Is The Top 1% Better Than The 99% At Raising A Family?

Thomas Jefferson's MonticelloI stumbled across a very crafty Twitter feed called “GS Elevator Gossip” @GSElevator the other day.  The idea behind the Twitter feed is to share with the public random elevator gossip from one of the most hallowed, and vilified investment banks in the world.  Given the average compensation for Goldman Sachs employees runs around $300,000-$500,000 a year, it’s safe to say that Goldman Sachs has its fair share of 1 percenters.

Some of the Tweets are quite witty.  And others are downright offensive.  The key to all good snark is to be witty, a little offensive, and contain a good dose of truth.  One of the Tweets that piqued my interest is this one:

“I’m in the top 1% because I want the best for my family. What does that say about the 99%?”

ZING!  Let’s discuss the merits of this statement, shall we?  I’m assuming that most parents in the 99% won’t be in agreement with the statement.  We’ll also touch upon why the 99% is better than the top 1% as well.

WHY THE TOP 1% IS BETTER

Logic would say that if you want what’s best for your family, you are going to be the most loving parent who makes enough money to provide everything in the world for your family.  From piano and soccer lessons, to study abroad trips, to $1,500 SAT prep courses, to full-tuition paid for at any college of choice, the best parents should arguably be able to provide anything for their kids.

To let your family worry about their finances is an unnecessary burden.  It may cause your daughter to have to work multiple part-time jobs during high school just to pay for college.  Given that she’s working so much, she’s at a competitive disadvantage vs. her peers who get to study 20 hours more a week to get straight A’s.  As a result, your daughter goes to a mediocre school, and ends up with a mediocre job for the rest of her life.

If you aren’t rich, you might only be able to afford an average house in a relatively dangerous part of town.  As a result, you subject your kids to negative influences that may corrupt their minds.  Why do you think there is so much urban violence in cities such as Oakland, Detroit and Philadelphia?  Even here in expensive San Francisco, where public schools are free, parents with money don’t dare send their kids to the school several blocks away, and would rather spend $20,000 a year on private school.  What a shame.

Let’s say you have the most loving husband.  He is the best homemaker on the planet with food on the table every night.  The house is always clean and the laundry is always folded.  The kids are always dropped off and picked up at school.  Finally, he rocks your world whenever you want.

If you are poor, you can’t treat him to anything super special because your finances won’t allow it.  But if you are rich, you could one day surprise him with a guys trip to Hawaii or a Porsche 911 Turbo just because you love him so much.  Aren’t you a better wife because you have the financial means to reward your spouse for a job well done?

WHY NOT STRIVE TO BE IN THE TOP 1% AS WELL?

Given that you agree it’s better to be able to provide everything for your family rather than not, why doesn’t everybody strive to be in the Top 1%?  If we truly want what’s best for our family, shouldn’t we stop being foolish with our money by spending on things we can’t afford?  Shouldn’t we get good grades in high school so we can get into good colleges so we can have the optionality of getting better paying jobs?

If we truly want what’s best for those we care most dearly about, why don’t we just try harder?  Whatever it is that we do to make a living, shouldn’t we do our absolute best for our family?

We all know that good grades + hard work + good communication skills + team work = success.

WHY THE 99% IS BETTER THAN THE 1%

On the flip side of the argument, one can easily argue that the 99% are much better than the 1%.  The 99% are by definition, most of us.  We are what makes up our great country!

* In any election, the 99% will always beat the 1%.

* The 99% combined pay more taxes than the 1%.

* The 99% produce more of our country’s servicemen and war heroes than the 1%.

* The 99% built America to what it is today.

* The 99% likely has more time than the 1% to spend quality time with the family.

* The 99% can’t spoil their children as easily as the 1%, thereby producing more thankful people.

* Without the 99%, there wouldn’t be such a thing as the 1%.

Readers, what do you think?  Is the top 1% better than the 99% since they can better provide for their family?  Do they care more about their families than the 99% as a result?  Or, is the 99% better than the 1%?

Why do you think there are so many anti-1% protesters?  Why can’t the 99% and the 1% live in peace?

Photo: Thomas Jefferson’s Monticello in Charlottesville, Virginia.  SD.  TJ died broke.

Regards,

Sam

 

Sam started Financial Samurai in 2009 during the depths of the financial crisis as a way to make sense of chaos. After 13 years working on Wall Street, Sam decided to retire in 2012 to utilize everything he learned in business school to focus on online entrepreneurship.

