Mediocre rich kids>smart athletic middle class kids

Anonymous wrote:Op - I am just thinking about this because my kids are all average or slightly above average for academics and definitely average at sports. They work hard but definitely are not going to college for sports and highly doubt they will get crazy scholarships for their academics.

But they have parents who are invested in their success and have a high HHI ($700k and up) and have generational wealth from family as well.

So they will be fine as long as they remain mentally healthy, are goal-oriented, and can find good partners.

It's lucky to have both motivation and a safety net.

Sports only pays off for a few athletes beyond the megastars. Mostly if they can enter a profitable related business.

Anonymous wrote:500k isn’t really that much nowadays, esp in HCOL areas.

I am not sure what you mean by leg up. I think the smarter academically athletic kid would do better than the UMC mediocre kid.

Private schools are full of mediocre rich kids.

Sure if you get someone who is smart and athletic plus comes from a UMC family you are winning the jackpot.

But a smart academically athletic kid from a poor family will not do better than a mediocre kid whose parents make $500K and up per year who can afford to supplement their life as they age (cars, college, weddings, first houses, etc). Not having debt as an adult has to be the biggest advantage one can have.

500k isn’t really that much nowadays, esp in HCOL areas.

I am not sure what you mean by leg up. I think the smarter academically athletic kid would do better than the UMC mediocre kid.

Private schools are full of mediocre rich kids.

Of course the generational wealthy kid had the leg up. Stupid question

Greater leg up for what? What is your definition of success?

Well I definitely have more respect for the bootstrap athlete or hard working academic if that’s what you’re asking

Anonymous wrote:Op - I am just thinking about this because my kids are all average or slightly above average for academics and definitely average at sports. They work hard but definitely are not going to college for sports and highly doubt they will get crazy scholarships for their academics.

But they have parents who are invested in their success and have a high HHI ($700k and up) and have generational wealth from family as well.

Mediocre kids from wealthy families? Shocking

Op - I am just thinking about this because my kids are all average or slightly above average for academics and definitely average at sports. They work hard but definitely are not going to college for sports and highly doubt they will get crazy scholarships for their academics.

But they have parents who are invested in their success and have a high HHI ($700k and up) and have generational wealth from family as well.

Op - sorry bad explanation. By extraordinary talent I think I mean more like talented/gifted and going to college for sports. Not once in a generation talent (LaBron James or Simon Biles).

Does the kid have a strong work ethics and executive functioning? Then the former. If not, the latter.

Having parents who are not just wealthy but usefully connected to what the kid wants to do is the best.

Sports excellence is vulnerable because many players and sports are undercompensated and there are few roles proportionate to interest. Money doesn't fix that dynamic. Even wealthy kids end up dropping out of those activities.

Academic excellence does help channel into certain high-paying professions (med school and law). But these days, EQ is a big, big part of it as well.

I guess it depends on what you mean by extraordinarily talented. DH and I are both doctors. We have smart kids and an income over $500k, but LaBron James definitely has a leg up over any of our kids.

Depends on the kid.

Being an extraordinary talented at a sport(s) or academics OR being average at sports and/or academics but having parents who are wealthy (HHI $500k and up)?