Bitcoin Forum

If you want to be rich sell to rich kids.
Now let's talk about homeless people in USA and CANADA.
The world don't know that many of those homeless people are from the rich families.
And If they been spending years no stop then even they will get a lot money they still can lose it fast.
Once the old pals will die like joe Biden who's hard working and tough guy then their kids will go broke.
Canada and USA have the same problem and Im not just talking i know personally those kids who use to have money but now they are dead homeless or drug atticts.
This is the reason why USA and Canada native race become smaller and hard working indviduals taking over the country while native people falling.
You looking from TV and see that homeless people you think they born poor but it's not case i've met with many who use to drink and Party in Europe bahamas like 100-300k easy in one year and now they are broke.
Once the guys like joe Biden will go away their kids can't handle nothing maximum will be that they easy targets for foreign sharp minded people to take advanched of the situation.

you’re saying that we should sell drugs and liquor to rich kids who are now poor because of drug addiction and alcohol abuse?

the example you used are kids partying and spending money like it’s nothing it’s true that you could have them as your target market and gain profit but this will weigh in on too much on my conscience i also don’t think we should sacrifice our own safety just to get rich

instead you’d want to sell to middle-class people sell them items that are luxury looking but are cheap i’m not saying to scam them but a lot of middle-class people buy fake goods because they want to seem rich for some reasons they’re the most expressive about their purchases

There is some rich children that are not properly breed because of how they being engulfed by wealth causing them to lose focused which quickly create a channel for excessive spending by indulging themselves in one form of drugs or other, they mostly and easily turned to drugs addicts that why is most family's today easily get broke whenever their parents aren't living anymore. All these is a result of lack of wealth preservation and orientation, and of course many of them don't want to learn and they don't care about their lives because possibly their government taking good care of every single citizens or maybe there is proper medicalcare which ensure the live of her citizens are always safe.

The rich kids are founds of living a luxurious life without knowing if they don't plant or sow (invest) for more money they often ends up being a beggar why due to lack of planning and funds misappropriation which can easily leads to starvation that often stirs up to rehabilitation.

Knowing a few spoilt rich kids who are now homeless is not a good basis for claiming that many of them are from wealthy homes. Many of those homeless people are immigrants, while others are on the streets because of economic problems such as unemployment. Only are few percentage of them are rich kids who are suffering from all sorts of behavioral problems. But do you think it is proper to sell drugs to these rich kids who need help, only drug peddlers will do such.


Keeping wealth for children is not a guarantee that they will remain rich or comfortable. Many of them lose inherited wealth due to luxurious lifestyle. Parents should spend quality time with their children to imbibe the right attitude and values. Some rich folks prefer to pursue businesses and politics while allowing strangers to raise their children. These children will end up becoming addicted to several unhealthy habits that will make them lavish all they have inherited. Off course some hardworking people will take advantage of the condition of these spoilt rich kids to buy cheap houses, cars and other items.

Well, that's the problem, I don't think I could enter their social circle to make them poor. This is a kind of bet on the chance of exchanging wealth levels. After all, this is just a poor guy's way of thinking that getting rich unnaturally is that easy.

This actually makes sense since spoiled brats will be the most gullible people out there when it comes to spending and they're the most likely people to be buying luxury items so it makes sense you will have them as your target market if you want to create a successful business but got to make sure that your product is something they can flex on other people and make them raise their status.
Sure the example is a bit wrong and will deliver the wrong message but if you actually use common sense, they make sense that you will have these rich kids as a customer base for your products because they don't mind spending money since they're mooching off of their parents' money. It's difficult to do the luxury looking but cheap because the looks of luxury brands are what's extensive to do and you can't do that with cheap labor and your cheap labor isn't a sweatshop somewhere in Asia.

The problem with some of the young people today are their attitude ...and now I sound like my parents, when I was still young. These people seem to think the world owe them and not the other way around.

The majority of them want to start at the top and they think everyone can be an instant rich social media influencer.  ::)  They look up at these people as if they are some kind of superstar.

The "selfie" generation need to understand that hard work and self sacrifice are the building blocks for success. You can work hard and smart at the same time.... and you do not need to live on fast food to survive.

A lot of the rich kids that ended up on the street, never worked for the money that they splashed on parties and booze and drugs, it was inherited from their hard working parents.  :P

I don't know that the OP is taking the problem seriously when the majority of homeless people are refugees, unemployed people whose homes have been confiscated,... and in the case that the OP mentioned, I think there are not many.

Going back to the main issue about the lavish spending of children born into rich families, I see the problem as a balance: if they can afford to pay for those things, they have the right to do so. I don't know if you can imagine, people who have money also know how to share it with charity, so don't just judge negatively, but be fair to all sides.

This attitude has become a crisis problem for young people today. This problem can give rise to an increasing sense of prestige and make them lazy about working and thinking about getting rich quickly without working, and they turn to gambling and other stupid activities.

Who would have thought, isn't this also the fault of parents who fail to educate their children?

Rich people always think that all problems will be solved with money. so that rich people continue to pursue their careers in the world of work and in the business world, with the aim of continuing to enrich themselves, but unfortunately most of them ignore their most valuable asset, namely a child.

And getting drunk and gambling is not what they (young people) want, but it is an escape for them. because when they go home they don't get happiness or warm love from their parents, because both parents are busy with work.

And that's not a small number, there are many children who lose their parents' love, so that when they grow up the child becomes someone who disobeys their parents. There is even a child who has not received parental love since he was born, because as soon as he was born he was immediately taken care of by the nanny.

So, as parents, no matter how busy we are, we spend as much time as possible directly ensuring the development of our children, because they really need the attention and love of their parents.

Lifestyle, cost of living, and financial management are interconnected with each other. I don't know what the exact minimum expenditure is in Europe but clearly the demand to continue to meet needs will be a major factor. The habit of partying without having a stable source of income will gradually make us poor. That is why the role of financial management must be studied in order to survive.

The children of rich people depend on how their parents educate them, whether they continue to provide them with all the facilities they ask for or whether they give them the right upbringing. But generally these children always behave spoiled, feel that all their needs are met and don't think about what the future will be like. The environment and friends you associate with determine which direction you end up in, it's not surprising to find several homeless people who turn out to be former rich people whose lives have gone too far.

Maybe this is true. But not all children from rich circles easily fall into a free lifestyle and waste money on partying. Because I also have many acquaintances with rich people whose children are well educated. Even though they are rich, in reality their children are not always given freedom, especially when it comes to finances. Many rich people actually encourage their children to live independently without relying on the wealth their parents have. Because their parents' property has definitely been passed on to them. But they must have their own pride in making achievements with their own hard work and hard work. One of my college friends even has to work part time even though I know his parents are not ordinary people. yes his parents are prominent rich people. But he said he preferred to live by relying on the money he earned from his own hard work. But yeah, I also had acquaintances when I was in college, they were rich people's kids who changed cars every day and showed them off in front of the campus. But I know their parents are rich people who are too busy with their business so they don't have time to educate their children at home. and only rely on private teachers to educate their children. so that the child lacks emotional education. Well, they tend to be lonely at home so they choose to look for fun and try to escape loneliness by partying outside and constantly wanting to be the center of attention among their friends. And one day his parents will realize that they were wrong because they were too busy with business and forgot to pay attention to their child. So it is possible that their children will not become heirs who can keep the family business successful.

Wealthy families usually go bankrupt in the second and third generations, especially if the family's wealth is based on one person or individual, but the bankruptcy of these families may mean that they transform from billionaires to millionaires or even ordinary individuals with a few thousand dollars annually and not homeless or homeless children.

In my country, there is a social system that makes it difficult to have a homeless child among family protection, as distant family members are the responsibility of the family in addition to government care, but they may be poor or have low income.
The problem of homelessness is not related to economic conditions as much as it is related to social and family factors and sometimes addiction and psychological problems.

Here is a very simple answer - from childhood, children should understand what money is, what it is worth, and what a tool it is.
The unlimited filling of children with money is the best option to steal their future.... Better spend your time socializing with your children and educating your children. Don't "buy" their love and appreciation with money, it won't do any good !

And the most important thing is to convey 3 thoughts to your children:
- resources of rich parents are not unlimited (either money or parents themselves will run out), and it is not a fact that you will become an heir :)
- you should be able to earn money on your own, and provide for yourself on your own, and be independent in general.
- and a very important idea "money is a great servant, but the worst master".

Most of the challenges the rich kid encounter lately, is due to over pampering of kids by there parents and always being afraid of something bad will happen to them, whiteout knowing that what they are preventing is the real problem they will in the nearest future. In my region I discover that most rich kid always full victim of fraud like stealing, pushing of hard drugs like cocaine, raping, kisnaping, always taking loan from co-operative organization and others all this is as a result of no longer being satisfied with the money they are seeing. Emagine a kis at 17 years who have not made $30 of its own for the first time in life is spending $500 a week. Probably if he/she reaches at the age of 30years, h/s will be spending maybe $3k per week. And most of this unnecessary expenditure is on drugs.


Most of the the real cause of money mismanagement amongst rich kid is because they haven't tested suffering in there life. It is good sometimes rich parents exposed there children to some sort of place where they can work and earn money and take full responsibility of themselves, sothat the will know the inportants of money and how to utilize it even when their parents are no more.

If there are kids from rich families who suddenly become poor, it's probably because they chose to live a life that doesn't depend on the wealth of their parents. There are others, like the children of the rich, who do not want to depend only on the wealth of their parents.

