Access to wealth is a privileged convenience

28th, January 2022.

I happen to come across an interview on CNBC Squawk Box, Lemonade Stand founder J.D. Vance stated, “If you have access to wealth, it’s a privileged convenience.”

Lots of people received the statement with criticism, due to wealth being a fundamental part of American society. In other words, most Americans hope to become wealthy and believe it is achievable through hard work and determination.

The quote also implies that those without access to wealth either do not wish to achieve it or do not value its benefits.

A privileged convenience is an understatement for the struggles beyond materialism that those without access to wealth face daily.

Common struggles from lack of access to wealth include: poor health outcomes (hypertension, diabetes, and heart disease), higher incidence of depression and anxiety disorders, lower levels of educational attainment, lower levels of life satisfaction, decreased sense of community belonging and political efficacy, and increased likelihood of living in poverty and crime-ridden neighborhoods.

It is a privilege to be born into wealth and have the ability to create money through your own access to financial security and stability, something that many can only dream of.

A very privileged convenience is being able to work hard, get an amazing job and then pay someone else to manage your wealth for you. Managing a portfolio is a luxury that only the wealthy can afford and something the rest of us will never know.

A luxury is being able to choose which stocks to buy, when to buy and sell them, etc... not having volatility in your portfolio is an incredible luxury that very few people in this world can experience.

Once again, I don't advocate wealth. I just believe that we need to acknowledge our privileges and understand the inequality in our world firsthand so that we can take steps to fix it.

For those who do not enjoy the convenience of access to wealth, they rely on other mechanisms of support to advance their entrepreneurial ventures. With the same technology, you can use to access your account, pay your bills and make purchases, you can also raise funds for your business.

The key to raising funds is to learn about the platforms that exist and be careful about who you give your hard earned money. Each platform and website has a different set of requirements that you must meet before your campaign can be listed.

As an online business owner, you can raise funds directly from the people who support your vision. It is recommended that before you start any type of marketing or advertising campaigns online, you confirm your legal ability to operate as a business owner within your state. Also, you should consult with a tax professional to determine if there are any income, sales or property tax laws regarding charitable donations and promotions for your business.

Access to wealth is a privileged convenience.

The following are advantages of having wealth (money, things, freedom to do more with one's life than one could without it) that many poor people may not have. The list is by no means exhaustive and I'm sure there are more factors in play. Unfortunately, these advantages are often confused as privileges just because they're something that most rich people have and most poor people don't.

The idea of having access to wealth has become a privilege convenience. Wealth and prosperity are some of the most grand ideas we hold on to, yet, many don't have access to this very basic need and resource. There's a major issue with this cultural norm, and it's ultimately shifting the balance of power.