QOTD: Where have all the self-mades gone?

According to a 2013 survey by U.S Trust, around a third of Baby Boomers worth more than $3 million claim to have grown up in a lower middle class home, versus 18 percent of Generation Xers, and 12 percent of Millennials. Why the change? In our increasingly class stratified society, it takes money to make money—frugal habits be damned. Even Mitt Romney suggested youngsters on the make turn to mom and dad for the funds to start a business. People who have taken that advice include Jimmy John Liautaud, the founder of Jimmy John’s, and Steve Ells, the man behind Chipotle.

Helaine Olen is my favorite personal finance writer and has become known for her own great book and for debunking all kinds of informercial-esque claptrap from some of her contemporaries in the field (you know their names).

In a new post at Baffler, she talks about the death of the Millionaire Next Door archetype, who is pretty much vanishing into extinction in the current age of Pikettyism and mass inequality. Click over a the link above to read more on the topic.

 

What's been said:

Discussions found on the web
  1. Alex Webcams commented on Oct 07

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  2. orangeville real estate agents commented on Oct 16

    … [Trackback]

    […] There you can find 4596 additional Information to that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  3. DevOps as a Service commented on Nov 05

    … [Trackback]

    […] There you can find 80315 more Info on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  4. scotiabank online banking commented on Nov 11

    … [Trackback]

    […] Here you can find 28947 additional Info to that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  5. Robotic Process Automation testing commented on Nov 12

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  6. replika hublot commented on Nov 25

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  7. Horse and Camels commented on Nov 26

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  8. Harold Jahn Edmonton commented on Nov 27

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  9. 뉴토끼 commented on Nov 29

    … [Trackback]

    […] Read More Information here on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  10. 토토사이트 commented on Dec 03

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  11. tangerine account log in commented on Jan 16

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  12. Saffron UK Female rider commented on Jan 22

    … [Trackback]

    […] Read More on on that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]

  13. CICD commented on Feb 07

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2015/03/09/qotd-where-have-all-the-self-mades-gone/ […]