#intergenerational wealth

[jacks-weird-world]

The more I hear him talk about when he was younger in high school, the more I think he made his way through all of his college and law/business school years by money and connections. Cause like wdym you were bad at school but got into an Ivy, then went to Harvard Law and Business?? Also saw someone on Reddit say they had a zoom Law class with him during quarantine and it was obvious that he was always laying down or watching tv. I do believe he’s very intelligent (some people are really smart and are just “bad” at school) but some things he says about his high school and college life don’t make sense. I wanna know what YOU think though. Did he use his name to get into Yale? Pay someone to do his work?

Thanks, fairy ×🎓×

Academic education has a different weight for the bourgeoisie! Knowledge is power, and power is control! The working class studies with the goal of social advancement; and the elite, to stay at the top!

So it's naive to think that just having good grades helped him enter these spaces. There are large donations too! And of course, his name adds symbolic value to universities. Is he intelligent? YES! Does he have merit? ALSO! But we know that wealthy children also have access to 'College admissions coaches'. What does this mean? That he was built, polished, trained — with heavy financial investment.

I think there are two interesting points in the interview : the tone of frustration with which he speaks, especially about not being "popular" or the girls' "favorite boy"; and the fact that wasn't perceived and validated in the way he expected of someone of his lineage would naturally be. In both cases, these are unresolved issues, and I think he tries to compensate for them in adulthood.

🎓I made this little board to illustrate how silent privilege is constructed. This isn't about competence or effort, but about access and inspirational wealth:

🎓Kennedy's response was: "The reasons that I have for wishing to go to Harvard are several. I feel that Harvard can give me a better background and a better liberal education than any other university."

✨It's Harvard, but it's also KENNEDY!✨

🎓There are many types of intelligence. Your uncle wasn't academically brilliant either; But he was PERSISTENT just like your father.

[dontmean2bepoliticalbut]

[serenata-your-neighborhood-lefty]

~Weekly reminder that the existence of billionaires is a policy failure~

[serenata-your-neighborhood-lefty]

YouTube video in 10 years time: “I’m a *~self-made~* millionaire at 18”

[alanshemper]

Cat and Girl been knocking them out of the park recently

[profkew]

Here's one reason why America's racial wealth gap persists across generations

A new poll finds white adults are more than twice as likely as others to get sizable financial help from parents or grandparents. By contras

"White adults are more than twice as likely as Black and Latino households to get sizable financial help from parents or other elders. That's according to a new poll by NPR, the Robert Wood Johnson Foundation, and the Harvard T.H. Chan School of Public Health."

"The new poll finds 38% of white adults say they've gotten at least $10,000 in gifts or loans from a parent or older relative. Only 14% of Black adults receive similar gifts or loans. The share is 16% for Latinos and 19% for Native Americans.

Dorothy Brown [author of The Whiteness of Wealth: How the Tax System Impoverishes Black Americans — And How We Can Fix It] says this divide reflects generations of segregation and racism, especially in housing policies. Racially restrictive covenants barred white people from selling or renting their homes to African Americans or other minority groups. And Federal Housing Administration policies supported such restrictions."

[mtsu4u]

[investingforbbs]

hiya!!

I'm very interested in financial independence and security. I've signed up to take an EdX class on investing, and I thought I'd share what I learn here in the hopes that it helps someone else!

Intergenerational wealth (wealth passed through family) is the #1 way that groups of people stay 'rich' or 'poor', so I'm really interested in spreading knowledge so that all people can work the markets to benefit them best!

(^source for the above, among many others you can find by googling 'intergenerational wealth mobility' <3 )

Let me know if there are resources you know of that I can use to learn more!! (my first resource would 100% be @bitchesgetriches. absolutely in love with their content and so grateful to everything they do.)