Monday, May 31, 2010

Value of Money

Steven D. Hayworth, chief executive of Gibraltar Private Bank and Trust, is thrilled that his daughter will be working this summer at a women’s clothing store before heading to college in the fall. It is not the particular job that pleases Mr. Hayworth. Rather, he is hoping his daughter will make the connection between how much she earns each day and what that will buy.

Wealth Matters - Teaching the Value of Work to Children of Wealth - NYTimes.com

It seems so many of us can't make this connection: how much a productive person earn eachs day and what that will buy. The reason we can't make the connection is that, chances are, we are unproductive! In a country that guarantees unproductive government jobs and a private sector that relies mainly on expats to do the real work, it is very hard to really know what it is like to be productive and how much that earns you.

One of the comments, which I thought was interesting, on the above article says:

I have several friends raised in very wealthy families who have never found their way in life, because they didn't have to work. I wouldn't mind a very rich kid working in a volunteer capacity, as long as he or she had to show up in a workplace every day and accomplish certain real tasks--but that's the key. The slacking rich kids I know have never had to show up. It's true the money isn't going to be worth much to them; what's $8 an hour if you have millions in a trust fund? But success in any enterprise, from work to personal relationships, is connected tightly to the ability to show up and do a job carefully and well.

Teaching Wealthy Children the Value of Work - Bucks Blog - NYTimes.com

As a reality check think of how much maids (house help) make and what that gets them.. I guarantee you they are probably more useful and productive than 90% of the population!

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