Because they want to show that they can do what their parents did, or others because they did something wrong that made them become beggars or homeless people, there are various reasons that we just don't really know all of them.

OP, why do you care about other people? Is it good to count other people's money? Why should you care about their problems, or, on the contrary, their joys? You can't judge others; look at yourself. Many young people use their parents’ money, but it’s their money. Where are you there? Maybe someone is not managing their finances correctly, but why do you care?
You must look at yourself. What are you doing? What path are you going down? Rob the rich or get them addicted to drugs will eventually backfire on you.
If you know how to manage money and act, but do not judge others, this is not your freedom.

People's way of losing their money immediately is one of the reasons for Lifestyle inflation and of course, they want to get in the trend and have a superiority over others they keep buying the things to flex to other they don't mind the money because they get inherited a large amount and they didn't work it hard too much just asking to their parents they give it to them immediately, but in the reality, if their parents didn't support at all, limit the funds and let them take with their actions sure sooner or later they will immediately lose their money in just weeks or months. Without proper money illeterate makes people poor not in just in money but in mindset too.

Why Joe with a small letter? ;D

Bad parenting leads to spoiled kids, that will spend money unwisely and become poor, maybe. That is the problem, but not luxury and spending spree. Fish rotten from the head.

Truly if you want to make it rich you should sell and what you have to sell should be something of good value not just necessarily to the rich kids but something that could be of good market importance in the society. Possibly ideas, goods, services etc that could generate huge revenue or profit.for you as that would make way for financial inflow for you.

Notwithstanding, as you have said, the poor rich kids you see today at the street are as a result of their carelessness and financial mismanagement. They spend alot forgetting that spending so exorbitantly would result to financial draught for them. The one thing is that they do not work so they do not know how to generate income or not to talk of manage business and in most cases the wealth they lavish were inheritance left for them and as a matter of fact, they become abusive and misconduct themselves irresponsibly. They do this forgetting that people that were to guide them and help them grow as they did to their parents but pride and ego would not allow them as it seems that they have arrived and it derails them of the opportunity to grow. At the end the crumble and fall back to zero.

Such cases of "once rich and now poor" could be prevalent in US and Canada but I think it's happens everywhere in the world and it's mostly caused by bad parenting. There are parents who would tell you they don't want their kids to suffer because they grew up from a very poor background. So, in raising their kids, they tend to give them all they ask and don't allow them to do anything for themselves which have a deliterious effect on them. When they parents are no more, these kids become poor in no time because of their excessive spendings and inability to manage the businesses and properties they inherited.

If the parents doesn't want the child to suffer or pass through the struggles they faced I think that reason is valid, but parents nowadays get too serious with that idea, I don't see anything wrong with rich kids spending their money and living a luxury life, if the parents can't caution the child then it's for their own  good or bad.
And not all rich kids get poor when their parents are no more, even if the op has seen things like that in Canada and US, that doesn't mean all rich kids who lavish their money get poor when their parents are no more but very rare.

These instances are not new anymore as there are a lot of spoiled brats that don't care on their spending habit and now they're living broke and homeless. Not only on those countries you've mentioned but certainly in all parts of the world. This happened mostly because of lack of guidance from the parents because they're also busy earning for living. Also, the current environment they're exposed to is another factor that made them who they are today and are mostly financially broke.

However, the blame should not only on the parents but on the kids as well. There are some instances that no matter how the parents would try to discipline their kids, the kids still insist on their preferred way of living, now look on where they are right now. They must be regretting for sure but it's too late already.

The tales of privileged youth wasting their money are warnings. Is financial success guaranteed by birthright? Evidently not. Financial mismanagement affects rich and poor alike. This highlights the need for personal finance education for all, not just the poor.

Your observations on wealth trends in the US and Canada, particularly the rise of hardworking leaders, spark a wider discussion. Could wealth paradigms be changing? This shift favors self-made success over inherited wealth. While offering opportunities, this transition emphasizes financial awareness and preparedness disparities in society. A more holistic approach to financial education should involve earning, investing, and properly sustaining and expanding wealth.

Anyone that has money but doesn't know how to spend it wisely may end up being poor, the worst scenario to have seen is about those who by the virtue of being lucky finds theirselves into a life changing once chance opportunity and they make money from it, but instead of them spending wisely and investing, they waste up the resources and work out nothing to make additional efforts to the source, they are the kind of poor rich kids, we must mak use of every opportunity we have for securing the future.

For the first time, I heard that people from Canada and the USA are homeless and this is because of the misinformation that I experienced that in these countries, there are no poor people and every person lives their life above the poverty line. Now coming to your point we always hear that educate your child in the way that they understand about what is right and what is wrong. When they contrast these two things they will not waste money instead they will find other ways to grow their business and invest in other things also.  When we leave our children without asking anything about what they are doing and providing the things before they were asked for will make our children more irresponsible and after our death, they will destroy the whole bank balance and come to the road.

   Wealth shouldn't be a leisure to wasteful spending and affluence lifestyle without proper management and ways of regeneration. This is an error most kids make whilst living, they tend to believe that it's always there and then end up not being able to make back the wealth. They spend wasteful, make unnecessary expenses and the saddest part is the fact that they are not cautioned. There's always been a notion that money will be spent wisely if the struggle of making it is remembered. They ought to be guided on management tactics, financial stability too, they should not live so relaxed ignoring every challenge that may lie ahead and be so certain that there's enough because there and then they'll be so surprised at how swift the wealth would run dry. 
   Their upbringing tend to get spoilt and then, they'll cause the family to go back to starting from scratch. For me, they should be guided and taught right, they should be held accountable for everything, they should learn ways to maximize the funds they have instead of wasting,  it's no one's wish that their whole struggle will go down the drain, therefore one should be able to keep their wealth in safe hands to ensure that its properly grown and dispersed too.

The problem of children of wealthy people becoming homeless is an unfortunate one. It shows that money is not always a guarantee of success and happiness.

Children born into wealthy families often have a prosperous and material life. However, they may not be prepared for the responsibility of managing a large fortune. They won't have the financial skills or experience needed to make wise decisions about their money.

This issue is also a reminder that we need to educate our children about the importance of saving and investing, even when we have money.

We need to teach our children how to manage money properly. At the same time, we also need to teach our children the importance of working hard and being independent. If we equip our children with the necessary skills and knowledge, they will be able to be independent and successful in life, regardless of their background.

For children, never teach them a luxurious and hedonistic lifestyle, they will be mentally damaged and become very wasteful with money, they will even sell the inheritance they got from their parents when they are addicted to a luxurious lifestyle. It is wiser if we teach our children to respect money, when they are not taught a simple lifestyle then they will suffer from "prince syndrome", usually someone who suffers from this syndrome will only experience a difficult life in his old age, he will fall into poverty and bankrupt.

It's pretty clear that your native tongue is not English, so I'm assuming you're not a United States or Canadian citizen.  I live here in the United States.  I can tell you that there's really nothing backing up your claim that kids of rich parents are the ones that go poor.  Honestly, it's typically the opposite.  There's really no data to back up these claims, unless I'm not seeing something that you are?  I just can't agree with you at all.  It's simply not true (overall...of course it happens).

If you want to get weathy from the money you earn to make more value from it by investing in it. Money is just like the smoke that vanish I the air , when money comes in and it is not being use in a way that will bring more value it will end up in becoming waste . The millionaire that we have, they were able to achieve wealth because they really understand how money is been used to generate money.  When people spend money in a wasteful matter , it is just a way of going  down to the lowest financial level.

Key lesson here is to not spend money faster than you make it. Due to capitalism and consumerism, a lot of people tend to overindulge and overspend on things that aren't really a necessity. One good example is coffee. You can make one at home for less than a dollar, but the younger generation tend to buy from huge coffee chains for the aesthetic appeal and to 'belong' to a certain trend. Imagine spending $5 to $10 for a coffee that you will only post on social media but not really drink it. How pathetic is that?

Those who are frugal and only spend when necessary tend to do better long-term, as they can manage to save and invest even with a small paycheck, though the investment part is another topic that can be had for this one.

Having a person rich is only in the person had at that position in which he got all the resources and he got all the energy to make himself rich but he can't even struggle for it to make him rich. Then this would be definitely his mistake. But if a person didn't even have resources at all and he didn't know how to make himself a rich person then also there would be more luck and less struggle. As resources are also the important one to use is as the source of richness.

Most probably the people who are from rich family are now poor then they are not due to their families, this may be due to their luck and may be they didn't struggle for that which they have to do.

Sons or daughters who are living on having a wealthy or rich family would be most likely be ending up on this one but actually parenting does play a great role when it comes to this matter on which your kids
wont really be ending up on a disaster if you are a parent whose really that have that kind of minding about your kids possibility of going lost of track specially if they are really that having  that too much
access on everything since you give them money.Its understandable that we do really love on giving them the most comfortable thing into their lives on which they wont really be struggling on something
but we should really be making it some moderation because if we dont then they would be possibly go into those things which arent supposed to be there like having drugs, gambling, spending carelessly.
It is really that truly a disaster if you do see your kids on such situation, therefore it would really be just that normal that if there's someone that could be blame then those parents
does have that kind of responsibilities too but of course not everything should be blamed because there are ones who are really that well trained or teaching them everything but still
it turns out to be useless or pointless.

Like what exactly? Kill this idea because that's not true. If you want to be rich, sell to the poor but what you will selling must be  a need. Something you know they need to use atleast once a day, you will see how very demanding your business will boom if it's become successful.


Those homeless kids are only from rich families, some are from average families and the rest from poor families especially the ones that can't afford 3 square meals and you what cause some of this is because they are disobedient kids that abused western life just because they think their families can't touch them or scold them, in Africa we hardly see homeless kids because the parent are meant to instill descipline into you in many ways.

By the way, your topic is misleading. It doesn't portray what you are trying to communicate. I was thinking it's like spending extravagantly will lead to broke life.

And that is one of the main problems we have with our culture, spending our money is fine as that is the main reason we work so hard to get it, however many people now spend it in stuff that is useless or that it could be had very cheaply almost effortlessly, and the example you give about coffee is spot on, as this is not only about the cost, as making a good coffee is very easy as well, and yet we have a lot of people spending a lot of money over something they could have made inexpensively at their own homes.

I'm not very familiar with the two countries you mentioned so there's not much we can discuss, but from several news sources I've read, crime rates like this don't only occur in these two countries. Even in my own country, homeless people or children with disabilities are used to make money by irresponsible parties. Ironically, when this happens those in authority cannot control children like this, even though they have an obligation to ensure the lives of their people.

If we talk about percentages and is there a source that can explain this so that there is a comparison that we can see because talking about assumptions we can only see it in a small scope. It's like knowing some homeless people are being exploited by those who have no heart and no sense in seeking financial gain.

Therefore, educate your children and our children because crimes occur not because of their complete will but because of opportunities that force them to be chosen from the hands of evil people who have no heart.

Some are practive and some aren't and since people are different when it comes to spending then its their own choice since its their money. It is always been that recommendable that we should really be spending up wisely specially that today which there's crisis and if you are just an average earner then it would be just that normal that you should be making some budgeting or else you would get overdropped.
People would be only realizing when they are experiencing hardship but into those times that they are abundant then they dont really care.

Live according into your means and not with your wants. It nots bad to buy up something on which we do hope or like for but everything should really be in moderation because if you do find yourself
not to be able to getting in line with wise spending then sooner or later you would be ending up on sleeping on the streets. Leisure and unwise spending should be controlled.
People do easily switch up or enhanced their way of living on the time that they will be experiencing some raise in salary or getting promoted etc..

If that rich kid has a business whose revenue can sustain a life like that then i don't see any problem here. We should maintain our lifestyle in such a way that it doesn't cost us our financial ability. If someone's spending is greater than their earning then this can be a problem for him. So we need to appoint someone for our financial management if our financial ability allows us to do that. This will not only minimize our costs but also maximize our investment strategy as that person can enlighten us on new business opportunities.

parenting is not an easy thing to do, there are many rich parents who actually want to make their children happy but in reality, it actually makes their children become spoiled and unable to be independent, i often scold my little sister because she always buys luxury things that she didn't really need but when reminded she actually scolded me for taking care of her money lol.  wrongly educating children is the root of poverty, rich children who are not given good moral education by their parents will only become useless people in the future while those born from poor families continue to work hard to change their lives and eventually become rich, life is like a spinning wheel.

this is why it is better for the kids to experience hardships in life because they will be more attentive with how they will spend money. they will also understand early how to take care of their money and how to invest it in worthwhile things or assets.
and also, if a poor person becomes rich and goes back to being poor. it won't be much of a problem for him because he knows how to handle such situation.

It's not only the US and Canada that have some homeless people; even in some other countries around the world, there are also homeless people. For example, in my country too, there are people who are home as a result of the irresponsible lifestyle they have lived, like sleeping in a hotel where you have to spend like $300 for a night or even more. Some of them too are taking hard drugs, which require a lot of money, and they end up spending all their money on drugs until they have nothing left to their name, not even shelter. It's just like a general thing (problem) that happens to some people who feel that enjoyment is only what they have to be doing all their life; they don't want to work and reflesniah their pocket from which they are spending, probably because they have people they are relying on or dependent on.

Definitely not a case for every rich kids but it do happen. Since they are so used to abundance in life, they don't value the money their parents have worked hard in order for them to be in that lifestyle. Since kids don't work for that money, sometimes they become reckless and tend to overspent. Just because your parents have enough money, doesn't mean that you'll be impulsive when buying luxurious stuff. That's why even if you are rich, parents should teach their kids how to value even a small amount of money as they grow up.

As for cases where they used to be rich but became homeless, I think the common cause for that is addiction like drugs, liquor, or gambling. It made them use their assets on theses things that they end up being in the street, homeless.

I think those who teach their children well will not be affected by this.
Usually a businessman will teach his children not to waste money, but to take advantage of existing facilities instead of spending money blindly, although not all teach them like that. Rich people actually always inherit their wealth to the next generation.

Financial discipline is important, but don't humans want to balance saving and enjoying life? We support living within means, but don't neglect psychology. Don't occasional indulgences bring joy and financial health? Finding balance between saving and spending may be crucial. Spending less and investing in things that make you happy and valuable is important. Isn't personal finance about knowing your priorities and spending accordingly? If done mindfully, even wants can fit into a budget without causing financial devastation.

Lifestyle inflation is a trap many fall into with more incomes. How do we develop a long-term financial health attitude over short-term gratification? Building financial resiliency, right? This requires budgeting and analyzing our spending impulses and emotions. By understanding why we spend, can we better balance saving for future and living for today? Personal finance seems to be more about self-awareness and adaptability than restrictions.

I agree, Businessman teach their children how to do some chores in their own wihout asking for help from some of their house mates. This kind of training are usually doing by a chinese businessman wherein they always tesch  their child how to save money and invest it at their young age,They didn't tolerate a child being spoiled so that they can get along other people as well as their own employee.

This is indeed quite appropriate to do because it makes perfect sense for rich people to pass on their knowledge and wealth to the next generation, and in this case their own children. I am also quite sure that rich people will teach their children about good things and also about how to use money well for everything that is needed. This is quite common for everyone, especially rich people whose souls are business people who have been successful in that field for a long time.

Chinese business people have a better concept in this regard because they really want to see their children be able to live independently and want to save for the future and be able to run their own business with direction from their own parents. Successful business people usually really value the time and money they have so they will not allow their children to spend excessive amounts of money on unnecessary things. And we can take this as a pretty good example for our own lives.

Even having special time with family is a challenge for rich people, I don't think they can teach their children anything you say well. On the other hand, rich people spend more time with business than average people, so environmental influences are actually more dominant in shaping the characteristics of their children.

Every parent has a lot of income, even though I think they still teach their children to make good use of the money they have and don't teach them to spend their money on things they don't need, and it comes back to whether the child listens to their parents. or don't care about it because they feel that their parents have enough wealth that they can use for their own satisfaction and if children think like that of course they won't be able to be like their parents, of course there will come a time when they don't have more money and they can't make money for the needs they need.

People who are just starting out will definitely have little time with their children and family, at this stage parents will spend more time outside developing their business and come home late at night when the house is quiet. I have seen a number of parents like this in my environment and children are more dominantly taught by circumstances, so that when the mother neglects to educate the child has a good chance of going down the wrong path. Previous parents may have had little wealth influence on their children but they spent more time with their families.

Parental control will be much greater than the environment because when parents can look after their children, no matter how bad their environment is, it will not be affected. Remember one piece of advice, that most fish in fresh water cannot live in salt water and vice versa, we apply this parable to children.

We REALLY need to have a spam filter, this is getting ludacris, I am seriously considering blocking every single newbie at this stage. Is this a joke, just make newbies not open a new topic please, I beg of you, otherwise this forum will die a very quick and yet still very painful death for all of us.

We care about this forum, and we do not want someone who goes "if you want to be rich sell to rich kids LET'S TALK ABOUT HOMELESSNESS!", dude is crazy, he keeps starting up topics like eh wants to ruin this forum, he has been around for a while too, I am not going to make allegations here, but I am sure that he has multiple accounts and has been doing this for a while, look at his writing style, sentence by sentence clicking enter, that's a method multiple accounts who are newbies that start topics uses. This is disgusting.

One main reason I think that this is happening is because the power of subliminal advertising that is prevalent in the internet nowadays. Corporations get to lure you in buying their products without you ever knowing it, perhaps through the testimonial of other people or through the content that you are consuming. Something will click inside you to buy the said product because you think it will be a good buy just because other people are enjoying it.

Another reason is our concept of 'sales' in malls and stores. We think that we are getting a huge value when we buy during a sale, when in reality those are just the actual prices of the item without the markup of the store to recoup their losses. We may be getting the item at a cheaper price, but do we really need what we bought?

The mind conditioning that the media and huge corporations have imposed towards the populace is really effective in pushing us to mindlessly consume everything they produce.

USA and Canada have got lot of homeless people and this is due to drugs and the government have made several plans and programs to recover those people and provide life. In a documentary I saw a person who is using his tricycle to have his things packed and he's homeless for more than 45 years. To those people how can we say it is all because of the drugs. The reality is being homeless drives them to drugs. It is true, when they have no shelter it is really painful to cross everyday and to keep themselves in sedation they go for different kinds of drugs. It is not the right way to make ourselves rich selling to the rich kids.

Well, this is actually true on which on the era or years that we do have today on which tons of things that are new and been on sale on which in every trend then there would really be a specific price and since we do know that we do have the money then we would really be buying immediately and this is really something a very common and you would really be tempted on buying if you do have the capability.
For those people or kids who have a family which do struggle on daily needs or something that doesnt have the capacity on purchasing then they are really that in exemption but for those kids
who have a family that could be able to afford almost everything the for sure they would really be spending like a mad man.

Those kids doesnt care on what would be their tomorrow since they are really that confident that their parents would really be able to afford on buying the things that they do like.
We know that spending too much is never been good because sooner or later they would become that bankrupt but we know that there rich people or family who doesnt really
easily get go the floor despite of that mad spending just because they could really be able to sustain.

Getting rich from poor is difficult because it requires years of hard work and dedication, only a few people manage to get rich by luck and that number is extremely tiny, however, getting poor from rich is pretty easy, all it takes is mismanagement of the wealth and resources. So, it's true that even if the father is rich, the kids don't necessarily have to stay rich forever if the father is gone because they might not be able to maintain the wealth and grow it but instead, just waste it and then have nothing at the end.

I'm not sure about the USA and Canada or the homeless population of these countries and how they have become homeless, but I know that people, all around the world, witness such things where some rich people become poor in no time only because they aren't able to maintain the wealth and eventually lose it all.

I think this is a global problem, spending (lifestyle, debt, branded goods, luxury goods) that is not commensurate with income is a quick way to become poor. I also encountered several cases like what you said above, many children were born rich, but after their parents died they became homeless. Chaotic financial management is the reason why they fall into poverty. If the philosophy I forget the name of says, difficult times will produce a strong generation, a strong generation will produce a comfortable place, a comfortable place will produce a crybaby generation.

Rich people are continuously completing wishes of their children so their children does not learn how to earn money and how to spend. They spend money in all useless activities because their parents have not teach them about spending method and saving money. I saw many poor children whose habit are more better than those of rich child because poor child from start learn everything about life whereas rich children are just learning to spend money on useless activities as they think that their parents possess large sum money which cannot end ever. A day come when rich children turn into poor and poor children turn into rich because both have different concept therefore always remember that lack of money can teach you lots of things but richness cannot guide you anything.

From your topic I don't think one can become rich only by selling to rich kids as the ratio of rich kids and working class or middle class kid is pretty imbalanced but the following are the takeaway I have got:

1. Rich people should ensure that they plan the finance not only for them but for their children as well and it should be in such a way that they shouldn't get all the money at one go but once in a month or so.
2. Point 1 will help ensuring rich kids when they go broke don't just exhaust the funds saved by their parents as they will get it in installments not lump sum.
 3. Rich should train and breed their children to be self dependent to avoid ending up miserably as homeless or drug addict.

Well put. The rich didn't get rich by slacking off on fun and drinking hub. They did so by working hard or working smart.and so their income rose to afford them certain luxury items and lifestyle.
The education of kids is one that must involves financial teachings and best monetary practices that will enable them take hold of their future. The parents do alot in making kids rich by planning ahead of their arrival into this world and that's the best way to secure a bright future for the kids.

Also children learn best from watching what their parents do in different scenarios. So a rich kid will learn how to remain so if they had the opportunity to watch the parents closely and studied their spending habits and preference.

A high lifestyle will only complicate our lives and make us miserable. Human nature is to always want to look better than others, which is why most children of rich people choose to spend their parents' money on luxury goods and other useless items. Without realizing that he is impoverishing himself.

So this is where we must be wiser in sorting and choosing associations. Because the name of a high lifestyle (prestige) whether we realize it or not, environmental factors greatly influence and encourage a person to have a high lifestyle. Where when they are together, they often show off and compare the luxury goods they have. And when there is someone who participates in hanging out but he does not bring luxury onions, the person is often ridiculed and considered incapable, which in the end when the young person returns home, he complains about it to his parents and asks for more money so he can buy luxury goods like those owned by his friends.

I understand what OP is trying to say, a rich kid will spend a lot but his kid will go broke then the cycle needs to repeat but there is always an exception and there are many rich heritage who pass their knowledge along with their inheritance but not every rich parent does.

Parenting is indeed a complex and challenging endeavor, filled with both rewarding moments and difficult decisions. While providing material comfort for our children is a natural impulse, it's crucial to strike a balance between indulgence and instilling essential life skills.

The notion that overindulgence breeds spoiled and dependent children holds significant truth. Lavishing children with luxury items without fostering a sense of financial responsibility can hinder their ability to make sound financial decisions in the future. We as parents should instill strong moral values ​​in our children, teach financial responsibility and foster a growth mindset, families can empower their children to navigate the financial world confidently and make the right decisions for their future happiness.

It all depends on the lifestyle when those who are born from the golden spoon who never want to understand how to live life then indeed such things will definitely happen because they are very comfortable on the throne and do whatever with what their parents have but in the end this makes the child's habits bad but don't forget that there are others who still think about the fate of their children even though they are rich.

This is why the role of parents is important. Providing the best for our children is our obligation as parents but that does not mean we free our children's lives because of course there must be control so that what our children do does not become misguided which makes them have no limits in the lives they live.

I have heard a rich person saying that if we want our kids to have a better future, we have to educate them on how to grow money, not how to save money. It simply means that we teach them to do good business, not how to spend money like there is no tomorrow. Because at the moment they will know how to make money, earning and saving a lot of it is not hard and impossible. But if they only know how to spend and live a luxurious life, these kids will become poor when they are alone.

How do you know that Joe Biden’s kids, or let’s say the rich me kids can’t handle anything if their parent were gone? Have you accessed his Joe Biden’s children and found them as empty as you think and say? What if I told you that these rich people’s kids may have even more knowledge than you think (yes, because many of them consume a lot of books, videos, etc). Also, I don’t think luxurious living is directly a cause of poverty. Because think of it; if you have a job that gives you the money you spend then you won’t have any issues buying more.

And it seems that cases like this have been a lot in society because of the lifestyle that can now be called luxurious, for example a young man who has a lot of money, it is likely that they will not think about his necessary needs but they are likely to buy what they want such as gadgets that are currently on the rise, also they will buy what they want even though the price is quite high. Even so, sometimes they do not think about what they are doing, the most important thing is that they have luxury goods that are a requirement for the development of today's lifestyle. Also they are only concerned with lifestyle by spending the money they have carelessly. It doesn't matter if they can manage their finances well.

Most of them also only think about their lifestyle that is currently trending not by investing to generate profits in the future. In fact, they should invest if they have a lot of money, because later they will also feel the results if they really do it well. So they should be able to choose what is good for them, there are also some people who are concerned about the future by investing or saving, not prioritizing a trendy lifestyle.

The rich have a way of passing their wealth to their kids through financial education if not without proper education in finance kids would always look for means to spend that money on luxury and there is a decision you have to make when it comes to financing it either n/you choose to discipline your self from luxury and choose to be a better person in finance, there is a big difference between growing money and keeping money dormant money is supposed to be used, not kept and that is why I don't believe in saving rather I prefer you invest the money than you keeping it. and there are secrets that their parents always tell them to use and it is always working for them and that is how it continues.

The problem with parents these days is that they don't want their kids to struggle with money like teaching them how to grow money when they can give them instantly the money they ask for. They don't want their kids to live like they are poor when they can feed them everything they want, that's probably the reason why kids nowadays grow as spoiled brats because they always get what they want without even working for it.

Parents will only realize their mistakes when their kids end up living miserably. They become addicts and some turn into criminals just to sustain their habits and vices that they used to live with.

How do we define rich? Is it with savings? Definitely not! It is on one's net worth monthly and annually thus, it makes sense that wealth would be easily passed to the next generation through perhaps existing businesses and properties. A luxurious life can be achieved by many people but only a few could sustain it for a long time. Indeed teaching our kids the importance of wealth is an important thing. It'll help them prolong this thing called "wealth".
Kids really don't need to walk our past 'coz it is the reason why we strived for a better future in the first place. Not all rich kids end up broke, and for sure what sustained the lives of those who did not end up in such struggling times, are those who knew how to value money which can be taught in many ways such as rewarding system whenever they achieve something. It shouldn't always be the hard way to teach them.

I think you completely contradicted yourself in this post. You were talking about a rich man's advice to grow money and not to save it and at the same thing you included spending lavishly which is different from growing or saving money.
If you do not know how to grow money, just save it which is far better than spending it carelessly.
People also become rich by saving and not only by investment. The problem of rich men kids is not saving or investing, it is because they cannot handle money because their parents didn't teach them how to make the money. The few who learnt from their parents, sustain their parents financial legacy even after they are gone.

honestly some people are so rich that they couldn't always spent their monthly income and exhausts it, if that is the case, its better to keep earning more and more and not saving is fine.
saving is only necessary when you think you have quite high income but not high enough that you want to achieve financial independence and you trying to thrive hard for it.
but if your income is so many that even a month of income already set you for financial independence, yes such income exists, i think saving is kinda futile attempt so long you are not buying lambo or jets monthly.
its definitely depends on the income, what a person target is in saving, whether they could reach it, therefore saving isn't fixated way of getting rich and sometime but its still a good practice if some people are used to saving after all, nothing wrong in saving some money, as long as it didnt disturb our health because too much saving we malnourish ourselves.

It is important for rich people to give their children financial education, because wealth can transfer from a family into the hands of strangers. A person can build an empire, if the kids are more concerned about spending the wealth, than trying to learn how to build and grow it, then there's a high probability that when the bread winner resigns or dies, the children can not handle the wealth. If they keep living luxurious lifestyles, eventually the wealth will start to diminish and they'll became poor, probably end up being homeless. So rich kids that buys luxurious items at very high price, without financial education is the roadmap to their poverty.

Not all of them, it's all caused by several factors that make children like that, there are also children of rich people who are conscious and self-aware, even though they live in a perfect economy, but there are also those who are not aware of themselves, this is because their parents are financially well off.

But whatever happens, it all comes back to their parents' upbringing. Indeed, many people in this world are cruel, thinking that rich people's children can be empowered as they wish, maybe it's not wrong for them, but everything can be prevented, if parents can educate their children how to use and spend money well and responsibly.

If you want to become successful, you should never focus on only one thing. If you want to become rich and for that, you wish to sell only to the rich kids, you will never become rich. Every single person in our society somehow contributes to the economy and not all of them are rich. The ratio between Rich and Poor is massive. Rich is on the lower number. So how can you leave that huge number and think of becoming successful?

It is true that if you use money recklessly without a plan to increase the asset or the value of the asset, you will eventually run out of money one day. But that does not mean that you can become rich using that to your advantage. Do it on your own without relying on those kids.

Being rich could neither be that hereditary or something that they do able to acquire or achieve through hard work or something in between those. Its true that if money isnt properly been spent or something that do talks about on reckless spending without even trying out to mind on how they should really be cherishing out those amounts and would be make use on other means instead on which it is more worth
and really that more better options than on the other one. Changing up your lifestyle and going into that peak kind of spending because you do know that you do have tons of money
will really be messing up your entire life on the end of the rope.

People do usually make out those kind of realizations but its already too late. Those things cant really be that something that would really happen if you are really just that
mindful about your actions and always have those kind of considerations on making yourself that sustainable at least on longer nes.

Rich kids aren't looking for your advice or going to listen to it, because they live in a bubble sort of world. Nor are they destined to a life of destitution if they have sensible parents guiding them wisely. Often large amount of money will buy them an education that will stand out on a resume and get them through important doors that they otherwise would not have access to. For these sort of people growing up and past university, it's not even what you know, it's often who you know or connected with when growing up that can get you into a cushy high level seat. If their parents let them go wild a little bit it's not going to ruin them, but they definitely need to have limits and it's better if they are not overly spoiled, so they learn the value of money early on.

Of course kids who are doing this end up being poor and struggling in their finances in the future. No matter how rich they are, as long as they don't value their money and just waste their money on partying and buying unnecessary expenses, the consequences will be they will surely be struggling in their lives trying to live their lives like how they used to live it.

Parents are mostly to be blame seeing how these kids have grown up but have never learned something. This is the reason why we should teach our children earlier how to live life the hard way and overcome them, instead of giving everything all their luxury needs and end up seeing them living falling apart on their lives.

Parents who are wise in educating their children will first prioritize moral education for their children. Because with a good moral foundation, a child will really love their parents. and then they will understand their position of having to be filial to their parents and be good heirs to continue the family business and not spend their parents' wealth just for their enjoyment.

Pampering children does not always bear sweet fruit in the end. Everything must have its own portion. Or in other words, everything must be done in moderation. And it must be done in a balanced manner. It can't be too harsh and it can't be too indulgent. Most children of rich people fail to maintain their parents' wealth because they do not become good heirs because they were initially too pampered and given too much freedom. So their relationships become unhealthy and difficult to control. Moral and financial education are interrelated and are all very important.

we can't blame some parents traversing the path of giving luxury to their kids because they have no time anymore. however, whatever the outcome will be, they should be prepared for the turn of events and not blame anyone for the consequences.
but if you truly care about your kids, then you will observe what parenting style will be good for your kids. sometimes it is not the money that will give them direction in life. hardship in anything will give them a different perspective in life.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

Suppose excess in love, support, or resources is contextual. What is excessive in one family may be normal in another. Could the quality of what's provided matter more than quantity? Emotional intelligence and resilience are often overlooked. If parents teach their kids to handle life's challenges, regardless of luxury, won't it develop independence? People say kids mirror their parents. It's great, but aren't peers, media, and education also influencing children? They don't passively absorb parental influence. Their experiences develop them distinctively as they grow. While parental influence is important, is it all a child becomes? Perhaps parents should guide and assist rather than mold their children. Isn't that freeing for parents and kids?

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.

Isn't luxury life make their children's future become better? they get everything what they want and buy anything they want, so the parents make sure their children aren't lack of anything. Parenting is really hard, neither luxury life or poor life has it's own privilege, I think it's harder to teach children if the parent is rich than the poor, since the children has no motivation to survive with their own income.

The problem, is that rich kids rely on their parents for money!

The ones that don't, are the ones that stay rich even if something happens to the parents.

I'm not saying parent's shouldn't give their children money, but they need to give them financial education and make them go earn a living by themselves.

Otherwise this kind of mindset sticks around forever.

Think about it, if you just get everything on a silver spoon, what incentive do you have to work or start a business?

Firm, that's what parents should do with their children. I see many children who are initially restrained by their parents end up with something unwanted, but I also see those who are too liberated by their parents end up with something unwanted too. When children are grown up, then let them find their own identity, of course with boundaries. And also the limits must be those who realize it, parents only need to remind them, because if they are adults they must also know what is good and what is bad for them.

A luxurious life cannot guarantee that a child can live a better life, but it is natural for parents to want to see their children live in affluent conditions. Parenting style will determine how a child can be responsible for himself and the role of parents is needed to guide their children to be more focused. Rich and poor is just a matter of luck for a child who is born without being able to choose, but in my opinion the difficulty of educating is not only difficult when they become rich and vice versa for poor children.

Parental assertiveness is one way to educate children to be more obedient and it is an obligation for parents to teach their children to be responsible for themselves and the environment. After they can be responsible for themselves are they taught how to earn money and poor parents will have difficulty guiding their children to achieve the desired level of wealth because they do not have sufficient resources.

A person who has grown up watching his parents use wealth and growing up in luxury from childhood will never understand how difficult it is to earn money.  They therefore do not understand the value of money and lead a life of luxury until their ancestral property is exhausted.  It is natural that a person will develop that way from childhood.  His behavior will remain like that for the rest of his life.  So no matter how much wealth parents have, they should not let their children waste money from childhood.  Then it is possible to make their future beautiful.

Most rich parents, do not teach their kids financial literacy. There is ways money and the kids will not learn this.

Especially kids of multimillionaires and billionaires they cannot curtail their expenses. Sometimes, it is not a waste of money it is just how they have been brought up and since the money is always there, and will always be there, they spend it anyway and anyhow they like.

You know some of these rich kids can never ever be poor in their lives no matter how hard they try because there is generational wealth already there for them. For example, the Rockerfeller kids, and grandkids , great grandkids can never be poor. And example is the Sultan of Brunei. I can't ever imagine his kids been poor.

I think this OP applies only to kids whose parent's just became rich and are struggling to stay rich.

It is practically possible for a rich brought up kid to understand life outside what his parent created for him but this depends on how the parent chose to give him life, don't you see that even the poor people does fail in bringing child to live a good life because they don't want to believe the life their parent grow them with, in any little opportunity they get, they fake it just to impress people that they have what it takes to be in luxury life. Some rich kids actually know life outside the luxury life they are being exposed from childbirth and that helps them grow and mingle with the society easily because they understand the life they have when others don't have it.

There are some poor kids that don't have a good upbringing in the sense that they don't want to believe that lowkey financial life is theirs, they want to live a upper class level of fake life just to show the world that they are rich kids, they struggle to work to get money and when they do, they spend it on luxurious brands like Gucci bags, Alexander Mquin, Luiton V and many more and also super cars like Benz and the rest when they are supposed to used it to invest into something great for future sake.

a child will not be far from his parents (his attitude, behavior, manner of speaking) they must have their own choices when they grow up, and also they will determine what they think is good, even though parental guidance has been done but there is still a free environment that will give life to them and it could be that life outside will also determine their attitude, even though they have been supervised by their parents but the supervision carried out by their parents is unlikely to be a full day, especially when they are adults. someone who is an adult will make his own choices, will not depend on parents continuously also in my opinion it is natural that someone who is an adult must be independent, which is not natural if they cannot be independent in their life, but life has a choice, so if there is someone who is an adult but still depends on his parents it doesn't matter, it's just that there must be people who talk about it from behind regarding those who are adults still depending on their parents. although the fruit does not fall far from the tree this is a sure saying, but it will not completely happen like you said. of course there will definitely be differences only there will also be similarities between one another.

But there may be children who have grown up but never thought about it, because they feel that they have parents who have a lot of money or are rich, so they don't think about being independent. Different people's points of view can cause problems if the person in question cannot accept the conversation from others, while the facts are so. so there is nothing wrong with being independent, because all people who have a good mindset must think in this direction, there is no way they don't think about this, also I think independence must be done because after all parents will not always be there for us, someday we have to face things by ourselves. Therefore, someone must be able to learn to be independent so that they don't always rely on their parents. If they do good, of course, parents will also support what they do, parents who educate their children are not the same, but different, because of course parents have hopes for their children who want them to succeed with their lives. and in my opinion if they want their children to succeed, don't spoil them too much, because life outside the family is wide so they have to get to know many things outside the home. That way they can learn things outside the home, and they will also determine which things to choose for their own good or their family. someone who depends on his parents in my opinion will not be successful in his life.

In the end, it all comes back to parents teaching their children not to spoil their children, and teaching them how important it is to work hard and value time. Because without a good upbringing, no matter how rich their parents are, after their parents die, their wealth will definitely be spent by their children. Never mind developing wealth, they can't even maintain existing wealth. So it is not surprising that there are so many cases like this, parents are rich but after they are not there the children become poor.

All this time, if you feel that you are living just to make money but you don't care about your children, you don't even realize that you are even blinded with pride because you feel that you can have many things, and as you approach old age, everything starts to decrease one by one because in the end your capacity for productivity as a human being begins to decrease. Eat from it and educate your children for a better future. because future knowledge is not just about learning but must also be applied in everyday life so that the future of all your children is bright.

That's not the whole truth, there are exceptions to that rule, some children might grow up that way but despise how their parents spend money but there's a teeny tiny factor that will make or break them into a person that is an exception, be it a friend that they've got that teaches them the value of working hard or that kid just got a higher degree of empathy or their parents taught them that what they're doing isn't the best thing to do when it comes to spending and appreciation of hardwork because they're just depraving the child of stuff which grows to resentment. It should start with the parents having the responsibility to teach their kids because they're the ones that the kid bonds with unless they're an absent parent and the kid only grew up with nannies and butlers, we can expect that kid to grow up as an adult that doesn't value hardwork and will inevitably be living the opulent lifestyle.

Indeed, it depends on how the child is educated. remembering that many children grow up from rich families, but their lives are harder than those from ordinary families. While children from ordinary families can get up late, children from rich families must be able to get up early and help their parents start work. and that's what I see from the rich people around me. With upbringing like that, he said, parents hope that when they grow up they won't be surprised to face the hardships of life and must be able to survive

Well obviously, rich people make a much better clientele. They’ve got the money to pay and some are wealthy enough or carefree not to care much even if the price has been inflated threefold.
 
Admittedly, a large number of homeless people in the street are from rich families that had made poor financial and life decisions. Likely got addicted to drugs and would slowly drift far away from their home and their parents. These are people that have always gotten it easy in life and has had all their wants and needs provided. Having not had to be responsible for anything while growing up, it would not be so easy to face the reality ofthe common man when the funds and flamboyant lifestyle ends.

While a bunch of rich kids out there are not morally nor financially responsible, there are still some who have been brought up straight with the right morals instilled in them.

It is quite pathetic seeing once glorious and amazing kids on the streets with nothing at all to their names. Who exactly is to be blamed for this, their parents or the kids themselves? I think parents have a lot of role to play as it concerns their children and their general wellbeing. Granting them access to a luxurious lifestyle is not just enough, what happens in the longrun?

These kids who have been privileged to be born in the midst of wealth should also be taught how to make money too from their early years. They should also be taught  the saving culture. If they want the luxury lifestyle, they should know the right things to do in order to sustain the lifestyle.

These kids get stranded and homeless along the line because they were taught nothing at all aside reckless spending and when they get hit by a tragedy,  they become confused on what to do until they go broke totally. Good parenting is a big project and will definitely reflect on the kids if done well.

 I've come across some well-off folks who ended up on the streets too. Money doesn't always stick, you know? And you're right about the next generation struggling once the old guard moves on. It's a harsh reality for sure.

I often hear the expression "rich people are free". However, this freedom is often misused, as you gave in the example, perhaps this is caused by a lack of love from parents which results in mental dependency, especially given facilities that allow them to fall in the wrong direction.

Those children often faces difficulties in future because they did not have learn about financial freedom and also they don't know about making financial system better. It is a good way to treat children in better way and fulfil their all requirements but it is also important to note that if parents give their children all opportunities then they will be addicted to it so whenever they need to earn money then they will not be able to it.

There are also some parents who teach their children about finance as well as fulfil their requirements therefore they keep check on both possibilities. focus of parents is necessary in bringing up their children but sometimes when their children get all the things then they have a feature of dishonour which does not sound well.

I feel like if you are wealthy enough, then there is no excuse that you allow your children to grow up with proper supervision. That doesn't mean you have to be there at all times, I understand a wealthy person could be very busy with life, and even though it is advised to spend as much time as you can with your kids when they are growing up, a business person may find those times very rarely and that's understandable.

But that is also not an excuse for finding someone decent to raise them, it could be nanny, it could be grandmother, I do not care who it is, there must be someone who you can afford that could raise that kid. Hire an etiquette teacher if you have to, hire life coach, hire anyone you can afford to raise them well enough.

Is it everyone that has a rich kid friend that they will sell something to? Many businessmen or women don't have and they tend to do well in their area of business. OP, what I want you to understand is that not everyone who makes it in life sells things to their rich kids to consume. It's always that they have the poor and rich kids who consume what is being sold to them. That indirectly means that the kind of business one has, and its demand from the rich and poor people is what makes people rich, not another way around that the rich are to make someone rich if they sell things to them. By the way how many rich people do we have in a given society? Do we expect the rich kids to be rich all the time to sustain us in our businesses?

that is one fucked up perspective on poverty and homelessness. Do you think that poor people who were born into poverty even had the slightest clue of what spending lavishly is like? Let alone spending so much of your money that you end up becoming poor? Do you think people just end up being poor out of spending too much? If that's how you think poverty works then I've got bad news for you buddy, you're going to end up poor yourself pretty soon.

Poverty and homelessness has a lot of strings in place that just "spending all your money" wouldn't matter. I mean it's still a good factor but more often than not, this is not even the biggest reason. Go read a damn sociology and economics books for god's sake.

All of this occurs because they were born into prosperity and have never faced financial hardships, so they believe the world owes them and regard others as fouls.

They just look up to them and forget what they should be thinking about; they always think they wake up and find themselves without even knowing how they started; the most of them don't even want to go through history to learn how they hustled and made it to that level. The worst part is that kids will accept them as their role model and begin acting like them, as if they will comprehend that most of these superstars were born into impoverished families and that it is only their devotion and hard work that has gotten them to where they are today.

They are unaware of this, only that their parents have made significant sacrifices in order to make their lives better than what they have lived, but the children see it as a favor, yes, a favor because their mates are on the street suffering and they are enjoying the labor of their parents, only their mates on the street will understand that life is all about sacrifice, hard work, and smartness.

I've always stated that if you can't make a single or very small amount with your own labor, even if you've been given tens of billions of dollars in inheritance, believe me, you'll blow it all since you didn't make it or even contribute to it.

The money will only continue to grow if you help your parents in some way when they are building it, not necessarily 100% but 1% is enough, maybe you are still in school at the time they are building it and you always make them proud with your good behavior, this also matters because it will allow them to concentrate on building their wealth.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

"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.

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.

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.

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.

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.

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.

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.

Management and being humble is what they should be taught. Well, I don't want to speak about it because I know it's hard to teach kids and hopefully I'll be able to apply that to my kid.

That's because I've seen great, humble and hard working parents but then, their kids are not. It's easy to tip on what must be done but when someone goes into the actuality, everything changes.

Everyone who has children definitely has a way to teach their children to be better from an early age so that their children can be smarter, more independent, and also have a polite attitude in facing every problem in their life later. So you and other people may apply different ways to it as long as the thing that is applied is most suitable and better for their child.

It is true that nothing is easy in life, especially when it comes to educating our own children, because they don't necessarily want to work as hard as we have done throughout our lives. But that doesn't mean every parent can't direct them to be better because no matter what their attitude is, they will definitely listen to what we say at a very early age.

I personally feel that until now, when the child's attitude depends on the attitude of the parents, although not all of them are like that, but in the end, parents are always a reflection of the child's behavior.
I realize this because I already have children and some of my bad traits are not much different from the attitudes that my children show including in economic matters.
It is necessary to realize that children will always imitate the behavior of their parents so that when we as parents who do have some bad traits including perhaps in this case wasteful then it is certain that children will also see the way what parents do.

I was quite wasteful and sometimes overzealous when making several online and offline purchases before and it has been imitated by my child's attitude so that indeed in this case I began to realize the mistakes I made because in the end the behavior we show to children will actually be imitated.

The ants are wiser than many of our youths because they understand the principle of life without them being told what to do, some people were already privileged to make money and gather wealth, yet they will scatter the whole thing by their hands for nothing sake, this is how they do so by living exhorbitant life today and begging tomorrow for a survival when they got broke because they have wasted their time and resources from the past.

So do you think spoiling children is wrong, even if it's with the intention of making them happy, is it wrong?
I also say it's natural for parents to pamper their children as long as it's not excessive, I mean pampering children naturally not to the point where when they grow up and they are still spoiled, and this is what is unnatural in my opinion, because they are adults of course they have to learn to be independent, but if they are adults but still dependent or still spoiled by parents it is unnatural in my opinion, but when someone grows up there is nothing wrong with them wanting to be pampered back like they used to be a child. Because when they grow up they will face many things where there must be pleasure and disappointment, and when they are disappointed of course they need a home to go home to, namely their parents.

If they have grown up then they will also think about everything they have to do, where they will choose which things are good for them and which are not for them. therefore they will also be embarrassed if their parents always spoil them when they grow up, right? will they not have adult thoughts when they grow up?
Will they continue to be spoiled by their parents when they are in college? Maybe yes, because they love their parents so they don't mind this if only occasionally.

this isn't just about buying a few extra things online. Setting a plan for being responsible with money is what it's all about. The business of today is complicated and doesn't forgive mistakes. We need to be the good examples of money management that our kids need as parents. Teaching them the value of money, how important it is to save, and the idea of delayed satisfaction is just as important as spending less

We aren't just raising kids; we're also creating the adults of the future, who will have to deal with crypto, stocks, and the economy being unstable. They need to not only learn good habits, but also have an attitude that values knowing about money. We need to make a change, and not just for our own good. Not only should you shop less, but you should also have real talks about money, savings, investments, and the world's real economy

A purpose of a parent is not only to give a good life to their kid but raise a good kid as well. Most of the time a person who gets rich after their kid is born will not have a spoiled kid, because the kid has seen their parents not be that rich neither, and seen the rich version too, and knows the difference and will be smart about it and try to avoid going back to being not rich.

