This article is amazingly interesting. It’s on entitlement among wealthy kids — err, the children of wealth.
I’m lucky enough to have lived a fairly privileged life. Until middle school, or so, my parents were certainly “well off,” at least in Midwestern terms.
Flying private or commercial was never a choice, though — we certainly weren’t that wealthy. In fact, “wealthy” is probably charitable. I mean income rich. Vastly different thing, especially in the eyes of the tax code.
It afforded some comforts. But my parents loved saying no. Loved it. Unless, of course, we wanted something educational. My dad would eagerly open his wallet to feed us knowledge. And I mean eagerly. I only recently threw away a stack of almanacs, math books, etc. that I had saved from childhood.
To some extent, I think being born with wealth is a disadvantage. The disadvantage is asymptotic, though. Super rich = no problems. Moderately rich = problematic. Wealthy enough to think the world owes you something, not wealthy enough to sit on your laurels.
I know far too many people who came from far more privileged backgrounds who are working hard to ensure that familial wealth never makes it past three generations. It amazes me that wealth can be destroyed so easily — so carelessly — in such a short time. But I guess it is what it is. I welcome the opportunity to blow an inheritance.
Anyway, I’m not sure I’ve ever really read anything from the New York Observer, but I found this article worthy of sharing. Give it 15 seconds…maybe you’ll end up giving it 5 minutes.