Should Our Kids or Kid's Kid Have to Grind
- Thread starter Knock_Twice
- Start date
I'd take the second option.
I'd want that stock and bonds action.
Investing in education means what again? last time I check 2 + 2 is the same in free public school as well as 5k-15k a semester private school but that's another topic. I hear that all the time, investing in a kid's education, but what education are you receiving? and when are you as a kid will get a (bang) on that investment? but again that's another topic.
I'd take the second option. I can't get full eating off of tears and failed investments (if it turns out that way).
What about you? I ask you the same question (?)
Had it for a couple yrs now. Someone in my fam passed without a will n the legal procedure after was terrible (n no one even fought).
it's honestly never too early.
Have you seen how quickly people burn through lottery winnings? Inheritances aren't too different.
I see it as teaching a man to fish vs giving them fish. Make them profitable, or give them money and hope it lasts. Ideally do both but if I had to pick one, I'd invest in them while I'm still living.
That doesn't just come in monetary form either. Cld be providing care for grandkids while they continue their careers (daycare costs sink so many households) for a few years. U can invest in ur child professionally even when u aint got much in liquid assets.
Agreed.
But how can you teach a man to fish when that man has no fishing pole?
The stocks and bonds are his fishing pole in this parable. It's good to know about fishing, but how can I start fishing with no materials?
But it goes back to teaching, why not teach and give me my stock and bonds. That teaching you doing, is better learned with materials IMO.
I agree but if we r working with reality, we need to find ways to instill good financial sense in kids who dont have access to parental assets. cuz in our lifetime at the very least, there r gonna be a lot of kids in that position.
Look up inheritance tax rates in ur state. That million will bcum 600k real quick (40% tax rates on big inheritances), n that doesnt easily last a lifetime. Then if u got more than 1 kid? 300k each. If those kids have a mortgage or wanna buy a spot, that's a million dollar inheritance gone in one swoop when divided amongst 2 kids. god forbid 3.
Now how did they get that inheritance? the relative who made all that money is gone. the probability of at least 1 of those kids making bad investments or spending that money like its nothing isn't 0.
I know too many trust fund babies who dont know how money works, even tho their parents or grandparents put that work in n try to pass it down over the dinnertable. The best with money tend to be self-made, from what I've seen.
I'm 20 years old, don't really have much to leave behind besides what's in the bank
U can put ur preferences in the event of bein put on life support n shit in ur will. wills r important not just for assets. if u ever had kids, u cld put ur guardianship wishes in the event u or the other parent pass in ur will. serves a lot of purposes n saves ur surviving relations a headache.
I feel that.
Even though nothing you have, you could always have one drawn up and just add to it when you get things.
Ive had it relatively easy any lack of success or growth has always been on me. Id prefer to give my kid the same i had or better. And if i was rich rolling in dough they will be too young black entitled uppity kids
I think my son will be more spiritually balanced.He will also not have to grow up as fast as I did. As far as monetarily he will way more than I had did. But I still want him to grind because of want he wants out of life and not because that is what he had to do to survive like I did. Hopefully, he will see entrepreneurial side that me and his mother both have and choose that path. You can't get fired or layer off when it's your business.
Not really like i wouldnt foster it in them but if it happened id be cool with it. Black people ain't allowed to be uppity
If its like a deserved entiltement like an inheritance or they earned it then cool. Now being entitled to people and their time is not a good thing.
Hard to explain i want to say its about standards but thats so subjective.
I dont eat chitlins cuz they stink. But if i didnt eat chitlins because i view it as slave food thats uppity.
having high standards doesn't make someone uppity.
being uppity means thinking you're better than other people. both uppity n entitled imply undeserved arrogance.