The crazy rich phenomenon that is getting more and more popular on social media may make most people jealous and want to live full of wealth. Everyone has the same opportunity. It's just that, depending on how each individual set a strategy to achieve it.
Even though it looks easy and insecurity free in living life, being crazy rich or super rich is not always good, you know. Rich people still have worries in their life even though they don't show it in front of people.
Their life may be more difficult than our eyes seem. What are those concerns? Compiled from the Money website, the following is a direct statement from the mouth of Crazy Rich, through surveyors in the United States. Some of the identities of the sources below are anonymous for the sake of privacy.
Children Who Grow Up Spoiled
Born to rich parents is said to be able to grow a spoiled generation. One wealthy person who was a respondent to a study conducted by Boston College's Center on Wealth and Philanthropy was concerned that money could mess with children.
"Money gives them a sense of entitlement, prevents them from developing a strong sense of empathy and compassion," said the respondent.
A wealth adviser from a major national financial services firm also said the same thing. "From my experience, the worst consequence for wealthy families is incompetent and not independent adult children," he said.
"Many do not contribute to the betterment of society, and are completely dependent on their family's money for their survival and that of their offspring. This is an endless vicious cycle," he continued.
Warren Buffett once said a sentence about children quoted from CNBC, "The very rich must leave their children enough to do anything, but not enough to do nothing."
Worried about Kidnapping
Crazy Rich's next concern is kidnapping. This is felt by an heir on the Forbes Richest People in America list. According to her, she was constantly worried about the safety of her children as a target for the kidnappers.
From Financial Advisor magazine, experts working with the rich say that children's Facebook accounts can be one of the biggest identity leaks for wealthy families. In other words, criminals can take that information and use it as a target for kidnapping children from wealthy families.
Vulnerable to Lawsuits
Some people may think that the rich have a sense of security in legal matters. However, in reality this is not always the case. A CEO of the Green Pal platform, Bryan Clayton, says that wealth can bring lawsuits.
"It's no fun when, once a month, a stranger appears from the bush to say you've been prosecuted."
According to a survey by Prince & Associates referenced in US News & World Report, less than 20% of people with a net worth of $1 million are worried about being sued, while 80% of those with a net worth of more than $20 million have the same fear.
Someone Borrowed Money
Rich people have more money than other people by way of work and long struggle. However, many people see that wealth is something instant, so it is easy for other people to borrow money.
"If a friend or family member thinks you have money, they're usually more likely to borrow money than they are to think you're struggling just like them," says Valerie Rind, author of Gold Diggers and Deadbeat Dads: True Stories of Friends, Family, and Financial Ruin. .
If you decide to lend money to someone, be prepared that the loan is likely to change your personal relationship with them.
Sincerity Friends
Money invites many people to come. Because, who doesn't like him? This sometimes makes rich people seem more attractive than ordinary people to make friends with. Where rich people are considered more profitable from various sides.
Don't hesitate to tell your friends about the frugal lifestyle you're living. Illustration of a friend. (Photo: freepik/tirachardz)
This phenomenon is a cause for concern for many wealthy people out there. Are the friends they currently have really genuine friends or is there something they want to get out of it?
Do you often know this phenomenon around you?