Rich always have the advantage of better nutrition, information and resources (if parents don't have time, they hire tutors). Is it truly a genetic advantage or a socio-economic advantage? Is there a good way to hold all other variables as a constant in this study?
Rich parents also are more likely to show their kids how to handle money and get rich. See the book "Rich Dad Poor Dad" by Kiyosaki.
Edit: Teaching kids how to manage money, the time value of money, the basics of running a business, how markets work, etc., is painfully neglected by the schools. Young adults often have little knowledge of this, and it definitely puts them at a serious disadvantage.
Thanks for the info, I didn't know that about him.
I've read his book, and the fundamental idea of looking at money differently is sound. I know I look at money very differently now than I did when I was young. I.e. I view it now as a tool rather than a scorecard.
I rather believe in the "God can draw a straight line with a crooked stick" principle, so it's quite possible his advice is good, or at least part of it. Just figured it'd be good to know this about him.
