This morning as I was reading news highlights in Yahoo homepage. I was drawn to the topic on "What the Rich Worry about". Out of shear curiosity I read the article. I don't think I was overly surprised at what they said the rich worried about...what shocked me is that they put it into print for the world to read...here are a few excerpts from what they had to say......
"rich do fear being cheated by an unscrupulous financial adviser, being a victim of some other financial fraud, having their identity stolen, being unjustly sued or violence against themselves or their families."They have all sorts of security issues ... because they have more at stake......."
The other thing they say they worry about is "Money" How ironic is that. But it is true. The wealthy worry about keeping their money, making more money and teaching their children how to appreciate money...
"About 30% of those in the US$1 million to US$5 million bracket worry about teaching their children how to manage money. That number doubles at the highest tier. Balancing family and business interests worried 23% of those in the lower range and 60% in the highest."
"They are concerned that [their children] be in control of the money, rather than let the money be in control of them,'' says Jon Gallo, co-author with his wife Eileen Gallo of Silver Spoon Kids and The Financially Responsible Parent: 8 Steps To Raising Successful, Generous, Responsible Children."
The report goes on to say....." 94% say the same was true of "the lifestyles of the exceptionally wealthy." These exceed the 81% who say "not being able to meaningfully enhance" their current lifestyle is important, which is about the same level as "making sure your heirs are taken care of."
As Russ Prince(interesting name for an author of such a report don't you think) describes it, it's the mindset of "I have the $5 million jet. I want the $10 million jet." But he doesn't see it as greed. Rather, he says, it's simply a reflection of what everyone at every income level wants: something more.
" 'Greedy' is the wrong word,'' Prince says. "This is not a bad thing. This is the capitalist model. The desire to keep moving up, to enhance their lifestyle, is critical to having this entrepreneurial society.''
I found this whole article very disturbing. It made me curious as to what is the average household income both in Canada and the USA this is what I found. The average household income for a Canadian family in 1995(sorry most current stats available) was $58,899. In the USA they say the average White Non-Hispanic household income is $48,997 that is for year 2004. There are 39 million people in the USA living in poverty that is more than the whole population of Canada. What's even more disturbing is that 13 million of those people are children under the age of 18.
How dare Mr. Prince say that using the word "greedy" is wrong. You tell me...why should so few have so much, when the future of countries lies in the hands of their children and yet we let their children live in poverty.
I am not saying that the wealthy are not entitled to their wealth. Some have worked extremely hard to get where they are. I take exception to the likes of celebrities like Paris Hilton who do nothing with their lives other than spend the family wealth and the cry to the courts because they have been to harshly treated. Boo hoo Paris. I digress.
I just find it so terribly frustrating when I read articles like the one I read this morning....it truly tells me that some journalists still have their heads up their.....and haven't got a clue as to what the average person thinks, needs or desires. In times when gas prices are skyrocketing, to be able to purchase a home is becoming a thing of the past, for some even putting a meal on the table is a chore and then to be told that the rich have worries as well....like how to make their children socially responsible and how they will buy their next jet...oh please give me a break. We should be teaching our children to be socially responsible regardless of their socio/economic situation and as far as the jet goes...well if you have a dream go for it...but not on the backs of others.
In countries like Canada and the USA poverty should be a thing of the past. One shouldn't have to be working 2 or 3 jobs to put food on the table. And as for the rich....well I am happy for them...but I certainly don't give a rats....about how they will buy their next jet.....
Happy Monday all!
11 comments:
When I was growing up we didn't have a lot. Most of our food was grown at home. My Dad was a laborer. My Mom sublimented his income by taking in sewing, ironing, and field work. I did field work and baby sat to earn money for clothes. Before my Dad died, his income was around $700. a month. He had to buy house, car and supplimental medical insurance. His insurance and perscription medicine took the biggest cut of his income. He was considered impoverished. But do you know he would have said he was rich, not in material things but in blessings. I bet those millionaires don't say that.
Mama Bear
How very true Mama bear...thank you for sharing....
AMEN!
What has always botherd me is that 87% of donations given to charity are donated by people in the middle income bracket or below. I think if you have wealth you have a responsibility to help others, not buy a bigger plane.
Its very true, its amazing what clarity comes with not having. I've always said that I would like to have a house and food on the table but not be rich. Too much pressure!
I totally agree. We still have homeless families (with children) living on the streets in Canada and the US. Did you ever see a movie called "The Pursuit of HappYness", the true story of Christopher Gardner? He and his little boy slept in a bathroom in a train station. So I don't have much sympathy for the Donald Trumps of the world, when they are people sleeping in the street outside his building.
The wealthy should be doing more to help the have-nots.
Josie
I meant to say "there" are people... But you knew that. :-)
of course I did Josie....and yes I did see that movie ...it was great movie and very inspirational...
Hope you had a great day!
Their will always be the 'haves' and 'have nots', unfortunately! The socio-economics of the class system (which some say doesn't exist)wouldn't work if there weren't this group! A few of the 'have nots' have made choices and are homeless and poor through daily decisions they make and want a 'hand-out' instead of a 'hand up'! But for those who are truly struggling just to make ends meet and feed their families, it doesn't look like it will get any better for them, does it?
Thanks for making me think....Hugs, my dear friend!
great post!
I think the thing is here is 'who cares' what they think other than other rich people!
I mean are the poorer people supposed to feel sorry for them? Or feel that they have soo much in common.
Riiiight.
I think, on one hand, probably most of us would say "Gee, I wish I could think of buying plane fare to go see someone or take a vacation someplace" as opposed to buying an upgraded model of a jet. And, I can understand the rich worrying about the safety of their families too -crazies all over the darned place.
And, as to the charity aspect, I think those who donate there the bulk of that, is maybe because they have more ability to relate to those who don't have or are living very close to the edge of nothing. How many who are really wealthy could possibly understand that aspect?
BTW - loved the flower pictures in your earlier post too!
Why, RN! I thought you didn't like politics. ;-)
The there will always be rich and poor, but the issue is the difference in distribution of the wealth. Bush's No millionaire left behind program has created a situation where the combined income of the top 1% of US citizens exceeds that of the bottom 40%. Never in history has the income disparity been greater than it is now. When I walk to work, I see people sleeping in doorways daily. Over 46 million of us have no health coverage, and with todays prices, that means no health care for the working poor. The greed of the super-rich, who export our jobs to rake in more profit, is a national shame in the US.
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