If 100 homeless people were given $750 per month for a year, no questions asked, what would they spend it on?
That question was at the core of a controlled study conducted by a San Francisco-based nonprofit and the USC Suzanne Dworak-Peck School of Social Work.
The results were so promising that the researchers decided to publish results after only six months. The answer: food, 36.6%; housing, 19.5%; transportation, 12.7%; clothing, 11.5%; and healthcare, 6.2%, leaving only 13.6% uncategorized.
Those who got the stipend were less likely to be unsheltered after six months and able to meet more of their basic needs than a control group that got no money, and half as likely as the control group to have an episode of being unsheltered.
If you are mentally ill or had a streak of bad luck, it’s your own fault. Be smart and get born rich like almost every rich person does. My God why are people so stupid?
/s
Whoa there rich people were born the same way we were. They followed a simple 7 step plan.
See rich people work hard to get rich.
The overwhelming majority of people who inherit wealth lose said wealth within 3 generations.
70% by the second generation and 90% by the third
https://www.nasdaq.com/articles/generational-wealth%3A-why-do-70-of-families-lose-their-wealth-in-the-2nd-generation-2018-10#:~:text=The only thing they know,lose it by the third.
That article didn’t seem to cite any studies or data and reads like an ad for something.
Wikipedia has a few good paragraphs with citations: https://en.wikipedia.org/wiki/Economic_mobility#Intergenerational_mobility Most relevant:
Almost like money doesn’t equal ability.