Topic: Luxury and spending lifestyle fastest way to poverty rich kids - page 5. (Read 1351 times)

Because of the influence of what they can see on the society, it's all about how lavish their lives are and it's not about where it came from but how they're going to spend that.
The patronage of their parents should be needed even if they have worked their asses hardly for their kids. As that won't teach them to go through what they've been through and how to be well in managing finances.

Spoiling kids rotten with stuff and nonstop attention may stunt their growth into capable adults.  Rather than shower them with goods and too much attention, moms and dads should concentrate on building healthy emotions, abilities for real life, and freedom to choose.  Children got to spread their wings make some mistakes, get back up, and keep truckin’.  Handing everything to them on a silver platter makes for weak sauce down the road and  let the little birds leave the nest before you know it, they'll be spouting their own feathers and flying high if you give them space to self-start. 

The truth is that they always want to spend money because they didn't work for it, and kidds always have the mindset of whatever they want they can get it with the of thier parent's. I don't blame kids who spend money lavishly because it is their parents who gives access and let them know they can always get what they want. If parents limit their kids on what they should buy with money, their taste for spending money will reduce. It is the duty of parents to teach children on how to value money by not lavishing it.

This is not 100% the parents' fault, because the child's personal characteristics also have a big influence on which path he will take. let's say I have a friend who is a twin. Their parents are the same and never differ in treating them from education, lifestyle and economy. This same treatment turns out to produce different outputs. one child likes business, and another child likes the career world. this is real and I can't believe 100% that parents influence what their children choose.

If you think about rich children who become poor just because of their lifestyle, it comes back to the child's personality. high lifestyle if you have a good business personality, I don't think this is a big problem. there is a balance between income and spending.

First, we need to understand what it means to be rich in society. Joe Biden isn't considered a rich man in the eyes of the 1 percent who control the finances of this world. Presidents and Governors are like cerebral figures. Joe Biden's child can go broke, but JP Morgan's generation can't be broke for any reason. Unless something disastrous happened to the wealth of the family. Only a few families are rich in the whole world, others claim to be rich. Lots of people we see running successful businesses are being controlled by the wealth of the 1% and we rarely hear that their generations get broke along the line after they leave the shores of the world. Instead, businesses are passed down in their name and managed by the best managers to keep the wealth rolling. That's why riches are not counted by cash or money, any amount of money can be squandered or useless by a man's children who don't care about the sweat of their dad. When a man is rich, his wealth is being managed by a cooperate body and his children can't have a single control over their father's wealth. Until proven to deserve it, or work very hard to get to the management board of his father's company. That doesn't mean he'll go broke if he doesn't work so hard to get there, but he won't be handed over those properties. Take JP Morgan Jr, for instance, if he didn't work hard to deserve his father's wealth, wouldn't he have mismanaged the whole business and run it dry? These people we call rich because they've got cars or houses aren't rich, they're just in the middle class. That's why their kids can still go broke.

Additionally, giving what you don't have is impossible, wealth is deserved by those who understand its laws and principles. Not just about management or uncalculated expenses. Sometimes an extravagant parent can still groom a child to become very wealthy. What matters is knowing who we are and the way to offer ourselves or gifts in changing society. Take singer Drake, for instance, he grew up in a rich neighborhood, financed by his mother. She didn't have much, but her only goal was to train Drake in a wealthy Jewish neighborhood. That means sending him to expensive schools and buying him costly clothes to live up to the standard of other kids in that neighborhood. Many families had more money than them, but today Drake should be richer than a good number of kids who were groomed in that same neighborhood. The most important aspect of the story is that he learned and built connections with other rich families, who also contributed to figuring out his talent as a singer before he became a star in the music industry. Wealth is different from management. Whenever something is done with the right purpose in mind, I think success will be achieved.

Most people who got from nothing to something as you called them, didn't know how it happened. Not saying they were completely lucky, but they, themselves, weren't grateful. How then do you expect such people to train a child in a way he becomes richer in the future? Op is right, many children from the middle class usually go broke when their parents are no longer there to train them. Due to the same problem of those who claim to be rich, they waste money. The very rich people, the upper class, make sure every move is calculated and don't spend money carelessly on luxury stuff. Instead, they'll buy shares or invest in a new market. These are some attributes of a rich-minded father or family. Not purchasing cars and spreeing money in the air to prove to society that they've got money. People should learn to educate themselves on the class of life and wealth. Less they'll be deceived.

