JJinVA
Well-Known Member
heres one example. i am born rich so i will inherit alot of wealth in terms of property simply because my parents bought a big house decades ago. but someone who moves to my town and earns a middle class wage will never be able to make up for the fact that the cost of housing is way out of wack with wages. so theres a lack of economic mobility with this example.
True. But due to the inherent nature of someone who is given wealth versus earning wealth, they will ALWAYS lose that wealth. They have nothing invested in it. It isnt their own accomplishment. Ive seen it too many times to believe otherwise. Just like the people who win the lottery and have MILLIONS of dollars handed to them, and then are broke in a few years. Not everyone who has wealth has the ability to manage it.
The sages of old used to say, "Invest in knowledge. You have to look after wealth, but knowledge looks after you."