Reply to If you are rich, not just upper middle class

Forum Index » Money and Finances

Reply to "If you are rich, not just upper middle class"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I grew up poor but my parents were supportive, well-educated and scraped together enough to let me graduate from college with only a tiny amount of debt. Now I have a net worth of about $10 million. I find it insane to have that much in assets.

My kids grew up in a much more privileged environment than I did (nannies, fancy summer camps, foreign trips, private schools, no college debt), but thank the Lord, they are great kids and assume they will always have to work. They are no young adults and I do still subsidize them in small ways (paid their security deposits, keep them on my cell plan, pay their car insurance) and they know they have a safety net if there is a crisis. They know they are incredibly fortunate to have that safety net. They also know that whatever I have could vaporize if the economy craters, there are huge unexpected health issues, etc.

I hope I will always be able to help out if they need help, and I'm glad that the money I made can ease their paths a bit. Because it is so much tougher for young adults today than when I graduated from college (1990) or when my parents graduated form college (early 60s). Health care costs, education costs, housing... it has all skyrocketed.  But I hope my kids will have enough safety cushion to feel able to take lower-paying public interest jobs if so inclined. So far that is the direction they are going. One is a teacher and the other wants to be a public defender. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics