His father chose $5 tooth extraction over a $50 root canal. Today, being a billionaire he still refuses to fix it. How childhood poverty affects adulthood

For billionaire lawyer John Morgan, a missing tooth is more than a reminder of an old dental problem. It takes him back to a time when his family struggled financially and even a basic medical expense meant making difficult choices. Decades later, despite building a billion-dollar fortune and having two brothers who are dentists, the 70-year-old has deliberately chosen not to get the gap fixed.

Speaking on the Success Story podcast with host Scott D. Clary, the founder of personal injury law firm Morgan & Morgan recalled how losing the tooth as a child shaped his approach to earning money and becoming financially independent.

How a $5 decision left him with a missing tooth

Morgan recalled having a bad tooth as a child and accompanying his father to the dentist. The dentist offered two options, a root canal costing $50 or an extraction for $5. His father chose the cheaper procedure.


The decision left Morgan with a gap in his teeth. Recalling the moment after the extraction, he said he removed the gauze from his mouth and was surprised by how large the gap was.

“I thought the guy taken three out,” he said.

The reaction of his siblings when he returned home made him realise just how difficult the family's financial circumstances were. “We're in this family with no cash,” he remembered thinking.

The experience became a motivation for him to start earning independently. Morgan said he bought a newspaper delivery route and began working towards building a life where he would not have to depend on others financially.

“I went and bought a paper route and that’s why but I always had that seed in me anyway,” he said on the podcast.

Why he refuses to let his brothers fix the gap

Morgan's financial circumstances have changed dramatically since that childhood experience, but he has never considered the missing tooth something that needs correcting.

He said his two brothers, both dentists, have offered to repair it over the years. However, he has consistently refused their suggestions.

“I said, ‘You know what? I like that hole there,’” Morgan recalled.

He explained that the gap is now a reminder to him of the helplessness he experienced as a child and the circumstances that pushed him towards self-reliance.

How childhood poverty shapes decision-making

Research published by the American Psychological Association suggests that growing up in poverty can influence how people respond to uncertainty, even when their financial circumstances improve later in life. Unrelated to Morgan's situation, a study published in the Journal of Personality and Social Psychology found that adults who experienced financial hardship during childhood were more likely to feel that difficult situations were beyond their control.

In one experiment, students who recalled financial uncertainty gave up trying to solve an unsolvable puzzle 25% sooner if they came from poorer backgrounds. The researchers also found that recalling situations in which participants had felt in control could reduce impulsive responses. The findings suggest that childhood financial experiences can continue to influence people's sense of control and behaviour well into adulthood, regardless of their current income.