The Truth About Millennial Money - Deepstash

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Why Does It Feel Like Everyone Has More Money Than You?

The Truth About Millennial Money

  • It’s important to share your real struggles, support and fundings once you find success, or it gives a distorted and false impression to those struggling without any resources. There shouldn’t be a stigma attached to getting help from parents and spouses.
  • It’s imperative to have transparency about money and understand that in any structure of privilege, the people at the top have to take into account what it means to people below them, who are struggling with meagre resources or a network of supporters.

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SIMILAR ARTICLES & IDEAS:

"Rich Dad, Poor Dad" is Fiction

John T. Reed, a real estate investor, looked into the accuracy of Kiyosaki's best-selling book and found it inaccurate:

  • The Rich Dad is most likely an invention. ...
"Rich Dad, Poor Dad" contains dangerous advice

According to John T. Reed the famous book is filled with bad advice:

Dangerous advice

  • "If you're gonna go broke, go broke big"
  • Convinces people that college is for suckers

Law-breaking advice

  • Advocates committing a felony: have rich friends for trading stock based on non-public inside information, he says "That's what friends are for."
  • Recommends tax fraud by deducting vacations and health club dues
  • Brags about using a partner weasel clause in which his cat is his partner
Kiyosaki is making money from a personality cult

Many critics pointed out that Kiyosaki is selling a cult, not financial advice.

He is accused of tapping into the fantasies of the masses & being short on specifics, both attributes of religious cults.

Impostor syndrome

The impostor syndrome is the sense that our accomplishments are in some way underserved, no matter how consistent the evidence is to the contrary.

Impostor syndrome is an epidemic

There are several reasons why the impostor syndrome seems to have become an epidemic.

  • We have given the phenomenon a name.
  • Our preoccupation with it is the result of profound social change. Many people work in the service economy, where we create impressions rather than tangible items. 
  • Professional life today leaves us straining to redefine ourselves; we sometimes promise things we don't yet know how to do. 
  • We are no longer born into a role.
  • We can constantly compare our experiences to those of others online.
  • We can create an outward persona we know to be untrue.
The paradox of being an impostor

In order for you to believe in yourself, you need to convince someone else to believe in you. Once they believe in you, you feel more confident to believe in yourself.

When you're an impostor, you expect to be exposed at any time. You feel that at some point, someone might appear and see you for the fraud you think you are.

The two tales about houses

The one story we tell ourselves about homeownership is it is a path to a more stable, equitable future. The idea is that it is a responsible decision that requires commitment and hope. It is center...

Owning a suburban home

The idea of owning a suburban home was fed to Americans by people in power: Suburbia has always been suitable for industry.

Big houses = big appliances. This fed the coal, steel, and automaking industries. With it came cars and oil that made the postwar American suburb possible. It is all as much a creature of government as of the market.

Reconsidering the suburban house 

The climate crisis and carbon dependency make potential homeowners reconsider the effects of suburban sprawl.

The September 11, 2001, terrorist attack and the market crash of 2008 sowed a sense of instability and propagated fears.