The disadvantages of being born into a rich family.
Being born into wealth is a dream many people have nursed at some point in their lives.
I see Bill and Melinda Gates on TV, and I can't help but wish they gave birth to me.
I mean, I probably wouldn't mind them adopting me at this age if a suitable offer was made,
would you?
I am sure my biological parents wouldn't mind either, so don't give me that look.
Being wealthy has a lot of advantages.
The thought of meeting all your needs and wants with just the click of a finger is a
fantasy an average person wants to realize.
This pushes a lot of people to sacrifice peace of mind and quality of life in pursuit of
wealth – sometimes, even to illicit activities.
But is it all worth it?
Do we feel we will be better off if our parents had birthed us into more wealth than we could
ever need?
Is there really a downside to having everything we need at our disposal?
The pitfalls of being born into wealth
Having a rich parent and having all the fancy things money can buy - the vacations, fast
cars, the toys, the 30-bedroom palace, the staff who would be at our beck and call, seems
heavenly.
Right?
But it may not be so ideal.
Let's look at some of the ways being born into affluence is not what it's cracked up
to be.
1.
Less Independence.
Children from a wealthy background have almost limitless opportunities.
Their names alone could unlock doors the average person might fight their entire lives just
to open a crack.
This alone can set the ball rolling even before it is ever kicked.
However, the downside to this is that kids of wealthy parents may probably never know
what it feels like to be genuinely independent.
In most cases, their paths are already chosen for them.
Wealthy parents, who own a telecom company, would want their children running the show
in the future.
Now, what if the kids have no interest in the company whatsoever, what becomes of their
own aspirations?
What if all they wanted was to be a professional photographer or an auto mechanic?
While the child of the poor has the luxury of shaping its future without much interference
from parents who are always grinding trying to make ends meet, the children of the rich
tend to have vital life decisions influenced by overbearing parents.
So in most cases, opportunities for children of wealthy parentage are mostly the ones presented
to them by their parents; they hardly have much say in determining their future.
2.
low sense of accomplishment.
We tend to value the opportunities we create, especially when they are limited.
A string of accomplishments, triumph over odds, and wins gives a person greater confidence
to face life and do more.
A rich kid, with everything handed down to him, often lose out on this sense of accomplishment.
After all, he doesn't have to fight to make a name for himself; he already has one.
They are less likely to feel good about themselves, and this could lead to self-esteem issues.
Children born into wealth will always have a point to prove, not just to their parents,
but to the society at large.
While this might be a proper motivating factor to spur one towards success, it can also be
catastrophic if not handled properly, especially when the expectations are really high.
In such cases, the fear of not wanting to fail becomes more dominant than the fear of
succeeding.
One little mistake can bring a whole empire crashing down.
The thought of this alone can cause an absolute panic that often leads to depression and substance
abuse.
When we try to meet up with expectations that we have not set individually, we tend to stutter
along the way.
The expectations on the shoulder of a child born into wealth are one that the child born
into poverty does not have to endure.
He has nothing to lose, and as such, will have a clearer mind and a sense of responsibility
to succeed.
People look up to him to be a success, and not hoping he doesn't fail.
Anyone would do better in an atmosphere that breeds hope than in one that breeds fear.
The child born into wealth and affluence will always feel the need to be a success at what
he does.
He doesn't have the privilege or the luxury of failing and learning from his mistakes
because, in most cases, a lot is expected of him.
This pressure to avoid failing at all cost often leads them to act irrationally, especially
when challenges arise.
They may then seek escape with substance abuse or suffer other psychological issues.
And possibly hurt themselves and others around them.
3.
They Have An Entitlement mentality.
I saw a movie recently, titled 'knives out' that played out the scenario I am about to
explain.
Sorry for spoiling the movie for you if you haven't seen it, but I do want to make a point
with the storyline.
A rich grandfather had children and grandchildren alike whom he loved and cared for.
One of his favorite grandsons who has never worked a single day in his life found out
he would be cut out of the will, not just him alone, but the rest of the children as
well as the grandchildren.
