[_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.