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Whoever thinks this is good advice has an extremely easy life. Most people have literally no slack time at all. You're supposed to execute your great plans in t

by feoren 2y ago

Whoever thinks this is good advice has an extremely easy life. Most people have literally no slack time at all. You're supposed to execute your great plans in the 1 hour per day you have after work, commute, taking care of family, and occasionally taking care of yourself? The hour in which you are deeply exhausted? If that doesn't sound like you, congratulations: you have an easy life. So the real advice is the same as all life advice under the hood: just be born into privilege.

shepherdjerred 2y ago
Do you really think there’s no upward mobility for someone not born into privilege?
- feoren 2y ago
  A lot less than most people seem to think. By far the best predictor of someone's wealth is their parents' wealth. By very far. The vast majority of wealth is generational. But even if you believe in upward mobility, the point is that needs to happen first before you possibly have time, energy, and money to devote to your passions. It's not backward; if you'd argue "no, succeeding in your passions is what enables upward mobility", then you (A) are thinking of a very small subset of highly marketable passions, and (B) have identified the catch-22 that makes upward mobility so uncommon.
  - LordNerevar76 2y ago
    Do you happen to have any studies to back this up? It makes sense that parental wealth would be one of the strongest predictors of wealth, but I know of at least one study that has demonstrated that 79% of millionaires did not receive any inheritance from their parents. Source: https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research https://www.ramseysolutions.com/retirement/the-national-stud...
    - feoren 2y ago
      This Georgetown report is a good place to start, they aggregate findings from a lot of different studies: https://cew.georgetown.edu/cew-reports/schooled2lose/ https://cew.georgetown.edu/cew-reports/schooled2lose/
    - Jiocus 2y ago
      The prediction does not hinge on inheritance (most folks manage to start their own lives, careers and families well before their parents pass), but on the upbringing, milieu and economic as well as social capital available. "You're likely to stay in the social class you were born into" - is basically what the predictor means.
  - shepherdjerred 2y ago
    You're right and I agree with what you're saying here.

by feoren 2y ago

shepherdjerred 2y ago

Do you really think there’s no upward mobility for someone not born into privilege?

feoren 2y ago
A lot less than most people seem to think. By far the best predictor of someone's wealth is their parents' wealth. By very far. The vast majority of wealth is generational. But even if you believe in upward mobility, the point is that needs to happen first before you possibly have time, energy, and money to devote to your passions. It's not backward; if you'd argue "no, succeeding in your passions is what enables upward mobility", then you (A) are thinking of a very small subset of highly marketable passions, and (B) have identified the catch-22 that makes upward mobility so uncommon.
- LordNerevar76 2y ago
  Do you happen to have any studies to back this up? It makes sense that parental wealth would be one of the strongest predictors of wealth, but I know of at least one study that has demonstrated that 79% of millionaires did not receive any inheritance from their parents. Source: https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research https://www.ramseysolutions.com/retirement/the-national-stud...
  - feoren 2y ago
    This Georgetown report is a good place to start, they aggregate findings from a lot of different studies: https://cew.georgetown.edu/cew-reports/schooled2lose/ https://cew.georgetown.edu/cew-reports/schooled2lose/
  - Jiocus 2y ago
    The prediction does not hinge on inheritance (most folks manage to start their own lives, careers and families well before their parents pass), but on the upbringing, milieu and economic as well as social capital available. "You're likely to stay in the social class you were born into" - is basically what the predictor means.
- shepherdjerred 2y ago
  You're right and I agree with what you're saying here.