Topic: Luxury and spending lifestyle fastest way to poverty rich kids - page 3. (Read 1351 times)

Their lifestyle, I mean the kids nowadays their influences and mindset is for me the most common reason why they ends up broke in the future. I am also wondering why there are a lot of veterans in the first world countries ends up on the streets? Rich people who became poor because of gambling and drug addiction is quiet common and this for me will serve as a lesson for the new generation kids to choose the right path.

Impossible! the right answer to your questions. no way for a child to go against the luxurious training parents offer to him. Isn't it obvious that every human wants to appear good and luxurious? Tired rich men don't get moved by that lifestyle anymore, but kids are moved to enjoy the same lifestyle especially when sponsored by their parents. It's rare in most cases to find a child that'll do what Junder said in his response. But, if a child is superb enough to break free from all those lifestyles his parents feed him, he'd be successful in money management, or unsuccessful if his parents don't like him for his actions. Naturally speaking a child is what his parents teach him from childhood. The role of the parents consists of a high percentage of the child's adult life. Adults who visit places with different cultures and traditions can draft out a better way of living their life, but his beginning will hunt him. Blaming the parents isn't required in this situation, but the future of the kids is what presents a shame to most families.

Good-mannered children can come from a well-disciplined home. But a luxurious home consists of wayward children. Who rarely care about the condition of other people in their life. Figuring out a parent who is spending much more in maintaining a luxurious lifestyle for their kids and still controls them to be disciplined, would be the most tedious work in the world. As such kids will have a difficult time learning a disciplined lifestyle. Companions of luxuriously trained kids are mostly arrogant. Growing up with an arrogant attitude explains the home of the child. Some get discouraged by their parents not to set up a business. The cool-headed child who wishes to be disciplined and doesn't follow the training of his parents hardly gets supported by his parents, in terms of business. Such parents want to do it all for their kids, which ends up ruining the future of those children. Most of them fall back to the middle class or lower class.

The only advantage into those individuals who are born with silver or golden spoons is that they do really have the advantage because they do really have the money or tools which you say on which they could really be able to make use or something that wont really be an issue for someone, unlike into those people who are really that born in a poor family on which you would really be still needing to work hard just for you to have
at least the capital specially when you are planning to have some business or investment.Whereas, those people who are rich neither inheritance or something that they had obtained would really be always have the edge among others. Lets just accept that kind of reality. Instead on making yourself that get jealous into these things, it would be always be good and better that you should be making this as an inspiration
for you to work more harder and wiser.

People could really be having that advantage but just like been said that not everyone does have the money would really be that smart or someone does really have that kind of skills on handling out something
on which means that, yes you do have the money but you dont really have the skills or something on which it would really be still that pointless.

The purpose of parents working hard is of course as you said, they want a more decent life and focus what they have managed to achieve for the good of their children, or the point is that parents want all their children to live well or even more than that. But on the other hand, there are quite a few parents who instill a hardworking spirit in their children, they only focus on pleasing all their children and their other families from the results of the hard work they have done and without giving a proper understanding of the difficulty of earning money, which is why many children of rich people live in luxury by doing whatever they want to do, buying whatever they want without thinking and also often splurging, so the idea of the title above is very true that the luxury and lifestyle carried out by the rich does not rule out the possibility of making their parents fall into poverty or return to the lowest point in life.

Understanding related to management really - must be applied to them, too much in fulfilling all the wishes of their children easily will certainly make a child more spoiled and I think it is the wrong upbringing, not infrequently we see the children of rich people who disobey their parents, it is because of the wrong upbringing that makes them too spoiled. So the application of correct understanding, especially regarding simple living, is really recommended.

How a child turns out to be later in his adulthood majorly has to do with his upbringing. And it’s the job of the parents/guardians to bring the child up right and straight.
It’s not natural for parents to spoil their children just cause they want their child to be happy. Parents who needlessly bend over to make their child happy always is cultivating irresponsibility in that child.

How can a child suddenly have a good mindset? When the child has been used to the good life, getting and fulfilling whatever desires that comes to mind. How can that child suddenly start to reject all the luxury given by the parents and strive to live responsibly and independently?
The parents of a child are a huge influence on how the child later turns out to be.

I have a old man who always say that powerful people always give birth to weak people, and weak people always give birth to powerful people.

A poor man is hell bent on breaking the curse of poverty in his own time, promising to be a rich man and he will give birth to his children, giving them the life he never had, but stylishly, he his also ruining them for good, because when they have everything they won't be able to build a strong mindset and pursue some great goals as they grow up, the feeling of they have everything will always linger in.

