Having A Rich Family Doesn’t Make You Rich

How the millennials from the upper-middle-class are struggling to make money — 6 reasons why this is happening

Photo by Austin Distel on Unsplash

I grow-up in Brazil, and although my parents weren’t upper-middle-class, I went to a school where most students came from an upper-middle-class family. They weren’t ultra-rich, but they were rich. It’s hard to define what upper-class and upper-middle-class are, but to keep it simple, in this article, I am considering that the upper-class can afford to buy an aeroplane and the upper-middle-class can’t. Simple.

At the same time, I have one family member that is also upper-middle-class. He started a business before the Chinese takeover, and he made lots of money. The strong days of The Brazilian Industry and Made in Brazil label. He bought many properties with all this money, and the gossipers say that he even did some illegal stuff. Anyway, now he lives off passive income, primarily rents, and drives a car that costs the same as a two-bedroom flat in a good neighbourhood in Brazil.

I am still in touch with some of the people I went to school with, most of whom aren’t rich. And the kids of this family member aren’t also rich. Because having a rich family doesn’t automatically make you rich. Ok, these people will probably inherit all this…