• Keeping Friends

In the Media – Pay and income inequality between friends (International Business Times)

Published: October 22, 2015 | Last Updated: October 22, 2015 By | Reply Continue Reading

Screen Shot 2015-10-22 at 3.28.28 PM

Screenshot (International Business Times)

Screenshot (International Business Times)

October 22, 2015

by Lauren Lyons Cole

In her article in the International Business Times, Millennials And The Wealth Gap: What To Do When Your Friends Are Richer Than You, journalist Lauren Lyons Cole writes about best friends who by virtue of their lifestyles wind up at opposite ends of the pay scale.

She writes:

Wealth inequality among millennials is more pronounced than in any other American generation. Engineering majors fresh out of college command lavish Silicon Valley salaries designing apps that feature “content” written by their poorly paid peers who studied literature…

Trying to understand its impact on relationships, Lyons Cole also spoke to several experts, including The Friendship Doctor. She writes:

For friends and family members, navigating the wealth divide can be difficult. Irene S. Levine, a psychologist and friendship expert, says that when financial differences exist between friends, it’s important to avoid money talk. That is, asking about salaries or the cost of large purchases. Allowing the income disparity to fade into the background is the best way to maintain the relationship in the long run.

“If you became friends because you shared an interest in exercise, you can take walks together or go for a hike,” says Levine. “You don’t necessarily have to climb Mount Kilimanjaro.”

Click here to read the article in the International Business Times in its entirety.

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