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Society & Politics

Why does poverty tend to run through generations?

Anonymous
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Why does poverty tend to run through generations?
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  • WindAtMyBack
    WindAtMyBack Follow
    Master Age: 69 , mho 60%
    +1 y
    2.9K opinions shared on Society & Politics topic.

    I have traveled the US extensively by land. I've made stops in hundreds of cities to get a bite to eat. Something I have noticed very consistently are the employees at fast food places and other minimum wage type businesses. The employees in poorer urban areas have really bad attitudes. While the employees in the suburbs and rural areas have much better attitudes. The difference is VERY obvious and consistent.

    You'd think it would be the other way around, since the people in the urban areas have more need of money. But it's the kids who grew up middle class who have the best attitudes and are the best workers.

    The people in urban areas believe they are in dead end jobs. They believe the odds are against them. They hate having to work.

    The people in the suburbs know what it takes to get somewhere. They know it takes hard work and good attitude. They know that it works. That doesn't make it a dead end job. It makes it a stepping stone.

    There is always debate about nature vs nurture. The above is nurture. I think there is also a genetic component. For example intelligence has a genetic component. Intelligence breeds intelligence. Add to that the nurture, that some parents place more value on education and hard work. They bring their kids up that way.

    Genetics is also a component in skill, and probably personality, both of which can be a factor in success.

    It simply gets passed down from parent to child - a combination of nature and nurture.

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  • abc3643
    abc3643 Follow
    Master Age: 63 , mho 38%
    +1 y
    5.7K opinions shared on Society & Politics topic.

    My real answer would be given using mathematics and understanding what a nonlinear system is and what a separatrix is. But, that would be very abstract. So, I'll try to explain it like this...

    In short, the less wealth you have, the less ability you have to generate more wealth. You have less connections with wealthy people.
    You have less opportunities available to you.
    You have more bigotries against you.

    In short, you have to work that much harder - IF you have an opportunity to do so - just get to the same position as others who did not have to work so hard.

    Now, I want to be clear that life isn't fair and whining about it doesn't help. And working harder MAY help but there's no guarantee of that.

    Furthermore, unfortunately, all too often those in poverty may commit crimes because it is just so much easier to get by than having to work just to survive and not make any ground. But, not getting away with it and spending time in prison just sets you and your family back to Square One regarding poverty.

    By the way, you might want to learn about Warren Buffett's "Ovarian Lottery" concept.

    I know that some people are going to say things like "values" but values only take you so far. There's a good deal of luck involved including the luck of being in the majority so you don't have bigotries against you that can adversely impact you.

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  • purplepoppy
    purplepoppy Follow
    Master Age: 26 , mho 55%
    +1 y
    6.8K opinions shared on Society & Politics topic.

    Take car insurance as an example, it will be several times higher if you live in a poor neighbourhood. Then costs like travelling to work and household bills take up a greater percentage of your income. The school you went to will probably be crap and even if you get good grades and do a training course many employers won't touch you with a barge pole because of your postcode.

    0
    3 Reply
    • Anonymous
      Asker
      +1 y

      I grew up under poverty. Got out of it by my late 20s

      Reply
    • purplepoppy
      purplepoppy
      +1 y

      Good. Some do, most don't. Unfortunately too many listen to their parents rather than those who can help.

      Reply
    • Anonymous
      Asker
      +1 y

      the only way to get out of poverty is to stop pitying yourself and start working on yourself.
      the more you think you make excuses that you should poor, the more you will stay poor.

      Reply
  • menina
    menina Follow
    Master Age: 34 , mho 49%
    +1 y
    5.2K opinions shared on Society & Politics topic.

    Because it's hard to break the cycle. Besides, people are judged for being poor and they don't have many opportunities.

    0
    2 Reply
    • Anonymous
      Asker
      +1 y

      Thats not true. There is the reason why people call america the land of opportunity. Why so you think so many immigrants want to come to america? There's opportunity!

      Reply
    • menina
      menina
      +1 y

      Oh, ok. I thought you were talking about poverty in general, not specifically about poverty in the United States.
      I'm not from the US, I'm not there so I can't comment on what you just said.

      Reply
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  • Jersey2
    Jersey2 Follow
    Guru Age: 109
    +1 y
    2.8K opinions shared on Society & Politics topic.

