealthy.

The fact remains that we both will transfer our wealth to our children.  It's not wrong, but it's an advantage.  And our grandkids will be even more advantaged.  Poor people do not start out like that.  Sure, some of them will make it, but it's going to take a combination of unusual dedication, talent, and luck.  Our kids won't need talent or luck.  They'll need a reasonable amount of dedication, and they will be fine.[/quote]

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