How many of you grew up wealthy? Most noticeable advantage you received?

Genetics wrote:

Other than material comforts, the only advantage of having rich parents is that you're more likely to inherit the genes that allows your parents to become rich (but even that isn't always true). Education does not make you successful; aptitude does.

😂😂😂😂😂😂😂😂😂😂😂

RelationshipWithMoney wrote:

I am not trolling. I am an executive in the software industry. My wife is a physician. Our income has fluctuated between 750k and 1.5m over the last 5 years. We are both in our early 30s.

The 14k amount is not random. That is the maximum annual gift that can be given without counting against the lifetime estate tax exemption (around 5.5m).

We currently donate a lot to charity as does my father. At this point our NW isn't such that we can donate a significant chunk of our NW or something along those lines. It is more of an annual expense. As we climb into the 8 figure range shortly and ultimately inherit my fathers estate it will certainly become a discussion point.

It's $14k per person per year. Your parents could give your family $84k between you, the wife and kid. So while your story is plausible on its face, the gift math is wrong and it's unlikely your dad is giving less than he could to avoid estate taxes.

Even if your mom is dead you are still off. Details matter when you are pretending to be wealthy instead of just regualr rich.

Mud wrote:

So what you are saying is that we need to institutionalize racism against white people and then all will be better. OK. Got it.

Nope. Never said anything remotely like that but thanks for putting words into my mouth.

Have any of you SJW ever wondered that maybe if you didn't categorize everything by color that maybe there would be less racism? As soon as you categorize between white and people of color, you are a racist.

This is silly. White people and people of color (probably excluding present day Asians) aren't treated the same. This is fact. Why would one want to gloss over that? This is the equivalent of saying "if we sweep it under the rug, no one will notice.' Doesn't work that way.

i'm not saying what should or shouldn't be done. I'm only saying being white gave me a lot more advantages than the people around me who aren't white. Nothing more, nothing less.

I came from a wealthy family in LA. My dad is an entertainment lawyer and has many entertainment industry clients. I attended one of the best private schools in the area, Crossroads. I received a Ferrari California on my 18th birthday, my friends were the sons & daughters of actors, singers, directors, producers. My parents entertained the Hollywood set at our home, so I was exposed to the glamour. Our family had a winter home in the Red Mountain neighborhood of Aspen- always a great spot to invite friends for a ski/snowboard vacation.

Yes, I was spoiled and had every advantage a kid could ever want. Money was no object. I got good grades, went to Stanford, instantly disliked a loudmouth jerk in our fraternity, Evan Spiegel, the Snapchat cofounder. The doors that my father has opened for me are priceless. I decided to pursue a legal career as well and will join my father's practice next year.

Growing up wealthy gave me that extra leisure to tithe to the common good and to chivalrous romance.

Or is it possible we were married and had a child within the same year and I no longer have a mother...

WTFBBQ wrote:

This is silly. White people and people of color (probably excluding present day Asians) aren't treated the same. This is fact. Why would one want to gloss over that? This is the equivalent of saying "if we sweep it under the rug, no one will notice.' Doesn't work that way.

i'm not saying what should or shouldn't be done. I'm only saying being white gave me a lot more advantages than the people around me who aren't white. Nothing more, nothing less.

Well, that's true. White people have to pay full price for everything (no discounts or breaks) and get in the back of the line for things such as college admissions. So yeah, it's just soooo easy for whitey.

RelationshipWithMoney wrote:

Or is it possible we were married and had a child within the same year and I no longer have a mother...

I allowed for the possibility your mother died.

You mentioned you started receiving the gifts in your late 20s and you are now in your 30s and that the amount was specific. The gift exemption goes up every few years. It was $13k five years ago, which is the amount of time you referenced in your fluctuating incomes. Physicians do not make that much right out of med school, so I'd wager you are near or past 35.

So we know some time has passed since you started giving these gifts. And you had a kid and wife at some point but the gift remained the same.

Not calling you a liar but I am calling it odd.

We are in our early 30s. My wife is a physician but does not practice hence an escalated income sooner after training.