Well that's it, excessive things can bring something bad. Parents should be able to limit their children's pampering behavior, because they will also have their own lives later which may not depend on their parents. "The fruit does not fall far from the tree" maybe this quote fits your words, Basically, children will not be much different from their parents, maybe from attitude, behavior, or speech. So as parents, of course, we have to give something as well as possible so that nothing happens that we don't want.

But it is clear that parents will provide whatever is best for their children, even if it is a request from their children which for the parents themselves is heavy, parents will work on it because they don't want to disappoint their children, and vice versa, as children of course they have to make their parents proud. in what way? one of them is by being independent in all ways, this can make their parents proud even though they have not produced anything big but this can make parents proud.

Because they didn't worked hard for the money and that's fine for those parents because they've worked for them, to give them the best life.
But there's something wrong with today's parenting, most parents that have come from nothing to something should also teach their children how to be grateful.
And how to maintain the wealth that they've obtained.

The title has more sense than the OP. You’re talking about Joe Biden’s kids? If your dad was a one time President of the most powerful nation in the world, I don’t know how dumb you will have to be to get to zero. Not all privileged kids squander their parents money. People in that space usually develop connections that open doors for them even when they are least deserving. The wealthy focus on generational wealth and tend to keep their wealth in the family through family businesses and investments.

The quote “Luxury and spending lifestyle fastest way to poverty” also applies to poor and middle class people. Often times, the middle class often go broke trying to look rich. They spend more money on cars, houses and expensive vacations that their income cannot maintain just to feel a sense of accomplishment.

Unconcious and expectant rich peoples kids really spends more money irresponsibly because they believes there is always more tomorrow at when their parents lives but fails to maintain Such expensive live being if their parents are no more.

OP, your topic title does not equate or aligns with you contexts verily, I am flexible to your message.
Truly, rich peoples kids are mostly to financially misbehave such as reckless spendings of acquiring luxurious thing's that are likely not going to be in used in no time and spending on unnecessary measures.
This is not just about the Canadians and the American kids but kinda global occurances pertaining how the Rich lavishes money.

To my best of knowledge in my country  rich peoples kids  unconciously spends money like there is no tomorrow and like the money is always on a steady flow without considering the risks and stress their parents goes to keep and maintains them on the expensive classes.
They mentally fails to understand that parent would exit the earth maybe before them (kids) somedays so as to prepare and be ready to handle things of bills and responsibilities own their own.
So if eventually at the exit of their rich parents, the rich kids are fund of living wayward lives of no ambitious and the irrepressible living lifestyle such as selling of inheritance at no more financial flows all to obtain necessary and unnecessary things after going bankrupts because there is no more of the financial flow's.
 So with the level of their various addiction to expenditures, they looses the aids not to undermine what the quality or the evaluation of their belongings maybe and they would just sell them out on a less exchange for money because they needed some cash to run their desirable activities.
This certainly runs the unwise and unguided rich kids down to zero levels of poverty in just matter of time their rich parents got exited.

This is not surprising anymore to see rich kids now living in streets or becoming homeless. The world is now full of vices and even addiction that they can develop through early gambling or early exposure to the different crimes happening around. Although the world is not to be blamed, but I believe the surroundings that they have lived most of their life have greatly affected to where they are right now. And without parent's guidance and assistance, these kids will easily fall on the different vices and issues in life.

I can see the reason behind all of this is that their attitudes and actions are not molded in the early years. If only their problems and life's issues were attended and addressed earlier, then they will not resort into living the life they have right now. Although there are wide arrays of choices available, but unfortunately they chose the wrong choice and have no options left but to live from their own choice.

Most likely, these kind of attitudes have developed mostly because of the kind of environment they are exposed to. If they are always accompanied with happy go lucky people, surely they will never learn from them but only unlimited expenses until their finances sucks. This is how the scenario of the generation these days, but I'm not saying this in general as there are some few young adults who stay responsible on their actions and decisions.

This is the best time that parents should focus on their teens. Most likely if they fail to discipline them, the outcome will reflect on how their present lives are and on how they deal with their community and peers.