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Comments

  1. rma says

    Sam,

    I read the article with interest. However, there is one aspect that I couldn’t find in the article, the quality time available for family of the 1% and the 99%. Unless, you meant that getting into the 1% doesn’t require additional time as compared to staying in the 99%, in which I let the readers to determine its possibility.

    To me, all the money in the world mean nothing if I found out that my son is getting into drugs in the search for my attention (time), for example.

    I work in the oil & gas industry in my home country. I see that the successful employees (managerial levels) spend more time in the office when they weren’t managers, and even more when they are. We are a subsidiary of an european country entreprise. But the habit is not common in all subsidiaries. There is a subsidiary in europe with more relaxed work hours, but surely there are still managers there.

    May be, it all comes back to how we manage our time.

    Regards,
    A reader
    in Indonesia

    • David M says

      I was in Indonesia earlier this year it was wonderful. Flew into Yogjakarta and visited Borobudupur – it was wonderful. What does this have to do with your post nothing – just thought I would say I had a great time in Indonesia.

      I had previously visited Bali – however is that Indonesia? Just like I have only visited Bejing – have I really visited China?

    • MultiMillionaireRoad says

      The real question is how happy are the top 1% compared to the 99%? Does having more money make them happier? It’s a complicated topic and I just wrote an academic paper on it. The answer isn’t straightforward. let me know if you want to know any more about it.

    • Financial Samurai says

      You bring up a good point about quality time, as well as assumptions about how much extra effort/time it takes to get into the 1%. If the assumption is that it takes extra effort and time, then by all means, doesn’t it mean the 1% are harder working than the 99% as a whole?

      Would the assumption therefore by that if you want to be in the 1% and want what’s best for your family, you will bust your butt in high school, college, grad school, and the first years of work for your future family?

  2. David M says

    What does it say about me that I don’t have an opionion on whether the 1% is better than the 99% or the 99% is better than the 1%?

    I don’t look at these people as groups – each person is the person they are!

    Maybe this has something to do with getting out of America and meeting people that are “poor” but very happy. For example, I visited an elementary school in Laos last year and these kids were monetarily poor but they were so happy. Just thinking about these kids now makes me smile broadly and feel great.

    We Americans needs to work together to create a great country not work against each other. Congress needs to do the same thing – they need to work together to make America stronger now and in the future! I don’t see this Congress doing this – however, I would be happy to be proven wrong by them!!!!!

    • American Debt Project says

      I agree with David. While it’s fun to generalize on blogs and it can make for interesting blog posts, who you are as a person and what your character is will be the greatest influencer and shaper of your children and the harmony of your family. When we assume that certain groups are better than others, that’s where we get into trouble. Who is to say that the way society is now is the perfect way for it to be and if we don’t strive to be in its top 1% we are doing ourselves a disservice? Who said that $1500 SAT prep courses are reasonable, justifiable or make for happy, well-adjusted children and therefore we should definitely get it for our kids? I think your example about the perfect husband is very interesting. That description sounds like a housekeeper, not a relationship partner. I’ve never listed “folded laundry” as one of the elements of a great husband. You know what matters? Strong communication skills, the ability to work through arguments and differences, the ability to make each other laugh and most important, to have respect and loyalty to your partner. When you stop being a team, nothing else matters. You just lost the game. Sure, SOME of the things I want to give my partner need money. But more of it revolves around the strength of the relationship and our awareness of each other. Let’s not generalize who’s better, but rather focus on what matters for each person. In the end, awake and mindful people will also realize how important the community is and will find ways to give back and strengthen the community at any income level.

      • Financial Samurai says

        I wish my parents could have afforded $1,500 SAT prep courses… they told me to just go buy the $19.99 Princeton Review book! Who knows what my life would be like now if my SAT score was 100-200 points higher…….

        Optionality is good!

    • Financial Samurai says

      David, I think you’ve got to write President Obama a letter, because I agree! This @GSElevator twitter handle wasn’t created unilaterally. It’s partly a response of the continued class warfare that has been espoused by the President since taking office. How do we assail the very people who pay the most in taxes? Why not a thank you note instead and getting everybody to pitch in?

      • David m says

        I think a solution to the problem is to simplify our tax code. That way people will not feel that the “rich” are not paying there “fair share”

        However, unfortunately I do not think our tax code is going to be simplified. If congress ever gets around to making changes to the tax code they will probably complicate the tax code.

  3. Jon K says

    With so many bloggers preaching the “anti-college” movement, it’s good to hear you at least suggest college is important in the future well-being of individuals. With that said, Yes, I think that people who strive for the best for their children are better than others, who leave kids to “fend for themselves” with student loans, credit cards, etc. The obvious issue is the parents ability to attain wealth to provide the education and luxuries you mentioned above. Let’s be honest, some people simply can’t convert their hard work into wealth, so it’s hard to define the 1% vs. the 99% are better, but their underlying intent is better.

    • Financial Samurai says

      Are there really a lot of bloggers preaching their readers not to go to college? Maybe an expensive no name college that puts the student in a lot of debt…. but please, go to college. There are some amazing state schools out there.

      • Jon K says

        I’m sure you’ve read their posts – James Altucher and Penelope Trunk have taken hard stances on not attending college. Clearly, this is an overly broad view of things.

  4. Michelle says

    I would say that money to a certain extend doesn’t affect how you raise a child. Of course an income below poverty level might not be the best (due to stress, etc), but eventually there is a threshold where money doesn’t make you a better parent.

    I actually read the other day that $50,000 is the “happiness amount” for families. No one needs a full-time nanny that costs $200K, preschool that costs $100K, etc.

  5. WorkSaveLive says

    I certainly don’t believe that one is “better” than the other. The primary reason for the protestors is that the American dream has changed: it’s no longer the land of opportunity. It’s the land of opportunity as long as you don’t make ‘too much.’

    Jealously and envy have a lot to do with it. We define happiness but what we can own, so we assume the 1% are happier and live better lives than the rest of us. We see the glittering rich on TV with the nice houses, clothes, cars, and vacations and we WANT that.

    With all that said, the 1% have their issues too. Studies show that students who work part-time in college have a better GPA than the ones that don’t. I could easily argue that the 1% may set up a life of failure for their children as their children doesn’t know what “real” life looks like. What happens when the 1%’s children go out on their own and start making $50k/year? The Millionaire Next Door talks a lot about this subject and I personally saw it in high school where I was around quite a few 1-3% Americans. Their children now live as if THEY have the money (even when they’re in their late 20s) when in-fact they’re still relying on mommy and daddy to give them everything and supplement their lifestyle.

  6. Value Indexer says

    It’s possible that only 1% of people do the best possible for their families, I can’t say if it’s that 1% though! Like you said the other day everyone needs to start from what makes them happy and work back to what they need.

    People always need to have groups, if they didn’t have the 1% and 99% they would have to start office gangs.

  7. John | Married (with Debt) says

    I’m guessing that based on your wording of the question: “Is the top 1% better than the 99% since they can better provide for their family?” and your perfunctory flipside arguments that you believe this to be true.

    On what evidence are you basing that assertion?

    I’m sorry but I just can’t go along with defining the worth of a family based on the amount of money they earn.

    This makes me unable to take a side either way.

  8. Melissa says

    This is all a numbers game. Nothing more, nothing less. There’s nothing to say that earning more money than 99% of your fellow citizens makes you a better or worse parent. If someone at the top of the 99% makes an extra $10, and bumps into the 1%, thus bumping someone out, is that person a better parent than the person he just bumped out? I’d guess not.

    Not to mention the fact that even if everyone aimed to be in the 1%, there would still only be 1%, and the rest would fall somewhere below. It’s not a state that everyone can — or should — reach. Like I said, it’s just numbers, nothing more.

    • Patrick says

      Good response Melissa, but I do have a few opinions and questions for you as well.

      First off, the U.S. economy is not a fixed pie with a set limit of money and opportunities available. If you make more money you are not necessarily bumping someone else, that is the tails I win heads you lose approach.

      Second, money does not make you a better person. I don’t think anyone here would argue that money makes someone superior over those who make less. I can think of several movie stars and celebrities who had terrible drug problems, abusive relationships, bitter divorces and other problems that definitely don’t put them above “poor” people.

      Question: Do you strive to reach an arbitrary set number of wealth or do you think money will make you happy?

