Rose Kennedy, USA President John F Kennedy’s mother, used to tell her children, because they were born into a wealthy family, it was their responsibility to spend the money wisely. They should care for others and never to be mean with money.
When one is born into a wealthy family this is a gift of birth. Similarly, when one becomes wealthy by good investment, and work opportunities this is also a gift. There is no Right to being wealthy. It doesn’t make one any better in society than others. Yes, it might buy you things others cannot afford, but that wealth doesn’t give anyone the Right to treat others as servants or belittle them because they are not as wealthy.
Money grants people purchasing power. They can save and buy a home, a car, even a business. But many people who are wealthy don’t use their money that way. They seem to see money as only theirs and keep aiming for more. The more they can get, the more they want. I have often wondered why?
I can understand those born into a wealthy family are so used to having money they don’t understand the value. Whatever they have wanted they have had, whereas the majority of the world go without many things because they don’t have enough money to buy them. Never having known what it is like to go without makes it difficult to understand what it feels like. Yet, if their parents taught those children that just because they wanted it, didn’t mean they could have it, or they should save up to buy it, then the item purchased would mean more to the child and they would have some empathy with poorer people.
Many years ago, I had a lovely wooden coffee table which housed a radio and turntable. My cousin’s daughter really liked it, and as I had purchased a better system, I was happy for her to have it. But there was no way I was just going to give it to her. I wanted this young girl to value the coffee entertainment table. The -only way I was going to achieve that was to make her buy it from me. She had pocket money, so I set a reasonable price where she could give me a deposit and pay the balance over a few months. She did this faithfully and loved her entertainment table. She also took good care of it. And that was what I wanted. I also think when she looked back on the transaction later in her life she will have realised, because she paid for the unit, she valued it more.
That tale shows just by giving children everything because you can afford to, doesn’t always help them when they are adults. Being careful with money is not only wise, but has to be taught. There are many once wealthy families where one child who inherited it all, gambled it away, not even aware of how much they had or where the money came from. A sad situation. Third and fourth generation wealth is quite often wasted on unnecessary purchases. The great, great grandfather who made the money would have been disappointed at the grandchild’s inability to handle it.
Those who have gained wealth through their life, and hoard it to become wealthier instead of spending wisely on others, should take note of the behaviour of the third and fourth generation wealthy. You make it, your children grow up with it and expect it always to be there, passing that expectation to their offspring. This just adds to the problem, because three or four generations later, the children grow up without any knowledge of how to make money, just how to spend it. And they do, but not wisely.
As I have mentioned several times, I have travelled to a lot of different places on this planet. I think what upsets me most is the condition of property in the poorer nations. I have often wondered why those, with so much money they will never
Spend it in their life time, don’t adopt one of the smaller towns of a poorer nation, especially ones that have character, and pay to give the town a makeover. Repair the old heritage buildings, and make the area somewhere the townsfolk can be proud to live. Not only would they have a place that tourists would want to see, but it would provide work for the local inhabitants and raise the standard of living in that society. Of course, they can’t make it so that locals would be pushed out and the rich move in. No, it would have to keep its original character and become somewhere interesting to visit. The locals would give it the atmosphere.
As I said at the beginning. Wealth is a gift, and should be used to help others and maybe spent on teaching people of poorer nations how to lift themselves out of poverty. Then everyone on this planet could have food in their bellies, a roof over their head and educated children. Now wouldn’t that be nice?
Julie Finch-Scally ©
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