But the choice is yours, the way you bring up your offspring is what will matter, smart people who are lucky to get rich or through hardworking teach great things to their kids, the financial lessons in the world are not really been passed down in schools, you need to sink it all in into your children, pass that down into them and watch them grow into a bigger family of rich people who get used to financial  strategy by been disciplined.

Never raise your child to be weaklings, do not spoil them because you are once poor and you don't want they to have the same taste of poverty, that's wrong method, teach them to be forever free from that same thing that almost brought you down, this is the best way to go about it.

"Money can help you get ahead or hold you back" I'm quoting this for reference purposes. Consistent thoughts on money has removed the idea of reading, and being joyful in the life of many people. Rich folks bother a lot on difficult problems, which money isn't a part of. Convincing the mind that money removes problems is one example of money holding people back. Families work all day to raise money to better the lives of their children but fail to give adequate home training. Money won't be there to solve such a problem. We can't have it all, and the speed at which it finishes is alarming. Why not hold on to the little things that we can control and benefit from in the future? The children of the rich, in this context, are those who can afford to buy a car and pay rent but still work late hours each day. Such kids miss the parental love and care, yet seem to get anything they'd need as kids; toys and cash. Growing up, the demand increases, and the wealth of the parent decreases. The parent's love and care weren't there initially, and the child or kids grew up with little or no much time spent with their parents. They only believed that whatever they asked of their parents, they'd provide.

Moving forward, they begin to demand more expensive things, and the parents, both, try to deliver them instead of cautioning the kids that money isn't treated in a way like that, where they keep buying expensive products. Keeping calm on such matters, the parents want to maintain a rich lifestyle for the kids. With no financial advise or business left for the children. The parents only work hard and earn high paychecks, to meet up with such demands. When the parents depart this earth, those kids despite having all the money could buy to look rich in the eyes of the society. They'll be far backward from the ideas of managing funds. Like a hammer, money has broken them and weighs in a bigger problem that holds them back. Practicing similar behavior inherited from their parents, the child will continue reckless spending of money as a habit. Until money is gone, and the family goes bankrupt. Many years would creep by before the family would bounce out of poverty. This type of person suit the context of Op's thread. As for the Upper class, 1%, money doesn't dry in the family, because the kids of such men are well groomed on the ethics of financial management.

Yeah,  I agree. Simple love, tough love, harshness and every type of discipline that you may do to your kid, is circling about what you want them to learn while they're kid so that they'll bring it when they get older.

I think this era is very different. While on 80s,90s, early 20s, the life was too simple and poverty wasn't highlighted before but as said just to be a simple way of living.

Today, people from those era have grown up and became professionals and doing things that they can't do while we're young is like our satisfaction nowadays.

And that's what we do nowadays, when you came from a simplistic life, all you want to do is to satisfy yourself and that's what many are also doing with their kids.

Your family's wealth at birth is just the beginning; it's not the end. We don't always think about the unique stresses and demands that people born into wealth have to deal with. They have trouble keeping up or going beyond a heritage, don't they? Dreams aren't always made of silver and gold. Let's switch our attention to the ideas of independence and money management. Rich people can give you tools, but does that mean they are smart? Not all the time. How well you handle and make the most of these resources is the real test of your personal growth, no matter how much money you have. Money can help you get ahead or hold you back; it all depends on how you think about it, right? As for the idea that hard times make people stronger, yes, they can. But not everyone agrees with it. Rich kids have been great examples of duty, and poor kids have had a hard time with the same thing. In the end, things happen to us, but the decisions we make define us

There should be a balance between love and harshness in a parent towards their children so that they don't get spoiled or become too frightened. As a parent, you shouldn't be too lenient with everyone your children do because that will spoil them very badly, but you shouldn't be too harsh on them as well because that will kill them from the inside and they will have a hard time forgetting everything.

I agree with that because I've lived through that myself. As a child, I couldn't see the luxuries of life that I used to see others experience, and to be honest, as you grow up, all those things engraved within you make you stronger as a person and keeps motivating you to keep chasing your dreams and goals.

It's a different feeling when you earn money and spend that money to buy something for yourself for the first time, you feel a different kind of happiness, a sort of pride in yourself and you will feel like you have become independent.

