[imtringued]

The point is that you don't have to "avoid the problem" if you are rich. You'll do better despite your failures.

Meanwhile when someone is poor they are expected to have zero failures in judgment and the poor generally have better judgment but when they do have a lapse the effects are catastrophical.

[_nrv9]

>Meanwhile when someone is poor they are expected to have zero failures in judgment and the poor generally have better judgment but when they do have a lapse the effects are catastrophic

You are 100% right.

And to respond to the other commenter -- the first guy didn't have much in savings because he was sending money back to his parents.

That's how bad it is. When you are born into wealth, there's a sort of "rubber band" helping you move up the ladder. When you are born into poverty, that rubber band pulls you down instead of propelling you up.

I can speak to this myself, I have helped my parents/family enormously at cost to my financial wellbeing.

And by the way....when a son/daughter does well, gets into software, makes a healthy $150k salary in SV, that does not change the financials at home. That $150k salary has to keep coming and you have to keep giving it to your family to make a real difference over time. At the same time, you have to pay SV rent, you have to buy a car, go on dates with your significant other, have a life of your own, etc.