    Its caused by a failure of the parents to teach their children and sacrifice for them. Poor people will come to this country this year and will be successful as will their children. They just didn’t have opportunity. Other families that have been here for generations will still be poor because they don’t have values.

    1
    1 Reply
    • Anonymous
      Asker
      +1 y

      wrong values... absolutely... you're the only one with the real answer

      Reply
  • Unit1
    Unit1 Follow
    Master Age: 31
    +1 y
    2.4K opinions shared on Society & Politics topic.

    Kids see what their poor parents do and repeat after them.

    Or they don't explore the parts of society, that separates the rich and the poor. Nor do they do the things the rich do VS the poor. They do not make the necessary sacrifices to get out of poverty like I did or the rich did.

    It took me a long time to break out of that cycle for myself. I'm not going back there. My life is wasted either way but at least now it's a comfortable life.

    0
    16 Reply
    • Anonymous
      Asker
      +1 y

      Thank you. I agree with you. The poor people are poor because they hold different values compared to the rich

      Reply
    • Unit1
      Unit1
      +1 y

      It's much more than that. I had the devotion and I still have.

      At the age of 10 when internet was booming I spent a very long time searching online "how to get rich", "how to make money", "how to double my money" and all that. 95% of the content I encountered should be removed, really. They all say the same crap like "save more, spend less, work hard, get a degree" yadda yadda. These things are the things, that keep the poor poor.

      It wasn't until this year in April when I saw an ad "multiply your money the easy way automatically", that brought me to trading with real money. I am still kind of mad why have I not encountered this many years ago.

      While people watch TV, YT, Netflix, memes, politics, movies, whatever? I watch charts, financial education, trading stuff, investment opportunities.

      While people talk about yoga, politics, religion, boars, zodiac signs, endless army stories? I talk about money, business, investment ideas, opportunities, side hustles I can start doing.

      I can't enjoy life being poor. I don't enjoy TV, politics, memes, yoga, religion, endless army stories. I enjoy things, that unfortunately can't be free.

      Reply
    • Anonymous
      Asker
      +1 y

      Most poor people don't even go to school. Vast majority of them dont have degrees.

      Reply
    • Unit1
      Unit1
      +1 y

      They don't need a degree either. If they learn the proper trades, they'll be set for life.

      Reply
    • Anonymous
      Asker
      +1 y

      @unit1

      vast majority of poor people don't do trade work. they're unskilled, uneducated clueless idiots who work a mcdonalds.

      Reply
    • Unit1
      Unit1
      +1 y

      I believe the vast majority of poor people aren't devoted to crawl out of poverty. The costs are too great to commit to it. Just ask me. I saw it first hand how they spend their time and life.

      Reply
    • Anonymous
      Asker
      +1 y

      costs? even middle class people pull out huge loans to attend college. doctors pulling out 300k in loans for medical school.
      YET, you're talking about poor people too poor to pull out loans to attend trade school?
      lets face it, poor people are poor cuz they don't want to work hard.

      you talking about double your money... you need surplus money to "double your money". you can't double your money if you don't have any money

      Reply
    • Unit1
      Unit1
      +1 y

      Yeah. They will have to make sacrifices instead of expenses to have surplus in order to double their money and then do it again and again. And to not have any kids.

      Reply
    • Anonymous
      Asker
      +1 y

      are you a trader?

      Reply
    • Unit1
      Unit1
      +1 y

      I do swing trading, yes.

      Reply
    • Anonymous
      Asker
      +1 y

      what resources did you learn from that you found most helpful?

      Reply
    • Unit1
      Unit1
      +1 y

      If you ask me with all honesty? Trial and error (which means losing money and learning in the first few months). I have even paid for trading courses and have been getting involved in their trading callouts, that these supposedly rich traders are doing, that show off their apartments in Miami and drive Porsche.

      Turns out I am a better trader than they are. Not only do they do trading callouts like 1-2 times per month but they also end up losing money from their trades fairly often.

      I get the feeling, that many trader tutors overcomplicate trading and charts.
      I have lost 6000 EUR in trading in total (each time I deposited between 300-500 EUR, so I don't go all in each time) but I also turned 300 USD into 3300 USD from June to Today and 500 EUR to 2600 EUR in the same time period, so I am approaching the breakeven point.