Not all rich kids fall in this net, there are rich kids that are well breed in the moral conduct and management of money while these are not that many it is the other camp of the wayward kids that are saturated all over living the city life like they own the city and every party buzzing in the town you probably see them there. Steadying chopping life without corresponding Investment for the future.

They feel $300k will never get finished as they keep spending, forgetting that when you remove even $1 dollar from $300k it's no longer $300k but $299,999 and the reality is that the value has dropped and that's how it keeps dropping to zero if you keep on removing spending on luxuries without investing it in something reliable and profitable that will maintain the value or make it higher. Before reality hits them they are already on a zero level moving from a city boy's life to the chanties.

Our future is ours to decide what it would be for us, no one is coming to save you if you fail to save yourself with the little you have in your possession going to waste. Real life.

Well, the perspective of the rich parent is that they've worked hard to give their kids a good life and that's also us. But everything has a limitation.

I'm sure that most of these rich parents are like that but sometimes, they go that much and becomes too spoiled and they can't them from being like that.

The best inheritance for his children is not wealth, but knowledge and being responsible for everything he does. Parents always try to accumulate wealth to pass on to their children, but without knowledge of how to manage their wealth well, there is no guarantee that their children will be able to look after this wealth well. Children must be taught how to be responsible before they inherit wealth from their parents, involve them in every activity they do in order to increase their insight into their parents' business. Whatever amount of wealth can still be calculated using numbers, if this amount cannot be added to the income from business profits, then over time that number can drop to 0.

Agreed, a rich kid that enjoys life with the luxury and spends big money never understand much about love. Parents doesn't give attention and the kids seek attention with the money. This makes them have the thoughts of having anything with money. Even the humans will be seen as commodities by some kids. When a kid have grown from a poor background he knows the value of a product as he/she had worked hard to get it. Majority of the problem gets solved through right parenting unlike poor/rich status.

If you can prepare your child in the right way, there is definitely hope for your child to grow up with much better abilities. Children will follow their parents' way of educating them and some rich people neglect educating their children because of busyness and in the end children fall into a bad life such as using drugs and other criminal cases. However, if we generally categorize children who have disabilities or can be said to be homeless as children of rich people this is not necessarily true.

The principle is how a person educates their child and if they think there are limitations then the child should be looked after more as a priority. We also see out there that many children who are born normal also fall into a much worse life and there are even many children like that who are used by other people to sell drugs, become robbers or go to places where they are not wanted.

I think it is really inappropriate to blame someone who was born into a rich family or was born to parents who were already rich as you mentioned. Because basically everyone in this world is always trying to get rich by always relying on the abilities they already have, so it's really not worth blaming rich parents or a child born into a rich family.

Because as long as the child can become more independent and learn to be responsible by taking advantage of every convenience that already exists in his life, then there is no one to blame for this rich condition. Moreover, I am also quite sure that not all rich people's children are spoiled and also not all poor people's children are hard workers, even though on average poor people's children do have to work hard even though they are forced to endure pain. So don't think that to be good and independent every child must be born into a poor family.

As parents, we need to show tough love to our kids. Because if not, they will not learn in life when they grow up.

Honestly, those who have lived being poor when they were younger. They are the people that have learned a lot with their lives.

You may see them buy some expensive stuff and luxuries but it is like a reward for all of their hard work for several years unlike the kids that have grown rich and are easy to spend their parents money.

In my opinion, it is natural for parents to spoil their children because it is the right of parents who want their children to be happy. It's just that if they are spoiled excessively of course it's not good because it's likely that later they will depend more on their parents, by never having their own responsibilities, and of course this is not good.

I also don't think I can blame the parents entirely, because it's a common thing for all parents. If the children have a good mindset, maybe they can reject the spoiled actions of their parents and learn to be independent. So if they themselves have their own sense of responsibility I think they will learn everything independently.

I don't know if we can blame the parents though, I mean as I parent most of the time we showered our kids with luxury life maybe because we don't know them to suffer what we have gone through in our childhood. And so we we acquire money along the way and we wanted our kids to have bright future and then we pamper them with money.

So it's really hard to balance everything as a parent to the point that we might be going over board and it's kinda late that our children just look at life so easy without thinking of themselves and what could be the future for them without their parents money. Again, everything should be balance so that we can teach our kids a good lessons in life.

This is due to the misbehavior of parents who are not good at raising and educating their children. Excessive pampering of wealthy children and the ease with which they obtain everything with complete ease will make them ineligible to bear responsibility themselves and will lead to their bankruptcy after the departure of their wealthy parents.
So the blame is primarily on these rich parents.