What are the pros and cons of being
very rich?
Answers
Answer:
What are the pros and cons of being rich?
I dated a guy who grew up in a very wealthy family, and I think many of his struggles in life resulted from this wealth. Here's a summary of my observations of what it means to be born into a wealthy family:
Benefits
- Material comfort. Obviously it's nice to always live in a nice house, have expensive toys and clothing, eat good food. Dispels many stressors that plague middle class people.
- Exposure to culture. Wealthy parents are able to enroll their kids in more activities without worrying about the cost. My ex, for example, was coached by world-class athletes in sports like tennis, ice skating, badminton, etc., and also took music lessons for various instruments.
- Career opportunities. Wealthy families are often wealthy due to the success of one or many of their members, so those born to wealthy families usually have access to business connections that those in the middle class lack. Beyond business connections, they may have an easy way into a lucrative position in a family business. Or the lack of reliance on one's own job means that someone with wealthy parents could take more risks early in their career and be subsidized by their parents.
Drawbacks
- Different set of pressures. Wealthy people may not face pressure to keep a 9-5 job, but they often face more scrutiny from their peers to be sophisticated, raise successful kids, etc. Their social connections to powerful people may also mean they have to be very careful "politically," e.g. saying the wrong thing could have bigger consequences. The kids of wealthy people often feel more pressure to do well in school and in other activities, and may also be more shielded from the "regular world" because their parents are worried they could be exploited to take advantage of the family's wealth.
- Tougher comparison. Wealthy people have more to lose and thus are more afraid that their standard of living will be lowered. People who grow up wealthy can feel it's more difficult for them to get to a point in their career where their earnings finally can finance a standard of living that is merely average and acceptable relative to their childhood. This can lead to feeling a lack of autonomy and purpose.
- Finding self worth beyond wealth. From observing my ex I noticed that he's often mixed up with people who are rather superficial and only care about money and status, which has become part of his mentality as well. For this reason he's been in a number of problematic relationships where he doesn't feel appreciated for who he is - so it's a paradoxical problem, where he has trouble seeing the value of people beyond their status, but wants to be appreciated for things aside from this when others judge him.
Answer:This may help you
Explanation:
Cons of being rich
1)Feelings of self-worth and personal acceptance are undermined as you wonder if people are friendly to you because you a great person or because you have money.
2)Purpose to life is reached and no goals to work towards make life seem pointless.
3)Friends and family asking for loans.
4)Expectation of friends and family become unrealistic.
5)Boredom with life in general.
The pros of being rich are not limited in the same manner as the cons, although they could be limited to the choices you make.
Pros of being rich
1)Ability to buy things you couldn’t afford previously.
2)Financial security despite the economy.
3)Freedom to make choices where money is a deciding factor, like working for a charity instead of a salary.
4)Time to do thing you love instead of slaving away at a job you don’t truly enjoy.
The reality is that money is a tool, it provides you with a means to provide nicer material things for you and your family, but if money is your goal in life once you have made the money you need you left to feel worthless. Accepting the power of money and the importance you place on money in your life will change the way you handle the status of being rich.