A discussion to express your views and perspectives on the future economic fear between two class of people in the society, the rich and the poor.
-I have often heard that there's an even greater fear with getting money, who do you think has more fear about the future?
(A) The Rich man who has tasted the good things of life and enjoying the best, now he has to face the fear of the possibility of suddenly loosing all he possesses and becoming poor? Or
(B) The poor man who has not enjoyed anything in life yet, just surviving and facing the fear of an unknown future, thinking if he is ever going to be in a better position or the suffering is going to continue?
It depends how you're defining "Rich" in this scenario. If we're talking about people with a few million, then they have to make some extremely serious mistakes in order to lose their money. Most people with that sort of money can just plow excess cash into index funds and live off the dividends for the rest of their lives. Over time the value of the shares in those index funds will rise and they will also receive steady dividend payments which can cover their living expenses. Unless they do something extremely dumb like put all their money into one property, fail to buy insurance and see it burn down - that sort of thing is the only way they could lose most of their money in one go. Yes they may fear being poor, but the reality is that will not happen if they have just a tiny bit of sense.