There's should always a limitation because everythings too much would really be leading into those things which we might not be expecting for it to happen.Everything should really be in moderation.Just like on what most people been saying that giving out the best for your children is the happiest moment in our lives as a parent on which seeing them to live a comfortable life and this is what we are really that wishing for and this is the time that they would become spoiled on the time that they've been given on everything and this is really that basically the cons. As a parent then it would be our responsible on raising up
that well not only in terms of how they do look but also on the gestures and behaviors that they are making because everything that they would acting and showing will really be entirely
reflecting on us as a parent and if they do show something that talks about being irresponsible then we do know on what would comes next.

I don't think spoiling children is wrong because it will also make the parents happy by seeing their children happy, but if they are already adults I don't think it's good to still spoil them, even with the excuse that they are the only child, it's unethical to spoil children who are already adults, because one day they will have their own families that they must be responsible for later. Also, they should learn to be independent because otherwise they might continue to depend on their parents and I don't think that's a good thing, because I myself feel embarrassed if I'm an adult but still depend on my parents.

It's also unethical for a child to rely solely on their parents' wealth, even if they are rich it shouldn't make them dependent on their parents. So it's better to be independent if you are an adult.

It is natural for parents to want the best for their children, however they have no idea if they can keep affording those expensive luxuries as many things could happen that could bring them financial ruin, so some sort of balance needs to be reached when providing for your kids, in which you give them the best that you can while you also teach them to appreciate what they have and work hard towards their goals, not easy to do I will admit it but it has to be done.

Totally agree with this on which parents would really be normally be giving out the best for their kids specially if they do know that they do have the money on providing on everything on which their kids wants then
i couldn't blame out to those parents who do turn out on giving out almost everything since they are really that financially capable. If you are that someone whose really that thinking about financial handling
and management then as a parent then you would really be thinking up on whats the best for your family or for your kids. Financial literacy is important but it would really be depending on certain parents because there are ones who are really that mindful on teaching out those kind of principle and there are ones who dont really care as long they could provide and give the things that their family needs then its already enough.
Somewhat it does really have its cons if you dont really put up that much attention and this is why we do see these type of conditions where usually ending up on devastation because of unwise spending.

Parents would literally want the best for their children, if they can afford to give them luxuries then they are free to do so. The thing is if they do it like it is a normal thing to do, the children will be spoiled as they can have everyone's dream of owning a luxury so sometimes it also has a bad effect on their children. Some would be a bighead, judgemental, and etc. It really depends on the parenting of the parents, if they want their kids to be spoiled or experience the pressure they have experienced before becoming rich. Personally, I think it's a good idea for them to experience the hard life for once, so they would know the difference between living being poor and rich, from that they could have good judgment and be grateful for what their parents provided for them.

Giving the luxury of life to their children is not wrong, but if parents do not teach them responsibility and give them more freedom over these luxuries it will be a big problem. When they are adults and have their own responsibilities, they will not easily respond to problems because they are not used to living under pressure. There are many children of rich people who, when their parents go bankrupt, experience big problems because they are not taught to be responsible for their own ability to earn income, so their lives are much worse when that happens.

Parents should be responsible for ensuring that their children's future is better and if luxury can make them lazy and forget themselves then they should need to be evaluated. Talking about our children's future, we may not be able to predict it accurately, but we can prepare carefully to make it better. The role of parents in supervising is quite important because if they ignore it, children will forget to learn to be responsible for their lives.

Of course, some parents want their children's lives to be better than their own and some of them give their children luxury because they can't feel when they are the same age as their children and there are also some parents who can limit it even though they give them a luxurious life, there are also some who too much to give their children a luxurious life that they cannot take advantage of, which is very detrimental to their children.

By giving them lessons about life, children will certainly be able to learn and make good use of what their parents have given them so that what they have been given will not be in vain, they can take advantage of what their parents have given them.

this is totally a one sided analysis that lacks much ground in reality. True, some rich kids sometimes become lazy and might not take their life all that serious but that doesn't mean all of them are the same.

Understand that having rich and influential parents puts one at a serious advantage in so many life circumstance and if the person is serious with his life, its almost a straightforward thing that the person will be successful in life and will not end up as as a beggar or drug addict. Being addictive isn't all that a function of class, the poor also beg and become addicted so I doubt it's necessary to point a picture of being a rich man's child as a disadvantage of any sort.

Most of the rich parents also set out structures for their children that will help them strive well in the event of their exit from world.