      • Melissa says

        Thanks for your response. Yes, anyone can attempt to increase their net worth, but 1% is still 1%. To put my comment in simpler terms, if there were only 1000 people living and working in the U.S., exactly 10 people will make up that 1%, persons 991 – 1000. If person #990 is only *just* behind 991, and makes a bit of extra, one new person doesn’t get added to the 1%, because there can still only be 10 people with that designation, so someone then gets bumped. The difference in income could be as little as a penny, which is why I commented that it’s simply a numbers game. Money, in any respect, can give you the options and resources to do certain things, but just because you make a certain income, doesn’t mean you’ll actually do those things.

        Besides that, the implication that Sam is suggesting is that people who make money in the 1% are able to give their families the best, when in actuality, providing those sorts of opportunities to your children can be had for much less money. Families making much less than that are able to provide well for their children. (And I won’t even start on how maybe it’s a *good* thing for your high schooler to have a job, even if you can afford to buy her whatever she wants.) The question might better be stated as: Are the top 75% of people better at raising families than the bottom 25%, because they make enough to provide more than the bare necessities?

        And to answer your question, no, I don’t strive to reach an arbitrary amount of wealth, nor do I expect more money will make me happier.

    • Financial Samurai says

      Let’s forget about the numbers and go back to the quote which implies the 99% don’t care as much about their family b/c they don’t have as many resources to their disposal. Does GSElevator have a point here?

  9. JT says

    GSElevator is one of my favorite Twitter feeds. Anyway, I think at any point you have more resources at your disposal you can be better at most anything. That doesn’t mean that you necessarily are better, but that, all things considered, you do have an edge over another person.

    • Financial Samurai says

      Just imagine if your parents were Yale alumni, and they donated $50 million to the library under your name. More than likely, you will be getting in, no matter what your grades, and be given a chance to hob knob with other very well endowed folks with connections. You could probably get a direct in at that hedge fund job you’ve always wanted.

      Sound good?

  10. Frugal Portland says

    My guess is that the top 1% are too busy to raise their own children, so they hire someone in the 99% to do the heavy lifting. Nannies, tutors, etc, to instill values in their 1%, so it could be argued that the 99% are better, since they’re the only ones doing it! :)

  11. Nick says

    Basic math (and Captain Obvious) suggests that there are more people in the 99% who are “better” at raising their family than the entire 1%, even if they were all fantastic, right? Maybe 2-5% are collectively better… Either way, I think money is overrated when it comes to raising kids and even caring for your family.

    Taking care of “needs” isn’t expensive (so the top 50% or more shouldn’t have much of a problem, generally). I know plenty of well adjusted people who were raised on very little $$ and that buying $40,000 cars you don’t need and taking luxury vacations when you can’t afford it might have something to do with not having “enough” money to take care of a family. Amazing how many “OWS” people protest while holding their iPhones and iPads, then asking for the 1% to give them money…

    (Disclaimer: I am not in the 1% but just get annoyed when people refuse to change their lifestyle and then complain…)

  12. Taline says

    Interesting article…I’ve encountered some of this top 1% and their children in various stages of their lives both in my investment banker days and my current law enfrocement profession.

    Yes, they blow/invest a lot of money in their children and their education, they live in the best neighborhoods, speak proper, and know table manners. They are so proud of their accomplishments. They should be right?

    Well, I have responded to more radio calls of drug overdoses and suicides for these top 1% than the 99%. In fact, I will go as far as to say I haven’t seen the 99% or their kids that screwed up. So do they necessarily have the formula correct? Not really. I would interview their kids/teenagers/young adult offspring and ask them what their issues were.

    I found that several were fed with a silver spoon and lacked the drive I had growing up because I didn’t have much. Their parents expectations were too high. From the requirements to be the best in whatever sport (of course of their parents choice) to being a straight A student and making it to an Ivy League School. I’m not saying these are bad things to want for your kids (I’m the mother of a 16 month old boy so I get it). But trying to be there and guide you kids to show them the way to succeed is one thing and forcing them to be on your value system are different.

    Many of these parents had no clue their kids were so heavily addicted to narcotics. Many of these private schools are terrible. I remember when I first came to California from Lebanon and needed to go to an Armenian private school to learn English (ESL), I learned that if your parents make the right donation to the school, you could buy your way into a diploma and awards like “perfect attendance” when in fact you missed several school days and failed many of your classes. At 8 years old I thought wtf? That’s stupid! I can say that many of those kids aren’t anywhere near where I’m at today.

