#1
#2
Being a surgeon myself who grew up with no money, I uploaded $500 into the tech's Amazon account so that we could still enjoy the joke without ruining this guy's financial life.
#3
I remember her crying to my dad on the phone and saying, "How am I supposed to live on only $2 million a year?!?!"
Meanwhile, my family are teachers.
If you have enough wealth to no longer worry about the cost of food, shelter, gas, clothing, education, medical care, etc., then your perspective is going to be very different from anyone who’s barely making ends meet and living paycheck to paycheck.
Understanding what ‘regular’ people worry about means that you have to interact with individuals from all walks of life, not just the folks who go to the same country club as you do. Genuine empathy starts with being open-minded and actively listening to someone instead of making assumptions about the challenges they face.
Now, that’s not to say that rich people don’t have anything to worry about. Far from it. A major source of anxiety is worrying that you might lose your wealth… especially if you’ve worked hard to earn it. Bad investments, global market shakeups, and risky business ventures can make generational wealth evaporate fairly quickly.
#4
#5
That was over 20 years ago and it still sticks with me. Did she think I was washing other people’s dishes because it was fun for me? I was there because I didn’t know how I was going to eat that week otherwise.
#6
Also ones who throw fits because they didn't get the *right* car.
It’s probably fair to say that many parents want their children to be better off and have access to more opportunities than they did growing up. However, even if you inherit a vast amount of wealth or hit the jackpot in the lottery, it doesn’t automatically mean that you’ll pass it on to the next generation. Mismanagement, reckless spending, and a poor work ethic can wreck the family fortune.
In short, instead of being wasteful, it’s helpful to be grateful for what you have and to recognize the opportunities you’ve been given that others might not have access to. Wealth also brings with it the means to genuinely change the world for the better through business or charity ventures. And a good rule of thumb is to always live below your means and to spend less than you earn, no matter how much you have in the bank or trust fund.
#7
Despite not earning money because everything shut down.
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#9
Later, when discussing the trip, he said he didn't get why the nanny didn't enjoy herself and take time to ski. I asked if she knew how and he said no but there were lessons there for something like $200-300. Knowing my own budget, I asked if the nanny made more money than I did and my boss said no. I said there was no way his nanny could afford those lessons.
He scoffed and said if that was so it was because she didn't budget properly. He added that it wasn't like she had to spend her money on rent because he knew she was still living with her parents.
I just marveled at how he never put the pieces together at how much money $200 was to someone in her situation, or that the reason why she was living with her parents still was probably because he wasn't paying her enough.
Something to beware of is so-called lifestyle inflation. Essentially, this means that a person starts spending more money once their income increases, as they hope that buying more new things will lead to happiness. Because your spending increases alongside your higher income, it means that you’re likely not saving more money.
According to Investopedia, some of the things that can trigger lifestyle inflation are getting promoted at work and graduating from college. Generally, you can avoid this issue by placing more value on experiences rather than buying material things, as well as prioritizing your financial independence.
“There’s nothing wrong with upgrading your lifestyle as you earn more money; the trouble comes when you don’t increase your savings and investments at the same time. Focusing only on increasing your spending means you’re likely to still live paycheck to paycheck and struggle with creating a financial buffer to protect against future emergencies.”
#10
I've never gotten an allowance in my entire life. The very notion of someone handing their kid $800 every month is still completely baffling to me.
#11
Me: “I literally can’t imagine ma’am. Now, do you need any more adjustments to your blinds?”.
#12
What are the most out-of-touch things that you’ve ever heard someone who’s well-off say? What do you think it would take for them to change their perspective and become a bit more down-to-earth?
Have you ever felt like you’ve said something tone-deaf when talking about spending and wealth? If you have a spare moment, we’d love to hear your thoughts! Feel free to share them below.
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#16
Calls me in the middle of the week (it was Tuesday) and informs me that I am going to Cyprus with him for two weeks, flight is going to be in three days if I agree. Let me inform you that I am a student, I have a part-time job and two cats.
It was really nice of him to take me on a trip, but I can't since I live a middle class life. Took me one hour to explain to him why I can't go.
#17
The family was going to Paris for holiday and invited me to go. I was in college and made $14k a year.
Everyone was upset I wouldn’t go. Businessman offered me a $50k loan until I could liquify some assets. He was shocked to learn I didn’t have any.
#18
Then our Finance Manager actually showed him what that would cost. His response?
"Well...I could do that if I wanted to, even if the business can't."
We didn't get new cars...
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