Relationship Wealthy parents should give their GOOD kids wealth before they die

[A.S. Deep]

Agreed. My grandmother said she didn't want to move into this nice retirement community because she was worried that the expense would eat into her kids' inheritance.

I told her, "You and grandpa worked hard all your lives so you'd be taken care of in retirement. Your kids are grown men and they made their choices on how to handle their money. You don't owe them anything."

And she went and signed up for the new place that day. I was very proud of her.

The idea of retirement homes never made sense to me unless the elderly parents had a medical condition that required constant professional medical care.

What's so wrong about taking your parents into your home when they grow old?

 

[Fedorgasm]

The idea of retirement homes never made sense to me unless the elderly parents had a medical condition that required constant professional medical care.

What's so wrong about taking your parents into your home when they grow old?

It wasn't a nursing home, more like a neighborhood where you have to be over 65 to move in. She values her independence.

 

[I Am Legion]

Yeah you pretty much didnt read the OP or watch the Tucker video or are aware of the difference in generations and wealth. Your attitude is fine and all but it ensures your kids wont have generational wealth.




Yeah your anecdotals are pointless. You are ignoring the financial data

So avg home prices aren’t data? Not saying home prices aren’t out of hand in many places, but they are very affordable in others. They make whole television shows about it....But if you just want to push the woe is me agenda, go ahead. I do quite well for myself because I was taught as a kid through sports and school, excuses are just crutches. People that work smart and hard, can and do make it. When I’m ready, I’ll sell this home in an expensive area and move to a quieter less expensive area...that difference will eventually go to my kids.

 

[JSN]

That’s one nice thing about having divorced parents. I get allowance from both my parents.

 

[ufcfan4]

Ahh, but that's where you make the fatal flaw. You think you know.

Spoiler

I quite enjoy that movie.

BUT Mac is way too much of a mustache-twirling maniac in it to seriously sell that central conceit of the parents being oblivious to his actions. Seriously, it's a guilty pleasure type of horror film rather than something more outright good because Culks is so over the top that the subtlety goes out the window early. Still, the Mr. Highway shit legitimately terrified me.

Elijah Wood is great in that movie. I almost get the sense that he thought he was in a different movie because his acting is so nuanced while Culks is pure pro-wrestling heel menace.

 

[ufcfan4]

Maybe it is tasteless but it is logical if one wants to make a move up. I mean all we have is due to genetics and upbringing. Nobody is as self made as they think they are.

Some of the most famous rich people like Trump or many others benefited immensely from inheritance and grew it. Of course they were taught well how to maximize wealth. But our rulers benefited from good genes, upbringing and often wealth. It separates the pack even many tech billionaires had upper middle class upbringing and were endowned with high IQs



You are naive. I hope your sister gets wealth then and you dont .


Also never in the OP did I say dont work I said give them in their 30s after they have shown themselves worthy.

Someone on Sherdog had a quote that I'm sure is a well-known aphorism that I just hadn't heard, but I just wanted to repeat it here:

There are a lot of people who are born on third base and think they hit a triple...

I really liked that. It's clear that the self-made man or woman is sort of a misleading phenomenon. You could even argue that some people who didn't have money growing up but had a loving, happy home where the parents were very much emotionally attuned to the needs of the kids have already received a major benefit that will help them in ways they might never fully grasp. You have loving, attuned parents- you feel more comfortable and confident in facing the challenges of the world. You are better able to cope with difficult emotions. You have cognitive and emotional flexibility. These are all things that help in terms of academics, focus, attention, confidence, social skills etc.

My point being that there are plenty of forces that either help us or hinder us that we did not choose. Parents "investing" in their children is a positive thing. And there is more to it than money and resources alone.

 

[Oceanmachine]

This is what Asian parents already do lol

It is smart

Why Indians will own Canada one day well have to compete with the Chinese there!