I don't think comparison is ever helpful.
However, just food for thought. At least in the US 75% of income inequality is explained by generational wealth. Take 2 examples-- a former mentor and i.
Her. Parents owned a large home, several rental properties, had sizable retirement accounts etc. Therefore they were able to help mentor pay for college, vet school, and a down payment on house. So when she started working my friend could immediately start investing money. When their house needed major repairs, her parents gifted them $20,000 to fix it. They are well above me financially. When her parents pass she will inherit about $300,000--- enough to set HER kids up for college and first homes too.
Me...single mom, working overtime to pay bills, small company pension, that's it. I start working when i was 12, help pay household bills. I am lucky and get a college scholarship but when i start veterinary school my mom is barely getting by so take out loans for tuition. I have to rent so I am out money every month instead of investing it in property. When I get out of school there is no one to help me, so I have to borrow money to start up my veterinary practice. No savings for retirement. I am better off than my mom bc she had a high school education only and i am a veterinarian. When she passed I inherited $10,000 which didn't make a dent in my debt.
So....generational wealth is a HUGE factor and no point feeling bad about it bec ause its out of our control. You do your best with what you've got. Contentment comes from INSIDE yourself, whetger you are broke or wealthy
|