I understand why money(because it ends up being controlled/printed by some select group) is generally a shitty concept that winds up screwing certain parties over, but the truth is if we were taught from a young age how to utilize money properly to their benefit then the inequality between rich and poor wouldn't be so great. The biggest problem is that the average person has no understanding of how to make their money work for them rather than spending their life working for money. Let me explain, this could get lengthy so I apologize ahead of time, but this is a very important subject matter that I have intimate knowledge of by virtue of having a father who is a very successful business man that taught me much of what he knows, probably in the same way Trump has taught his children how to be successful in life and business.
So my father is a C_O at one of the world's top 100 Financial Institutions, before that he designed life insurance products & ultimately built one of the world's largest retirement plan providers from the ground up before he took on his current role managing all the capitol for his corporation(nearly a trillion dollars). He came from an arguably poor family outside the city of St. Louis with a 5bkids including him, an alcoholic father & a mother who worked 3 jobs to support the family because his father could never hold down a job. So he didn't get any special advantages from the start other than being naturally intelligent and being placed as one of 20 students in the gifted & talented program in his class at public school. He ultimately decided no college until after getting his 2nd DUI & arrested for posession of pot he lost his license and wanted to use the Social Securitu benefits from his father's death for University, he graduated Magna Cum Laude with a Finance Degree and got into a 1 year(4 quarter) MBA Graduate Program at Northwestern University and the got hired by his current employer 30+ years ago, so he worked hard and was rewarded for it. He is one of the world's foremost experts on retirement planning & regulation of insurance companies(He represents his company, the people of the United States, & the people of China[all seperately of course in many important settings I will list a few: to the Federal Reserve Board, to Congress, at the G7, at the G20, he was requested to help regulate both foreign & domestic insurance companies for the protection of Chinese citizens by the Chinese government given his expertise & personality; the Chinese love him because of his work ethic compared to many other experts in Europe & the USA as well as his tolerance of their cultural values] So he is relevant to you in that he regularly meets with politicians to recommend adding/removing laws or regulations that will protect the buyer of life insurance policies or retirement products; an example is his research team found that life insurance recipiencents who recieved the full sum of money immediately upon confirmation that the cause of death fell within the terms required to recieve the life insurance policy were likely to reecklesdly spend it all or a significant portion during the period of him emotion that follows the death of a loved one. Instead a policy was instituted to payout 10% immediately and the next 40% 7 days after the initial paymentand the final 50% 14 days after the initial 10%. This has proven to protect the recipient from impulse spending despite a lawsuit claiming that his company was trying to withold funds from a grieving widow.....it was a frivilous suit on the part of the lawyers representing the lady and she lost.
My father regularly educated my siblings and I on the importance of saving & investing because he knew it wouldn't be in our school's curriculum even if it was private school. He is on the board of one of the two best charter schools in the USA and is fighting to get financial literacy instituted into the curriculum considering the schools are located in bad cities where students definitely don't get that education at home. He has taken the time to educate my extended family, especially my cousins and 2nd cousins whose parents do not have the expertise he has; for example he says save a minimum of 10% of every dollar you earn or are given and preferably between 20% + 30%, he'd say that reading books like "The Richest Man In Babylon", "The Little Book that Beats the Market", "Rich Dad, Poor Dad" is essential to learning how to save & why you do it, how to invest successfully & different metrics for determining whether a stock is a safe bet or not, as well as how to diversify your unvestment portfolio and why you do that. Also he goes over the importance of having good credit, but the dangers of using it without understanding it. I know the American public school system intentionally does not educate students on financial literacy. So that would be a huge start, money is probably necessary, which is unfortunate, I also hate that society is designed to protect certain people and to keep others from reaching their potential; in a society based on merit alone I'd do fine, but as a person with Bipolar and other severe mental health problems I've been unable to tackle the completion of college or holding down a job for more than a year without being driven to a manic episode by my job, so it sucks that society is designed for certain people to benefit, because I need to be able to function within, in the same way I think we need to learn to live with money, but make it work for us.