However, if you are born to a family of wealth, then it's harder, and parents have a job to make sure the kid doesn't go crazy, many kids of rich parents end up being raised from a baby age to adulthood with everything they ever request, and never learn the meaning of "working to get something" and that causes those people to fail in later life.

Yes, many parents try to accumulate their wealth in order to be able to pass it on to their children, sometimes they work hard for the future of their children in order to be better when they grow up, where parents start sending their children from good education to higher education, the role of parents will try for their children to be successful.

Not a few children like that, maybe there are some parts where they only enjoy the wealth of their parents because their lives are spoiled and never educated harder, of course it depends on how we as parents to children give them knowledge about the right responsibilities, managing money must be right, if there is a business to be continued then learn as early as possible so that when they grow up they are ready to take over the parents' business.

If they cannot utilize it properly then all of it will be drained from the assets owned by their parents.

Parenting and doing on the things in front of our kids would really be giving out such impact to them on which it is really just that right that we should really be mindful on what are the thing we are doing in front of them on which it would really be just that right that we should really be that responsible and we should really be that mindful about on the things that we are dealing with. We would really be needing for us to guide them down despite on having tons of money or having that kind of having no problem thing about finances on which it would really be always still ideal that you would be raising up your kids on the way
that it should really be that something good or would really be beneficial for them.

It would be always best that we would be teaching them about being responsible and mindful about on spending their money because we do know that there are lots of people who had
messed out their lives when it comes to finances because of mishandling or misused of it on which it would really be just that normal that we should really be at least
teaching them even with those basic principle that us parents do really knows about it.

Yes that's right. Even though inheritance remains something that is valuable to be taken into account, as a parent you must also pass on your children the highest level of knowledge and do not leave your children with only your wealth. Because the inherited wealth he has cannot be utilized as well as possible, instead it will be spent wastefully so that when he falls into poverty he cannot rise again because since childhood he has been accustomed to living in luxury.

Children need wealth but parents must educate their children so that they are not enslaved by wealth, use wealth as needed but don't use wealth because you want that or want this.

That is so true and it's shaming when your child don't act the way you want them to be because they're reflecting your attitude towards them.

And that's the reason why there are parents that does everything to make their children proud of them and to behave. But sometimes, they are doing it too much to the point that kids have been spoiled a lot.

When they're spoiled, they act mindlessly. Yes, they're still kids but they need to be taught and learn a lot.

Not here to compare the brains of ants to those of humans, but their brains are tiny and focused on what to do. Humans have large brains and huge responsibilities allocated to us. Hence, it's not simple to get past the challenges behind the lifestyle we find ourselves in. A rich kid with his exposure to wealth at a young age, is also allocated responsibilities to tackle, growing up. Most kids face the challenges of having to deal with the wants of their parents. Parenting rich kids requires too many principles and few parents always treat them the hard way. They're expected to go the route their parents want them to go. School, traveling abroad, and expensive lifestyles are under the supervision of their parents. Many kids on this radar don't have a say and their opinions contrary to that of the parents are frowned upon and they get punished. Some may not be given pocket money or gifts. Lack of parental care affects them emotionally, their parents don't have enough time with the kids, and they only focus on generating money.

Attending business meetings. Hence, these kids as adults have to deal with all the challenges revolving around their personal lives. Depression affects some of these kids, despite getting everything on a platter of gold. Haven't you noticed that in a family some kids are not given enough love like the parents give the sibling who follows every single instruction issued to them by the parents; good or bad? Troubles emerge when one tries to follow his own decision. While the parents stay alive, they'll get a limited luxury lifestyle like others in the same family. If the child continues with his own goals, he nearly escapes all the troubles his siblings would undergo after the departure of their parents. Hence, those who didn't care about living a remarkable life would go broke as their parent's wealth would stagger due to their lack of monetary control. The children of the rich man, when he's gone, would sell his properties to keep up with a lavish lifestyle. Putting himself in a more difficult life.

It is rare to see rich kids getting broke these days after the death of their rich parents. The rich parents have come to understand this concept. They know that since the wealth is not gotten by the children they won't know the value of it. So what they do now is that they employ their children in the same organization and one way or the other the children are contributing to the business and getting paid. Instead of giving them money you indirectly do that by making them work for you and gradually they will understand the nature of the business.

Another way to do this is to make your child your assistant so that every happenings is in the business he would be aware of. Once he/she consistently follows you everywhere he will understand the importance of money and how to manage it.

That is, if the parents realized this kind of upbringing. Because later on, it is their kids who will suffer.
If they don't know how to earn money, they will also spend it extravagantly without considering how it is being raised.
Anyway, if a person will experience hardships in life, they are more cautious on how they spend money.
So in time, they will learn their lessons the hard way if they won't mind spending their money to just basically anything.

Morality is different between rich children and simple children, rich children are more free because the conditions are already comfortable to enjoy life, they don't care about running out of money, not even useful or bad effects in the future, yes I agree, that they only rely on pleasure and convenience for the wild flow of money, either the money they get or the money they get out, unfortunately many are taken advantage of by people like that, especially something that has no clear benefits including drugs and abusing them.

It is important to educate financial management and restrictions from an early age, because even with a life of buying something useful, it can spend money, especially if it is uncontrollable.

The rich buy out of curiosity and the poor think that money is so fast to get even by tricking or selling goods to get a very large amount of money when compared to selling any goods to ordinary people. there are those who take advantage when there is a gap like what you said, maybe if you can estimate whether this will continue to increase or decrease in the next year in the country? :-[

I bet to disagree that all the blame should be pointed out to the parents alone. The environment is also a big factor that affects the growth and welfare of our kids. That is why kids should also be selective when it comes to their peers because not all of them will bring out the best in them, but will lead them to some negative habits that if left unnoticed by parents, these kids will grow believing that what they are doing are right.

It's not bad to let our kids experience luxury in life but there should still be balance in everything as life alone should be well balanced as well. Otherwise, if they always find things easier for them without exerting lots of efforts, I'm afraid that they will not be exposed to the real battles in life and end up quitting or committing crimes just to find easy things way out.

I think there is a border between spoiling and giving comfort, I believe we could give comfort to children without spoiling them. As for example in real case, we can send our kids to the best school with good facility and good social life, but we shouldn't interfere with his activity in the school.
Giving the best comfort is parents responsibility, but spoiling kids is not, most spoiled kids end up having bad behavior.


This is true, especially when the kids start to get into teenagers phase, they will spend most of their time with their friends instead of their parent, the privilege of being a rich parent is they usually have the option to put their kids in good environment, while low-middle class parent don't have many options.

There are many rich people that had ended up becoming poor because they were not able to think properly and make investment when due. Cryptocurrency has it own risk so we need to be wise and make plans before we enter the market. Many rich children don't know how to spend money and such weakness can make them to become poor when they are not able to manage there parents properties.
This is why we need to keep working and creating new opportunities form ourselves even when there is excess funds.

So with this we should know that if we really want to have good offspring then we also have to behave better in front of our children in the end even though out there we are someone who is an asshole but still we should not show something bad in front of the child because again a child is a reflection of the attitude of his parents as well so it is important to show something positive if we really want our children to behave positively including in economic and lifestyle issue.
It is not wrong to give what our children need but that does not mean that we have to spoil our own children because we as parents must have a good teaching so that children are independent and mature to support their lives later.


As I said before, children's attitudes are dominated by their vision of the people around them and parents provide most of the attitudes that children imitate because children are always close to their parent.
Therefore if we really want our children to behave better then indeed the application of discipline is important and one of the best ways to apply it is how we behave. If in the end we show a negative attitude in behavior then do not expect our children to behave better because they will imitate what we do.As in business and in economic matter this is also important if in the end we want children to be able to appreciate money then indeed we as parents should be able to show how to treat money well if in the end we are wasteful then do not blame our children who can be more wasteful.

Money is the root of evil.  There are many people who cannot hold on to money. It is a very bad vice. Spending too much will destroy you.  Everyone should understand the meaning of money in time.  Nobody wants to spend all their money drinking alcohol and then living the life of a beggar.

It's true that parents should be able to provide comfort to their children, because of course they love their children because of that they provide comfort and pleasure including by spoiling them. wise parents will educate their children well and also by spoiling them. if they are educated harshly it can make them depressed and of course this can have consequences for them later when they grow up.

There are indeed some parents who educate their children harshly, but this harshness is in the sense that they set discipline firmly, the goal is for their own children to be independent and be able to take responsibility for everything well without having to avoid problems that occur. that's what parents who educate their children firmly want.

Spending to much without any plan of investing can lead one broke. People don't understand the meaning of money when they have opportunity to own it, the purpose of money when people have it is to be able to multiply it in investment and not to spend money as if it is a leaf falling from the treas. No wealthy person gained money by just spending it without any investment. You use money to build more money,  money gives birth to more money.

