Does anyone here have parents that don't want you to be rich?

[familybiz]

It sounds crazy as by logic all parents will want their kids to be rich and successful. But then again it's not as crazy as it sounds because some parents still want a sense of power and ego. Usually, these parents are just average income earners and still working and has old school rigid thinking. If their kid suddenly becomes much richer than them it reflects bad on them. Its like sibling rivalry, if your sister/brother becomes rich, you may secretly feel jealous or hate them even. But in this case it is parent-children, which is more exacerbated due to the fact they have say 3 decades of life more than you and by all logic should be way richer and wiser.

Not exactly to that extent but I have parents who do not seem to understand that proper financial management is beyond just keeping expenses low and putting all the money into a bank.

Even if I am in the financial industry, earns way more than them and had 7 plus years of investing, they still nag and constantly look down upon me investing my money or spending it on anything other than food.

I think it ultimately just boils down to what kind of financial literacy level one has. I don't expect my parents to ever understand anything financially complex but I hope that one day, they can view the differences in financial management style between them and me as just differences.

Originally Posted by familybiz

It sounds crazy as by logic all parents will want their kids to be rich and successful. But then again it's not as crazy as it sounds because some parents still want a sense of power and ego. Usually, these parents are just average income earners and still working and has old school rigid thinking. If their kid suddenly becomes much richer than them it reflects bad on them. Its like sibling rivalry, if your sister/brother becomes rich, you may secretly feel jealous or hate them even. But in this case it is parent-children, which is more exacerbated due to the fact they have say 3 decades of life more than you and by all logic should be way richer and wiser.

Unless you are able to provide more context on what your plan is to get rich, it really depends.

Is your plan to become rich by leveraging everything you own into penny stocks / crypto / latest wallstreetbets regarded flavour of the day?