He got annoyed and planned to overdose the old man and then pin it on his nurse, who
was later discovered to be the sole heir of his properties.
What was his reason for cutting all his relatives from his will?
Well, he felt they were too dependent on him, and he needed to teach them to be independent
and responsible adults.
But it was a little too late, in my honest opinion.
This was a trait he ought to have instilled in them a long time ago and not in their late
fifties and sixties.
One of the hardest decisions made by wealthy parents is telling their kids that they would
have no part in an inheritance they have grown up to enjoy.
They end up making the same mistake their granddad made in the illustration above, but
they do it too late.
Entitlement is something rich kids grow up with.
Although it gives them a bold outlook about life, it also makes them feel they deserve
everything they want.
When they don't get it, they blame everyone else but themselves.
A child who is raised in a poor home knows the value of hard work and the contentment
that it brings.
The only entitlement that he thinks of is the one he earns.
He knows his shortcomings and acknowledges them without pointing fingers elsewhere.
Although this varies due to differences in parenting, it can be said to be the case in
most instances.
Like I stated earlier, the rich kid always gets what they want.
They don't know the feeling that comes with rejection.
And when they eventually get rejected, or fail to get their way, it always affects them
more profoundly than their less wealthy peers.
They are usually unprepared for not getting their way, unlike their poorer counterparts
who build their success stories from the rejection they get.
Rejections and entitlement do not go hand in hand, but you need to be rejected at some
point in life to get the right to be entitled.
A rich father who gives his children all they want, should not complain when they grow up
feeling that they are entitled to all he has, when he brought them up that way.
Entitlement has its advantages.
It gives a child an air of confidence, hope, and satisfaction.
On the other hand, if not properly managed, a sense of entitlement could make the child
lazy.
And he may not know the values of what he desires because he feels he his entitled to
them to begin with.
4.
Patience and perseverance
Patience, they say, is a virtue—a key ingredient in maintaining success and attaining success.
A child born with privileges might become accustomed to growth and easy successes, but
what happens when everything comes crashing down?
Will he have the patience of nurturing it back to its former glory?
This is less likely because his privileged life hasn't taught him the virtue of cultivating
patience.
He will find it difficult to go back to the drawing board and slowly dig himself out of
the rut.
Remember, his easy life makes it less likely for him to want and expect instant results.
But I dare say that the experience that comes with the daily fight for survival, the victimization,
and rejection the child raised in a poor background would have to face growing up will definitely
prepare him for circumstances like this.
It's one thing to keep renovating a building, but a whole new level to build from scratch.
All builders are renovators, but not all renovators are builders.
So in Conclusion, I really have nothing against children born into wealth because it was not
their doing to begin with.
They also have lots of things to be admired, such as their boldness when confronted with
challenges, the right education, and qualifications.
However, all of the shortcomings mentioned above can be corrected with the right parenting
attitude.
Due to the exposure and maturity that being independent brings, we see children of the
wealthy and affluent choosing to stand on their own and ignoring the parental privileges
they were born with.
This, to me, is the way to go.
A perfect example is Anderson Cooper of CNN, who, despite having a huge inheritance that
comes with being a Vanderbilt, decided to distance himself from it.
He instead chose to work his way to the top.
He is actually one of the top earners in his field today, money he can't be denied of even
if his rich mother wanted to.
A Wealth to be proud of is one that is earned.
Bill gates have promised his entire wealth to charity, thus ensuring that his kids are
not totally dependent on him.
It doesn't matter how much you give a person.
If they are not mentally able to handle the pressure that comes with the expectations,
it would be a total waste of time.
Teaching kids of all classes, whether rich or poor, to be independent, is of vital importance.
We all want a better life for our children, but if it's the sort of life that will put
them on a path to empty decadence, then it's not worth it.
And for those of us who still want to be adopted by Bill Gates, I hope you have a rethink after
knowing that you won't be benefiting from his will after all.
So I would suggest we go for another billionaire.
Maybe Jeff Bezos?
Thank you guys so much for watching.
Make sure to Like, subscribe and I’ll see you in the next one.