24/7 Insights

• Being poor might not be ideal, but it does have some advantages of being rich and famous. 
• The rich and famous worry about constant scrutiny instead of their next car payment.
• Those who are poor want to be rich, and those who are rich sometimes hope to be less famous. 
• Also: 2 Dividend Legends to Hold Forever

When it comes to the lifestyles of the rich and famous, there is a certain expectation about being in this situation. This includes but is not limited to being unable to go out in public without being photographed or hounded for autographs. For those without access to money and fame, there may be an easier road to a happier life, but it comes at the cost of not having a similar level of opportunity to do many things someone with money can do. 

Where Poor People Can Go

While a poor person would never say they are advantaged, one of the “advantages” of being poor is that you can freely go places. The rich and famous cannot do this, while someone less fortunate can go to the movies, a fast food restaurant, or simply walk around town. Imagine for a moment that Lebron James or Taylor Swift are trying to walk down the street. It would instantly become a mob scene of fans and phones trying to get a look. The police would be called to keep order, and the situation would likely become chaotic. 

For someone without money, none of this is a part of your reality. Instead, you can go to an affordable fast-food restaurant and eat without the fear of being constantly interrupted. Unfortunately, as someone without money, you’re likely eating at a fast food restaurant because it’s what’s affordable. This is the opposite of someone with money who may regularly enjoy five-star dinners. However, for those without money, going to a movie, a shopping mall, riding public transportation, or even taking your kids to school are everyday tasks you can do without interruption. None of these are simple tasks for those with money, privilege, and a life of fame.  

When you’re rich and famous, posting on social media, even something as benign as your most recent shopping trip, can come across as out of touch. For someone without money, posting on social media can be an escape, but without the international scrutiny. Another “advantage” is that when you’re poor, you know your friendships are real and full of honesty. When you’re rich and famous, friendships could be based on convenience, access, or the ability to be near money, fame, and power. 

Ultimately, it all comes down to poor people having far more freedom to go where they want and do what they want with whomever they want. Sadly, poor people aren’t doing as much or going as far as someone with money. 

Being Poor Isn’t Easy

So far, it might sound like being poor has some advantages, as you can go out in public unbothered and enjoy life. The challenge here is that being poor almost definitely means your life isn’t easy. On the contrary, it’s downright challenging, and you can feel like the walls are closing in. 

At some point, having money can make your life easier. This doesn’t mean it improves your life but can improve your overall quality of life. Not having to think about where your next car or mortgage payment will come from is an incredible frame of mind to have. 

Ultimately, you have to consider that all of the benefits of having money come with downsides. For many reasons, being poor or less well-off can bring incredible unhappiness. Going back to the same example I mentioned earlier, the rich and famous can go to dinner anywhere they want, even if a crowd follows. For the less well-off, going out to dinner, even fast food, can sometimes be a luxury. This is a real mental blow when you are forced to reconcile the idea that eating at McDonald’s once a month may be considered a luxury. 

Choosing a Simpler Life

One consideration for the rich and famous is to give up this life and return to normalcy, something multiple actors have done. Rick Moranis, Cameron Diaz, and Daniel Day-Lewis are a few examples of those individuals who walked away at the height of their fame. Known the world over, these three members of the rich and famous club took their wealth and left everything the world knew about them behind. 

Someone who doesn’t have the same means as these three actors can’t choose to be rich. However, the reverse is true. Rick Moranis left acting and chose a simpler life raising his children, as he had the means to not work and not worry about his next mortgage payment. A poor person can’t wake up and decide that today is the day they will make a lot of money. It just doesn’t work like that in the real world. 

 

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.