I'm not sure why I am arguing this.

Later.

Finally a real one.

But what's your 5k PR?

So what's the point of saying it or dwelling on it? It's embracing defeatism for the non white people. Some people are born smart, good looking, etc. So what? It is what it is. Deal with it and move on. Loses make excuses.

RelationshipWithMoney wrote:

We are in our early 30s. My wife is a physician but does not practice hence an escalated income sooner after training.

I'm not sure why I am arguing this.

Later.

I also wouldn't argue if I were lying. And I'm not sure why you'd very clearly and obviously lie. Your wife may be an MD, but if she doesn't practice you wouldn't call her a physician and it would have no bearing on her income. Your father also wouldn't stop at a $14k annual gift, because people who make $1m a year don't even notice that amount of money and he's not coming close to maxing out protecting his estate from taxation.

But you did concoct a nice little tale about how noble and grounded you think you'd be if you were wealthy. Problem is you aren't so you don't really understand what it's like.

KudzuRunner wrote:

But I had rich grandparents who lived on Sutton Place South on the East Side of Manhattan, . . .

. . . A second advantage: my grandmother shopped at Lobel's, a swanky butcher in NYC,

KudzuRunner as always a great post-.

I had a view of wealth that included those cultural references . My grandmother worked for a family, surviving widow actually, whos NYC residence was a house on Sutton Square at Riverview Terrace and Lobel's was the butcher of choice. I lived and worked in Yorkville the first half of my life and treated myself to something from Lobel's as often as I could. Still do--- first backyard charcoal fire of this summer cooked two non-aged 18-20 ounce Lobel's shells. With 4 of their hotdogs for lunch a hundred and a fifty was barely enough to cover the tab. I love it when she says I'll pick something up of you cook it and do the pots and pans.

I am only 19 years old, and still in college. My dad worked our family up from lowerish middle class when we first immigrated sixteen years ago, to upper middle class today.

The largest advantage I've found from my financial safety net, ironically, is the ability to avail myself from obsession with future earnings that afflicts many of my schoolmates. I think I am able to enjoy and reap the intellectual experience of academics much more than my money-anxious schoolmates. Hopefully this will pay off in my future pursuits of knowledge, prestige, and power.

Read up on how asians have to do better than whites to get same schools, the bamboo ceiling, chinese exclusion act, highest percentage of bullying in school, hypersexualization of asian women with emasculation of asian men, and no political power.

The racism against asians is systemic and indirect. We are DEFINITELY minorities so check your privilege. We come to the US many times without speaking English and with poor parents. I would much rather have been a latino or black applicant when applying to med school. Check out the MUCH higher GPA's and MCAT's required of us.

Did you ever charter a boat and hire monkeys to fight each other with knives while taking bets? Never done it, but I've heard it's something rich people do.

Blood dEPOr wrote:

Fantastic thread!

Thread still going strong. Keep the great content coming

Blood dEPOr wrote:

Blood dEPOr wrote:

Fantastic thread!

Thread still going strong. Keep the great content coming

Hardly any rich kids posted. Upper middle doesn't count. So far, the guy from LA has the best one and I always enjoy wineturtle- I always learn something new about NYC whenever he posts.

KudzuRunner wrote:

I would say that one thing that distinguishes people who have wealth and live the lifestyle is that they are entirely comfortable with people serving them: waiting on them, taking their car to the valet lot, working for them, cooking for them, etc. I'm the opposite. I'm actively uncomfortable when I'm in a situation that involves me tipping somebody for something that I could or would rather do for myself, such as parking my car or taking my bags up to a hotel room.

Why should that make you uncomfortable? Did you ever think the person who you gave a tip was ACTUALLY grateful.? Or they relied on the tips b/c they don't paid very much doing what they do? Just b/c it makes you feel uncomfortable doesn't mean you didn't do a good deed for someone who is relying on tips as a supplemental income. Put yourself in their shoes and maybe the uncomfortable feeling will go away.

My biggest pet peeve---people who have money to stay at a nice hotel or eat at a nice restaurant and don't tip. I know what is like to work hard and get paid very little for your services...