    My mother only placed us (my brother and I) in private school for a year so we could learn English and it was public school from that point on (where I earned my grades and diploma). Yup, I’m a product of LAUSD and I turned out just fine.

    I live in one of those “great neighborhoods” and I love where I’m at (not so much my snobby neighbors). I like no ghettobird (helicopter) noise all day long, having the “safe” feeling, knowing there are really no crimes of any sort anywhere near me. Yes, it is a great place to raise my son. I will not live in less desirable neighborhoods to save a buck, I can do it in other ways. I have not made up my mind about private schools just yet. The school district I live in is one of the top in California so public school is just as fine.

    What I do know is that I will be there for my son and be a part of his life. I will try to show him that hard work is necessary and not always fun. I will allow him to choose to be in a sport (inform him of the benefits) and not tell him he needs to be in one. I will allow him to be a kid and not force him to become a mini adult. If he gets a “B” or “C” or shoot even a “D” I will not freak out like it is the end of the freakin world. I will try to understand what happened and help him out.

  13. shanendoah says

    I agree “that good grades + hard work + good communication skills + team work = success”, but I’m not certain that success is only defined by making it in to the top 1%, or that anyone who doesn’t make the top 1% is therefore unsuccessful (since that would mean that 99% of us are unsuccessful- and I certainly don’t feel that way).
    While I agree that you should have the money to provide for your family’s needs, I’m not certain it matters if you have enough money to provide all of their wants or not. Kids shouldn’t be given everything they want. Kids should have to work for something.
    I grew up knowing that I was expected to go to college and also knowing that I was expected to get an academic scholarship to pay for it. And I did get a full ride. I made my college choice based on that full ride, not on where I really wanted to go. But then I messed up and lost the scholarship after 2 years. My parents did not bail me out. If wanted to continue in college, I had to pay for it myself.
    My undergrad loans weren’t bad, but my later managing of them was, and I’m still paying on them 12 years after I graduated, with the balance not even $1k below the amount I actually borrowed. Would I be a better person if my parents had instead stepped in and paid for my college?
    Would I be a better person if I had gone to a fancy private school instead of a state school? What if for my MBA, I had gone to a big name school instead of choosing a program that actually worked for me? Would my parents have automatically been better parents if they could have paid for me to go to “better” schools?

    I think most parents want to raise their children in the best possible way. I just don’t think it requires the money of the 1% to do so.

  14. Thomas - Ways to Invest Money says

    On this one I am just caught in the middle. I don’t think that raising a family has anything to do with money. I didn’t come from a wealthy family in fact we struggled and it made me who I am today sure I had a lot to learn about finances and money but family was there and so was love. I have seen the same from some of my friends whose parents made a lot of money.

    I guess it really depends on the household and how you view raising and taking care of your family. For some its money for others its quality time. I feel the if it is solely based on income then its not a valid enough argument. I would have to think there are great parents in the 1% as in the 99%. I would love to have the money of the one percent and if it still allowed me to enjoy the family.

  15. krantcents says

    Providing for your children is much more than money or what you give them. It is showing up for your kids’ games, plays or birthday parties. It is sharing values, experience and spending time with your children. Most people who earn a lot of money need to spend a great deal of time at work. I know I worked on average 60-70 hours a week, but I took off for games, awards and anything my kids were in.

    There are good and bad parents in every income level. I find that divorced parent have the most trouble supporting their children emothionally and psychologically. Finances are secondary. When I taught in a low socioeconomic school, the kids were better behaved than a higher performing high income school. Mor than money, it is the priorities the families have that are important.

  16. Trenton Lipscomb says

    Doesn’t this boil down to greed and envy? If the 1% are vilified for their greed, shouldn’t the 99% be labeled greedy AND envious? After all, they want stuff (more entitlements) and they want it from the 1%?

    And if that’s all true, is someone who is greedy better off than someone that’s greedy and envious? Nope, they’re both going to have problems.

    From a 94%-er.

  17. Kris says

    Currently we are moving to a part of the country where we can be middle class, have good public schools, and live in an area that isnt prohibitively expensive yet nice. We are moving from paradise, where it is astoundingly beautiful but where we would struggle everyday to send our kids to private schools, live in a crappy apartment, and where our salaries would be lower.