      The worst are those financial advisors. They have costed my portfolio a lot of money and brought it from 3500 EUR (which used to be just 500 EUR when I deposited) down to 750 EUR just because I listened to their strongly opinionated trading ideas while telling me "nah, your risk is fine".

      So you see, it's a whole investment and process to commit to way beyond just loading up real money. Trial and error. The poor have none of which it takes.

      I've been trading for 6 months only and you can expect to take it as much time.

      Reply
    • Anonymous
      Asker
      +1 y

      I live in the US and there are just so many trading courses out there, including rip off ones on youtube. I just don't even know where to begin. I'm looking for a course that has everything I need to know packed all in once place.

      did you paper trade prior to trading with real money?

      Reply
    • Anonymous
      Asker
      +1 y

      All these trading courses seem to be just wanting money. I just don't know which ones are a rip off.

      Reply
    • Unit1
      Unit1
      +1 y

      I did paper trading for 1 day just to see what button does what and how my money changes with the charts. Beyond that paper trading has no further use in my opinion.

      You are right to say that these trading courses are (mostly) a rip off. I had to find out for myself to confirm that. The one I took does teach some trading setups but even those setups don't really increase your odds of making profit. They just show charts and possible trading ideas for profits. Keyword here is POSSIBLE.

      So long you can read charts and can identify support levels and resistance levels (and maybe some moving averages lines), that's basically all you need to know to start making guesses. Even traders with 6 years of experience, who use metrics and news and all that lose a lot of money.

      Youtube and the internet is full of that bluff with trading lessons and courses. You'd be wasting time and sometimes wish you forgot their content.

      Reply
    • Unit1
      Unit1
      +1 y

      I made my money by developing my own trading strategy and plan and choosing the right instruments to trade with and managing my risks. It's different for everyone. When I applied someone elses trading (fill in the blank) I lost more money than with my own freestyle trading style.

      Trial and error is your best guess. What are you hoping a trading course would teach you?

      Reply
  • Anonymous
    Anonymous
    (36-45)
    +1 y

    Because it’s far easier to lose money than accumulate it.

    I laugh whenever I hear about so-called success stories who “made it on their own.”

    They usually had family who gave them several thousand dollars to get their business going.

    Meanwhile something as simple as a car accident, repairs, or some out of the blue fee can really, really set someone back who is already struggling and barely keeping their head above water.

    3
    0 Reply
  • AmeerX
    AmeerX Follow
    Guru Age: 33
    +1 y

    Because people live in same pattern as their parents, never trying to change themselves or the way they are. And circumstances play a big role in this as well. Like, problems my father faced, I am also facing. And my grandparents also had same habits and it wasn't easy. Things have improved overtime but not much if you ask me:).

    0
    0 Reply
  • NaultD
    NaultD Follow
    Guru Age: 33 , mho 43%
    +1 y
    5.8K opinions shared on Society & Politics topic.

    It's 100x more expensive being broke. At the same time you'll get years worth of free stuff being a millionaire.

    1
    0 Reply
  • FunkyMonkee
    FunkyMonkee Follow
    Master Age: 59
    +1 y
    8.7K opinions shared on Society & Politics topic.

    It does? As far as I know, dad's parents were rich! Dad wasn't rich but got by, pretty well. I've never been rich and have been poor most of my life.

    0
    0 Reply
  • Anonymous
    Anonymous
    (25-29)
    +1 y

    Because poor people carry on being poor, they have a chip on their shoulder that they leave to their kids about how *because they don't have any* money is evil and so on

    1
    0 Reply
  • Anonymous
    Anonymous
    (30-35)
    +1 y
    https://www.youtube.com/embed/nBFYQu1ZYD0

    This might help

    0
    0 Reply
  • jahaims
    jahaims Follow
    Master Age: 34
    +1 y
    4.5K opinions shared on Society & Politics topic.

    People in poverty on average have less opportunities/education

    0
    0 Reply
  • OddBeMe
    OddBeMe Follow
    Master Age: 42
    +1 y
    18.6K opinions shared on Society & Politics topic.

    Because children benefit from their parents wealth.

    0
    0 Reply
  • exitseven
    exitseven Follow
    Master Age: 55
    +1 y
    27.1K opinions shared on Society & Politics topic.

    It is genetic.

    0
    0 Reply
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Why does poverty exist?

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