The American Dream Still Exists…if you can inherit it

By Robertyu Sert

I’m in my 30’s and if not for inheritance bailing me out of my bad luck and poor life decisions in my 20’s and early 30's, I would be homeless or in public housing. Got two rental properties gifted to me and cash worth $650k all combined, which just a fraction of the total I will get.

Having a safety net helps cushion the blow of failure. Screwed up in life so many times.

Dropped out of college…first mistake. I just found it boring and too much work. I remember in my first semester as a freshman spending an entire weekend trying to re-write an essay to a ‘B’ level grade when in high school I got good marks. Although the other classes were not hard, I found it a waste of time and after high school got tired of people telling me what to do.

Six years after dropping out, I started an internet business that was initially successful but failed…second mistake. My second business, which involved social media marketing, was more successful but that also failed because the market became too saturated.

With the profits made from the businesses, lost $150k on a bad real estate deal...3rd mistake.

Lost even more money on a bad crypto currency investment….4th mistake. [I still own the crypto and have no plan to sell, because it’s not like I need the money.]

No job and no job experience…5th mistake.

I spent too much time working on my ultimately failed business and living with my parents in the comfort of their large homes than learning life skills or building a resume and getting job experience, but I guess never had any reason to.

Thankfully, my parents are much better at making and investing money than I am. They invested in real estate in the early 90’s in the Bay Area, before prices exploded. They also did well career-wise and very well in stock investments.

Currently I live between my apartment (the one I lost money on) and my parent’s home [the one closest to me. They have several]. My ‘job’ when not surfing the web or binging out on Netflix is just periodically looking at a spreadsheet seeing how much money parents have as it changes day by day with the market, as well as overseeing the stock accounts. Almost 2 years ago, consulted my dad to replace a foreign stock fund with the S&P 500, which worked out well. In return, I get a ‘consulting fee,’ which is just a fancy word for allowance. Nice work if you can get it. By any measure, this is the ‘American Dream’, although I did not earn it, rather i’m just living off my parent's dream, which will later become mine…

What about trying again. Why bother. The game of life is mostly rigged anyway. Just the past week alone, lost even more money from my crpyto investment when the Ethereum developers delayed the fork another 6 weeks. Just another example of life being rigged and why I am so grateful and indebted for this inheritance because otherwise I would be fucked. Based on a conservative growth grate of the stock market and other investments in the fund, my crypto losses will recovered within 2 years, versus six years or longer with a regular job. Given my personal track record, just going to fail again. Much easier to just kick back at my dad’s home and collect money , eat bbq steak or salmon for dinner every night, and just watch TV and play videos games and surf the web all day. As for my own investing, no more risk-taking and just stick to index funds and safe bonds.

Politicians and pundits love to praise the virtues of risk taking as being the driver capitalism and society, holding guys like Musk, Gates, Bezos, Zuckerberg, and Jobs as exemplars of success, but ignore the risks, ignore the role of luck, and ignore that each of these individuals either came from a privileged upbringing and or received some help, either reassurance in the the form of a safety net should something go wrong, or external funding. Furthermore, the media ignores all the failures, all the people who have gone broke and lost it all from their failed endeavors and never had anything to fall back on.