A wealth gap

I can across an interesting article that coincides with what I’ve been thinking hard about these past few days. It’s about black people and wealth disparities. You can read it here . As the product of two generations of a middle class family (grandparents and parents), I don’t have anything to show for all their hard work. No property, no trust fund, no assets. Just a crippling amount of student loan debt. And I know that I’m not the only one in this predicament. Growing up, my father worked and my mother stayed home to care for us. She decided that she wanted to raise her children and homeschool us so she did. As a result, we lived in a single income household. A phenomenon that I’m experiencing now with my household of one. There are so many things that I want to do now but I won’t be able to because of my financial obligations. Transitioning to teaching or a post-doctoral position would require a pay cut of about 20k to 40k per year and I can’t afford that. This year one of my goals is to become more financially literate and I’m working on it. However, I wish that I didn’t have to start from the bottom and if I ever make enough money to afford kids I want them to have a different experience. It’s like I’m starting off at a disadvantage and don’t have the opportunity to at least start at baseline. Definitely tough.

Poor at 35

I ran across this article recently and the title of it caught my attention. The main assertion is that you deserve to be poor if you have reached the age of 35 still being poor. In a world where there are so many inequalities and everyone does not have the same opportunities, I think that such proclamations have to be taken with a grain of salt. However, the fact remains that we all have the opportunity of time. The 24 hours a day that we spend doing our daily habits is no different than the 24 hours that a billionaire is afforded. It’s all in how you spend it. My favorite sentence of the article: “You’re poor because you have no ambition.” This doesn’t necessarily always mean education in the traditional sense. We judge people who drop out of school without recognizing that school isn’t something that’s necessary to succeed. The fact of the matter is that by age 35 a lot of people have become set in their own ways. Their childhood dreams have given way to the harsh reality of adulthood and they are in the middle of making payments on their car, their house, and their student loans. A lot are married and/or raising children and just trying to survive. This makes it hard to think about retirement and all the places they’ve always resolved to travel but haven’t yet. I heard someone say that it’s a sin to die poor and while I don’t agree, I think that dying poor is something that many people would never choose to do. We have to remember the bigger picture while living day to day. It’s essential. Don’t let your dreams collect dust.

Upgrades

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I absolutely abhor the first sentence in the picture. The second is more tolerable. The truth is that we live in a materialistic society and there’s little chance of that changing anytime soon. Maybe one of the reasons I hate that sentence is that it implies that you won’t care as much about the money if you have some of your own or you aren’t lazy. Money impresses more than just lazy people. And we all know people who work extremely hard but have absolutely nothing to show for it. People who want to accomplish things with their lives don’t want to be with someone who holds them back. Working hard isn’t all that’s necessary. There are other things that must be present. Love does not pay bills and having a man with money can not only be a bonus but also an upgrade. I’m against that as one’s only plan out of poverty but one of THE smartest financial decisions a woman can make is to get married. If you bring something substantial to the table, I feel like you shouldn’t feel bad that his net worth is also calculated with his marriage ability rating. If I’m merging my life with yours I want to come out with a better deal than I went in with. It doesn’t always have to be money but that will play a pretty sizable part. I agree that money doesn’t bring happiness but I personally would rather cry in my BMW than on my bike.