    I don’t see it as the 1% being better than the 99%, but I do think we owe it to our kids to try and give them the best possible start – and in our case it means moving away from paradise (though it breaks our hearts) so that they can live a better life, with a little more money, and less struggles. The 1% is able to give that to their kids anywhere, but for the middle class we need to find the best place to raise our kids that will match what we need in terms of money, education, domicile, etc.

  18. eemusings says

    Hahaha. There’s also a Conde Nast elevator Twitter feed, which is equally entertaining. (Off topic, there’s also a new, hilarious account for the Tupac hologram, if anyone’s interested.)

    I don’t really want to wade into this debate. Good parenting is not dependent upon wealth. However, I am a big believer that while money doesn’t = happiness, money makes life a hell of a lot easier. Especially when kids are added into the picture.

  19. The Genius says

    Quite honestly, the 1% do want what’s better for their family. I know so many well to do people who are so driven to succeed b/c they want to give the world to their family.

    If you are a parent who is buying things they can’t afford and not being the best to provide a comfortable living for your family, you don’t care as much.

  20. Untemplater says

    I’m not a parent yet so I can’t speak from a parental point of view, but I think my parents did pretty darn good as part of the 99%. They’ve never had a lot of money but they found ways to get me into good schools and taught me good values. They didn’t have the skills or the education to help me much with school work, college applications, or networking opportunities, but they have always given me a lot of emotional support which is priceless.

    I think anyone has the potential to be awesome parents if they love their kids, support them, and spend time teaching them things no matter how much money they have. Sure money can buy a LOT of things and provide a lot of advantages but money doesn’t make someone a model parent.

  21. Charlotte@EverythingFinance says

    If your in the top 1%, what do you dream about? I think the lessons you learn going thru life as one of the 99% makes you a better person. If everything is handed to you on a silver platter you won’t be greatful for what you have. Just my thoughts.

  22. Lucille says

    Raising a family is not just about having enough money….if it was then it’d be a joyless task!
    It’s not about living in the best house in the best neighbourhood with a white, picket fence and roses around the door!

    Parenting is about the correct distribution of love, intelligence and time. Children don’t need as much money as they do love. It’s good for children to experience a few hardships…..challenges maketh the man and woman! I wouldn’t want my children to have a life of financial ease as they wouldn’t learn values and appreciate what is provided for them.

    I grew up underprivileged; my parents couldn’t afford alot and there were 4 of us close in ages. My parents couldn’t pay for music or extra sports lessons and none of us went to college. Do I feel disadvantaged today? No…because I know that my parents passed on to me a greater wisdom about making life rich…without any money.

    One of my brothers left school at 16 without any qualifications. He worked from that day to this. He is a co-director of a successful firm he founded at 19. His philosophy is that money given to you when you’re young stifles creativity. Coming up the hard way is learning for life…I can’t disagree!

  23. Find financial adviser says

    I think the 99% is better than the 1%. I remember a famous quote :

    “In a democracy the poor will have more power than the rich, because there are more of them, and the will of the majority is supreme.”
    Aristotle

  24. Squirrelers says

    Of course, any parent would want to offer their kids resources of the 1%. The ability to go to a top school with tuition paid, or taking on loans at a low cost college….wouldn’t anyone choose the first option!

    However, neither group is better by virtue of their membership in the 1% or 99%. I don’t think the ability or willingness to make a lot of money makes somebody better or worse at raising a family. There are too many other very important variables in that subjective assessment to make a blanket statement.

    So while money is great, it does not automatically reflect the ability to be a better or worse parent.

  25. Shilpan says

    Sam, I don’t know if I can consider myself in 1% just on my work income, but combined business and work income certainly qualifies me. With that said, I see merit in your statement. My wife and I have provided best private education for my daughters. They have lived in one of the best areas in the northern Atlanta suburb, and due to the environment, they have made friendship with boys and girls from the rich upper class families. Just yesterday, my daughter told me that her room mate’s father is on the board of the Brown University. My daughter is presidential scholar at NYU. She is exploring an option to attend Brown and then Harvard. I can attest that having more money at your disposal certainly helps raising kids.

    • Financial Samurai says

      Thanks for the insights. With money comes connections as you prove. It’s not that the rich don’t want to hang out with the poor. It’s just that they only have so much time, and are making friends with people in their same economic and intellectual surroundings. It’s just the way it is.

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