This tends to happen with nouveau riche - the generation that makes the initial wealth usually grows up in relative scarcity and is better due to it (learning money management and the importance of not overspending, but saving as much as one can). But they lack the skills or ability to pass this education on, the second generation is spoiled because the parents want to give their kids everything they couldn’t have in their childhood, and thus that generation becomes entitled little shits who care not about money because they always seem to have enough for anything they want, let it be a new car, a new bachelor pad, or paying off the right people to get out from a DUI or drug charges.
This even tends to happen to people whom aren’t even rich rich, just well off enough so that money isn’t really an issue. Real estate can be one of those businesses where one can get to that level of well off.
I agree with you and have, as someone who has known plenty of folks who are “old money” (think British landed gentry e.g. Saltburn-type folk) and they often don’t realise their privilege but also don’t flaunt their wealth. They never want for anything but they don’t go around with a “look at me” attitude. They’re often quite odd and disconnected from reality though - lacking an entire knowledge base of street smarts.
This tends to happen with nouveau riche - the generation that makes the initial wealth usually grows up in relative scarcity and is better due to it (learning money management and the importance of not overspending, but saving as much as one can). But they lack the skills or ability to pass this education on, the second generation is spoiled because the parents want to give their kids everything they couldn’t have in their childhood, and thus that generation becomes entitled little shits who care not about money because they always seem to have enough for anything they want, let it be a new car, a new bachelor pad, or paying off the right people to get out from a DUI or drug charges.
This even tends to happen to people whom aren’t even rich rich, just well off enough so that money isn’t really an issue. Real estate can be one of those businesses where one can get to that level of well off.
I agree with you and have, as someone who has known plenty of folks who are “old money” (think British landed gentry e.g. Saltburn-type folk) and they often don’t realise their privilege but also don’t flaunt their wealth. They never want for anything but they don’t go around with a “look at me” attitude. They’re often quite odd and disconnected from reality though - lacking an entire knowledge base of street smarts.