Eventhough I agree that strict and 'harsh' parents are not fully bad, because I myself have strict and harsh parent and I turns out fine. But more modern parent tend to be less harsh and more permissive toward their children nowadays. Back on my day no one would argue if a parent beat their children once in a while, but now everyone will gone mad when they see a parent land their hand on their children, even for just a quick slap. But to be fair those children who has more modern and permissive parent, actually still grow up to be a responsible adult, maybe because the easier access for information, some of them are even more economically educated than my generation who grew up with strict and harsh parent. They know investmeant early in their youth, and have a good money management.

well that's right, even if parents educate their children firmly or harshly, they are like that not without reason, there must be certain reasons such as wanting their children to become better individuals, take full responsibility for what they do or not throw stones while hiding their hands. that's right, many parents now are not strict in educating their children, they allow all things and spoil their children, such as giving cell phones at an age when they shouldn't have cell phones, unlike the old masters who educated their children firmly so that they become children who are devoted to their parents. There is nothing wrong with spoiling children because it is a parent's obligation too, it's just that parents must be able to spoil their children with limits so as not to make them always dependent on their parents, because I myself was embarrassed when I entered college but still depended on my parents.

This is also about self-awareness, because if children have a good mindset, they will definitely not burden their parents, especially if they are adults, they must be able to be independent because it is also for their own good now and in the future.

This world is spinning, what is below can become above, and what is above can become below. Likewise, a person's economic situation can definitely change. A big example is people who are very rich but become poor and this often happens. Because that's what the wheel of life is like. However, for people who were originally rich and whose fate changed to become poor, this does not mean that it just happened. But most likely, it was the result of his own actions. Such as not being able to manage money well, having fun with the lifestyle, and also not thinking long about the future. So because of his actions, his fate changed.

That’s literally your own interpretation to an age old quote lol. Why would you sell drugs to kids come on bro for crying out loud.

Selling to rich people if you want to be rich is a common practice.in which case you don’t sell them products nor services, so yes no drugs or whatever the fuck you just thought of with that post. What you sell to rich kids are experiences and your skills.


Some people make it out of poverty by offering something that other businesses or providers couldn’t. Once-in-a-lifetime experiences, skills that you canmt top nor replace, this is just some things that you can offer to the rich. Basically become anything that they wish their sorry and boring lives are, if you’re able to do that you won’t need to sell drugs to rich people. They’d become intoxicated from your presence.

Been seeing people who directly get funding and backing from the rich. Facilitate charitable institutions and laboratories in the rich people’s name. There’s just a lot of ways you can execute this. Make your brain work.

This is clear enough for all people to understand, because money can also be used as initial bait to attract more money from others. In other words, this money can be used as initial capital to get more money by investing it in businesses and also in projects that can benefit the owner in the future. And what you say is true that money that is just spent will always run out quickly and there will be no additional additions in the future, but if the money is used to spend on merchandise or business goods that will be used for buying and selling.

I don't think there's anything wrong with that, because it's also part of investment, even though it's quite real and the benefits can be quite clear. So spending money is also divided into several categories because those who spend it too quickly are taking it for consumption and not turning it back into business or investment as you said.

You are completely right. And this situation has been visible along generations during the whole story of the world. A rich family today isn't assured to remain rich if their heirs didn't develop a mindset of responsability, financial management, long term business vision and cost containment during crisis times (even the riches have to know when to reduce expenses).

Sometimes the householder is so concerned about running his businesses that he forgets or neglects the fact he should take some time to teach his children to maintain his legacy once he is gone. Then he has those children living alienated only spending and wasting money without thinking on what tomorrow will bring.

---

There are many native sharp minded americans as well, ready and willing to thrive in life. People who are working hard and looking for an opportunity, just like the foreigners who came to USA with that purpose in mind. Families rising and falling financially doesn't mean the country is going to be ran by foreigners.

Indeed, quite a few children of rich people are indirectly neglected by their parents. This means that parents and children rarely interact because parents are busy working. And the result is that the child does not receive maximum guidance from his parents, which in the end can actually destroy the assets inherited by his parents.

Maybe the child studied, and was sent to school by his parents. But the problem is that children do not get important lessons from their parents. Like asking his parents about his career journey and how he became as successful as he is now. That is very important, because children are always quickly motivated by their parents.

Yes mate,most parents have failed to inculcate the good morals and values their children needs for their upbringing.They forget that if money can give them the biggest and largest investment,and if they could consult any business professional to get or attain their expected financial status in life,money cannot give them good morals and ethical values.
 So many parents have failed in this,parents are responsible for teaching thier kids moral values and being role models to them but today,the reverse is the outcome.they've simply surrendered that responsibility upon the teachers meanwhile it shouldn't be so.Some parents are just lazy and not even busy.

Money is a finite resource, so responsible management is crucial to avoid depletion. While some might assume "rich kids" are less hardworking due to being pampered and believing their wealth is limitless, the reasons behind a family's financial decline are often more complex. While it's true many parents strive to leave a legacy and ensure their children's happiness, factors like poor financial management, risky investments, or unforeseen circumstances can lead to wealth loss.

Anyone that has money but doesn't know how to spend it wisely may end up being poor, the worst scenario to have seen is about those who by the virtue of being lucky finds theirselves into a life changing once chance opportunity and they make money from it, but instead of them spending wisely and investing, they waste up the resources and work out nothing to make additional efforts to the source, they are the kind of poor rich kids, we must mak use of every opportunity we have for securing the future.

It is these rich kids who still lack the ability to work hard who must be encouraged to understand that earning money is not easy so they must be willing to learn to be more frugal and better at managing it when they get money from any sector. Because any wealth will be lost more easily if it is not managed well, and it will be more difficult to get it back if children do not know how to look after it well. So what must be emphasized is that the children of rich people are still often spoiled by their parents, because they themselves usually don't want to learn to manage their money well if in their daily lives it is still easier for them to get money through their own parents.

Apart from the good points that you have mentioned that can pull a business down including unforeseen circumstances which may be no direct cause from the owners side, business owners should be able to be easy to diversify and move into another line of business where the mother business is not moving or facing both economic challenges and development challenges also. For example government policies may affect businesses but an owner who is intune with happenings can easily adjust and move on, because at the eve of government policy, some businesses die off.

Some good management move with the trend of business from analogue to digital. Such diversification is good to keep a business moving because having only analogue idea for a business isn't suitable for the modern generation with the technological advancements of the world.

It is very much important that a person should must learn how to spend money and how to save it so if someone knows better about it then they will not see any hardship in life.

There are lots of people who have large amount of money but they do not save any amount in this so they will one day finish this amount by saying that the amount was not enough but actually they do not know about planning and spending so they fail to save and take benefit of this opportunity.

At start everyone is not rich but people make a plan, save some amount and reduces their expenses so in such way they reduces their poverty and one day they become wealthy as other people of society are.

Those who have money but cannot manage it well of course the money they have will run out and they will not have anything after that, so it is very important for everyone who has money to be able to manage it well and if they cannot do it themselves it is very important for them to study it so that they can still have the money they have with proper management.

Some people are born into families who have a lot of money, of course they will never think about how to make money and they are used to having all their desires fulfilled without any effort, but this will not last long if they cannot spend money. they are wise and it would be a shame if they fell into poverty because of a lack of knowledge about financial management, while they still have a lot of money, it would be better for them to learn about this because if they can manage it well then they will still be able to experience luxury until they are old.

Anyone who mismanages their finances will have difficulty using the budget for priority needs and savings, even rich people can become poor if they mismanage their finances, because when their economic status worsens they don't have the savings to carry out plan B so that business losses can be recovered. The fact is that their wealth status will collapse when they pass on the business to their children because their children's lives are very pampered with luxurious services, as you said, they have no planning for their financial future and instead only focus on high levels of spending.

Anyone has the opportunity to become rich as long as they work hard to increase their income and they must manage their finances as well as possible to focus on savings and investment needs.

In essence, managing finances is very important for everyone, both rich and poor, because without good money management, whatever income you earn will not be enough to support you in the future. My parents also often advise me like this and now that I have experienced it, this knowledge is very useful and hopefully I can apply it to my children in the future. When we are still of productive age and earn income from our work, we should manage that income well so that when we are old we can enjoy a decent life as we wish. Don't let us regret when we are old because we didn't manage our finances well.

The best way to manage finances as you said. Don't be too wasteful buying luxury items that you don't really need and you should be able to separate emergency funds, savings and investments. Without a manager like this, don't expect to achieve financial freedom in old age.

There's a saying that if you are born poor and die poor, then it's your fault, but there are exceptions. Maybe those who are born poor really don't have the capability to be successful in life for some other reasons, such as education or a lack of skills. But if you are poor with the capability to succeed and didn't succeed at all, then it's your fault. But if you are rich and die poor, then there's a big problem with that. Imagine you are at the top, having all you want in life but having wasted it because of some wrongdoing and wrong decision. Then there's a big problem and regret. As for the OP's statement, it shows that the family is irresponsible with their money and ends up losing it all. Remember,  money is not infinite. Even if you are born rich because of your family and it's your turn to inherit the assets and you end up losing them, then it's your fault.

People who are poor and have their lives turned up all of a sudden and become rich by luck or even hard work, such people will always find it difficult to manage their finances in the best way so that their wealth keeps increasing instead of drying up. The biggest reason for that is that they have never had this much money and when they do now, they don't know how they should use it, they will buy things that aren't needed and they will spend most of it on buying luxuries instead of building assets and starting businesses.

Among such people, there might be some who have natural wisdom, which means that they might not be educated but they understand everything, especially when it comes to finances and financial management. Such are the people who might be able to make good use of the wealth that they have got.