If you are a millennial or Gen Z and you have even just upper middle class parents, then you’re about to receive one of the largest wealth transfers in American history
So in that case - hard work absolutely does not lead to economic gains.
Inheritances do.
What if you’re not.
Nothing is guaranteed but trying leads to more success than not trying does, I bet.
Just put your head down and grind.
Luck, or fortune favors the prepared , the bold, brave, strong and prepared.
Luck = preparation + opportunity
The you probably aren’t going to receive any sort of inheritance anytime soon
I would say: opportunity = luck + preparation
rather than your formula
But the actual formula is: success = luck + timing
Regardless, success is subjective
No…those that appear “lucky” to the outside have their ducks in a row when opportunity pops up so they can jump on it
Except for those who inherit millions. That’s not what I call hard work.
“Pulling yourself up by your bootstraps” in the U.S. is more of a cultural myth than a universal reality. The phrase originally was a joke, it described something impossible, like literally lifting yourself off the ground by tugging on your own boots. Over time, it shifted into a story about self-reliance and hard work leading to success.
Their parents were prepared.
They didn’t blow their money on hookers and cocaine…they were focused in passing down generational wealth
They probably didn’t pass down generational wealth because they went to UH instead of a traditional school
The point wasn’t about the parents.
Genetic lottery
Gee.
Really???
To me hard work was always a good formula for success.
Then again….it’s just as important to work SMART, as well as hard.
You’re missing the point of the article. it is not about working harder or smarter it’s about economic gain.
A new Wall Street Journal-NORC poll finds that the share of people who say they have a good chance of improving their standard of living fell to 25%, a record low in surveys dating to 1987. More than three-quarters said they lack confidence that life for the next generation will be better than their own, the poll found.
Nearly 70% of people said they believe the American dream—that if you work hard, you will get ahead—no longer holds true or never did, the highest level in nearly 15 years of surveys.
Generational wealth is a real thing; I know trust fund people (no longer kids) who do almost no work and live off the success of their parents or grandparents and just happen to have really good financial planning.
The average american see the system, including the tax system, that is gamed against them and they see a bleak future.
Sure some get lucky and see a jump in economic gain but the average american is just a layoff or major health issue away from losing it all.
Again, can’t speak for them, but my income has always risen throughout my professional life, together with my standard of living.