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Why I hate #RichKids

BB April 12 Champage

The truth is I don’t.  The reason I bring this up is because I saw the cast of #RichKids on Bethenny last week.  I was a little bit disturbed and a whole lot surprised as to what they had to say.  The six cast members of the Rich Kids of Beverly Hills are a mix between hardworking and completely spoiled.  They are all in their 20s and they were all born into money.  Some cast members now make their own money and some just live off their parents.  Some cast members work full time and some just party full time.  How do you feel about that?

You can be rich, but you don’t have to be spoiled

I have mixed emotions about the things these #RichKids do with their money.  I believe in having chances in life, but I don’t believe in having things handed to you.  I was not born into a rich family so I can’t speak first hand, but I think rich people should just be normal people…with more money.

Just because you are born into money doesn’t mean you can’t still wake up every day and go to work.  You may not need to work for anyone else because you have the money to start your own business.  You can afford to start your own company and do whatever you want to do, but you should still do something.

Lots of people would kill for the chance to wake up every day and do what they love.  Even more people would like to wake up and do what they love for themselves, instead of having to do it for someone else.  Are you one of those people?

#RichKids can good with their money

If parents don’t make their kids work that’s a whole other issue.  I think that people should always have to work for what they have and people should always have the will to be better, to do better.

I had a client whose parents won the lottery two years ago and gave him a lump sum of $3 million.  He continued to go to work as an accountant every day.  He maintained his daily routine and even kept the same girlfriend and same apartment.  His lifestyle improved, but he continued to make his own money.  When I asked him why he kept working he said because once you spend money it’s gone.  He keeps working to maintain a sense of normalness in his otherwise privileged life.

If I was a #RichKid

Why can’t people with money just be normal and nicer clothes with better apartments?  I am not going to lie.  Some days I wish I had money to do whatever I wanted to do.  I wish I had the money to take longer vacations in five star resorts and I wish I had the money to live in a bigger apartment that was paid for in cash.  I am not a big fan of paying rent or making mortgage payments.  I would like to keep all the money I make for myself instead of having to pay bills.  But that is my dream world.

I would definitely still get up and go to work every morning.  I’m not sure what I would do, but I would love to work for myself.  Or at least I think I would.  Being your own boss seems stressful and I’m not sure I would like it, but I would like to try.  That’s what money does.  It gives you freedom to new opportunities that you otherwise wouldn’t have.

Photo by Jeffrey Kontur

Comments

  1. I love the line from the movie The Descendants, “You should leave your children with enough money to do something, but not so much as to do nothing.”

    I do find this a very interesting question, since I grew up on the poverty line (even though I didn’t realize that until later in life), but now live in a very different psycho-economic reality. Even with more money though, some habits stick with you. Hopefully we can teach the next gen to mindfully make use of money.

    • That is so true. If I had kids I would give them enough money to make their life better, but I wouldn’t give them so much money that it made their life easy.

  2. My cousin’s family before was having a problem financially, but when the time comes that his father got a good job in abroad, then we noticed that they slowly changed from the way they act. I know it’s not right, but it’s just my observation. They always talked that they can’t sleep without an air-conditioned but how come they had lived before without using it?

    • Money does change people, sometimes they change for the worse and that’s sad. As a financial planner I can say that money brings out the worst in people. I have seen sibling relationships ruined over their parent’s estate. That’s too bad. Money is just money, it shouldn’t control people’s behaviours. But it does.

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