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Maybe you studied overseas, or you got to go to Europe a few times. Or perhaps your parents helped you with your down payment for your car or house loan.
Safe to say, you may think your family is well-off, but you’re definitely not rich rich.
Not convinced? Here’s the truth about what life is really like for the socioeconomic elite:
1. Car
If you were lucky enough to have parents help you out with buying you a car, you’re still not rich. Okay, so maybe they got you a nice car like a Honda Civic. Nope, still not rich.
I know a girl who at the age of 18 owned two cars: one was a Volkswagen Beetle and the other was a Mini Cooper. She was wondering what to get for her 3rd car as her father had offered to buy her another. She also learned how to drive on a Porsche.
I’ve only ever stood next to cars like that. I’ve never even been in them.
2. House
So your parents may have contributed to your down payment for your house loan. Believe it or not, that does not make you rich.
Bea is in her 40s and her parents bought her a penthouse suite. Her parents had purchased homes for all of their children – even those who were now based overseas. Her father is a multimillionaire.
Yes, they never got loans. They were so rich that houses (and anything else they could ever want or need) were just purchased outright.
3. Job
If you’re lucky, you may have a decent paying job. Maybe you get paid something like RM8,000 a month.
That’s still nowhere near to affording the lifestyle of a Malaysian T20.
Bea has not worked in around 20 years. She doesn’t need to. She receives a five figure allowance from her father every month, which is more than enough to fund her lifestyle. She has children, but her parents pay for them to attend international schools. Her kids are sent to school in Lamborghinis and other fancy sports cars.
Matthew owns his own businesses in the US, where he now lives. He’s pretty successful, and his businesses bring him lots of income. His parents had given him the money to start his businesses, and helped fund all of his expenses while he waited for his businesses to turn a profit.
There’s also Rina, who became a CEO from a very young age. What she doesn’t mention is that her ridiculously rich father got her the job. Yet she posts on Instagram about how she received these opportunities because of her strong hustle game.
Let’s face it: people like us don’t get these opportunities.
4. Holidays
Maybe you were privileged to tour through Europe or the US once or twice. Yes, I’m going to say it again: you’re still not rich.
Anna’s parents are multimillionaires. She travels first class everywhere on her parents’ money. Have you ever paid with your own money to travel first class before? No, I’m not talking about work buying you a first class ticket, or being bumped up to first class out of luck.
I’m talking about first class being your normal when you travel.
5. Emigration
For many of us, we dream of emigrating out of Malaysia to some developed country. We work for years to do it, trying to get the right qualifications and certifications, scouring through visa requirements with a fine-toothed comb. Even then, we’re up against thousands of other Malaysians who have done the same things and with the same aspirations.
It’s not the same for the ultra rich.
Melody has settled in Australia with her family. Like Bea, she has not worked for decades thanks to her family’s money. Her husband does not work as well. Her parents bought them property there, which smoothes over the immigration process.
6. Trust fund babies
Bea has had millions of RM in her account for years. Of course, the money wasn’t generated by her, but she profits off of it. Due to the size of her account, she can easily live off the interest alone.
She and all of her siblings benefit from the extreme wealth of their parents in many ways – but the major one is that huge amounts of money create more money and opportunities.
Normal people just don’t have the access to that. Yes, no matter how hard we work.
You’re very likely not rich, just upper-middle class.
How many missed paychecks will it take till your family is homeless? Three months? Six? A year?
I’ve known families who earned what was classified as T20 salaries, but are not rich because it was only one person who was the main breadwinner. T20 is actually an inadequate descriptor, as you can earn RM20,000 a month but if you don’t come from wealth, you have to keep earning to maintain your lifestyle.
The real rich don’t have to keep working. It really is enough to just have lots of money. The only way a normal person can achieve the same status is through extreme luck, similar to winning the lottery.
Normal people have a lot more in common with the homeless than they do with the ultra rich.
For more stories like this, read: The Brutal Truth About Corruption In Malaysia Where The Rakyat Continue To Be Poor, Malaysian Income Inequality Is Getting Worse – What You Need To Know, and Is Your Favourite Local Small Business Taking Advantage Of Their Workers?.
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