If your kid is more successful than you

[Anonymous]

Anonymous wrote:If you have 9 million liquid then you must know about estate laws and limits?

Give away wealth before you pass.

I'm guessing, like others, that maybe you've been less than generous which is why you have so much.

Death tax is on what over what cap?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t think you should feel obligated…although surprised you have so much NW and yet you have never made $500k per year.

I think the question is do you plan to leave all the $$$s to your kid? If so, not sure there is much difference in paying for the wedding vs just leaving more to the estate later on.

I was far wealthier than my parents…like my NW was 20x their NW, so I took the lead in telling them to just enjoy the wedding and not contribute.

My own kid is early 20s, but on paper worth a ton due to lucking out in the startup game…we will see what happens if that paper money becomes real money.

Early 20s and lucked out in the startup game?

Lol. You mean the one with peak valuation rounds in 2021 that re-rated down from that by half and has no one IpO market. And even when it goes public there are 5+ years of illiquidity for insiders.

Well they just raised a Series B at a $2BN valuation (like this month) and my kid owns 1.5%. Assume you can do the math.

It will likely be an acquisition not an IPO.

Why so angry? I said it’s on paper, not yet real money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t think you should feel obligated…although surprised you have so much NW and yet you have never made $500k per year.

I think the question is do you plan to leave all the $$$s to your kid? If so, not sure there is much difference in paying for the wedding vs just leaving more to the estate later on.

I was far wealthier than my parents…like my NW was 20x their NW, so I took the lead in telling them to just enjoy the wedding and not contribute.

My own kid is early 20s, but on paper worth a ton due to lucking out in the startup game…we will see what happens if that paper money becomes real money.

Early 20s and lucked out in the startup game?

Lol. You mean the one with peak valuation rounds in 2021 that re-rated down from that by half and has no one IpO market. And even when it goes public there are 5+ years of illiquidity for insiders.

Well they just raised a Series B at a $2BN valuation (like this month) and my kid owns 1.5%. Assume you can do the math.

It will likely be an acquisition not an IPO.

Why so angry? I said it’s on paper, not yet real money.

No ones angry. Most startups don’t survive and the last three years were brutal, even for unicorns. Good luck. Hope they have very smart investors.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t think you should feel obligated…although surprised you have so much NW and yet you have never made $500k per year.

I think the question is do you plan to leave all the $$$s to your kid? If so, not sure there is much difference in paying for the wedding vs just leaving more to the estate later on.

I was far wealthier than my parents…like my NW was 20x their NW, so I took the lead in telling them to just enjoy the wedding and not contribute.

My own kid is early 20s, but on paper worth a ton due to lucking out in the startup game…we will see what happens if that paper money becomes real money.

Early 20s and lucked out in the startup game?

Lol. You mean the one with peak valuation rounds in 2021 that re-rated down from that by half and has no one IpO market. And even when it goes public there are 5+ years of illiquidity for insiders.

Well they just raised a Series B at a $2BN valuation (like this month) and my kid owns 1.5%. Assume you can do the math.

It will likely be an acquisition not an IPO.

Why so angry? I said it’s on paper, not yet real money.

No ones angry. Most startups don’t survive and the last three years were brutal, even for unicorns. Good luck. Hope they have very smart investors.

Seqouia is lead…it’s AI. No surprise.

[Anonymous]

So something meaningful with your money instead of pouring it on top of each other rich people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t think you should feel obligated…although surprised you have so much NW and yet you have never made $500k per year.

I think the question is do you plan to leave all the $$$s to your kid? If so, not sure there is much difference in paying for the wedding vs just leaving more to the estate later on.

I was far wealthier than my parents…like my NW was 20x their NW, so I took the lead in telling them to just enjoy the wedding and not contribute.

My own kid is early 20s, but on paper worth a ton due to lucking out in the startup game…we will see what happens if that paper money becomes real money.

Early 20s and lucked out in the startup game?

Lol. You mean the one with peak valuation rounds in 2021 that re-rated down from that by half and has no one IpO market. And even when it goes public there are 5+ years of illiquidity for insiders.

Well they just raised a Series B at a $2BN valuation (like this month) and my kid owns 1.5%. Assume you can do the math.

It will likely be an acquisition not an IPO.

Why so angry? I said it’s on paper, not yet real money.

No ones angry. Most startups don’t survive and the last three years were brutal, even for unicorns. Good luck. Hope they have very smart investors.

Seqouia is lead…it’s AI. No surprise.

doesn't mean anything, they changed their stripes 3x the last 10 years.

lead of the late round? or what?

[Anonymous]

Anonymous wrote:Would you help out with things like weddings, house down payment, etc assuming you could afford it but at the same time, they don’t exactly need it? Our son is making something like 500k in his early 30’s, that’s more than our income has ever been. I’m not sure we really need to help with the upcoming wedding costs for instance.

We invested well and had some inheritance so despite never making quite as much, we have very comfortable savings (around $9M liquid), which means we have the spare cash to help but it’s not like he can’t handle it himself.

Our wedding was partially covered by parents but at the time we were quite poor.

Yes. would contribute meaningful to their big life events.

Is the bold an understatement or a troll?

[Anonymous]

Its a gift from you, doesn't matter if its peanuts for them. As long as its not jeopardizing basic needs of your post retirement years, give it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t think you should feel obligated…although surprised you have so much NW and yet you have never made $500k per year.

I think the question is do you plan to leave all the $$$s to your kid? If so, not sure there is much difference in paying for the wedding vs just leaving more to the estate later on.

I was far wealthier than my parents…like my NW was 20x their NW, so I took the lead in telling them to just enjoy the wedding and not contribute.

My own kid is early 20s, but on paper worth a ton due to lucking out in the startup game…we will see what happens if that paper money becomes real money.

Early 20s and lucked out in the startup game?

Lol. You mean the one with peak valuation rounds in 2021 that re-rated down from that by half and has no one IpO market. And even when it goes public there are 5+ years of illiquidity for insiders.

Well they just raised a Series B at a $2BN valuation (like this month) and my kid owns 1.5%. Assume you can do the math.

It will likely be an acquisition not an IPO.

Why so angry? I said it’s on paper, not yet real money.

No ones angry. Most startups don’t survive and the last three years were brutal, even for unicorns. Good luck. Hope they have very smart investors.

Seqouia is lead…it’s AI. No surprise.

doesn't mean anything, they changed their stripes 3x the last 10 years.

lead of the late round? or what?

For his company it means $100MM…so I guess that’s something.

[Anonymous]

DH and I are more "successful" than his parents, but for various reasons our net incomes isn't as high as it looks on paper. Lots of medical expenses, student loans, taxes from being business owners, etc.

DH's parents have helped us out several times over the years including the kids college education. We appreciate it very much. Help your kids, OP. You clearly can, so what's the problem? What else are you going to do with your NINE MILLION?!

[Anonymous]

Anonymous wrote:DH and I are more "successful" than his parents, but for various reasons our net incomes isn't as high as it looks on paper. Lots of medical expenses, student loans, taxes from being business owners, etc.

DH's parents have helped us out several times over the years including the kids college education. We appreciate it very much. Help your kids, OP. You clearly can, so what's the problem? What else are you going to do with your NINE MILLION?!

Sounds like you aren’t as successful as your DH’s parents.

Don’t disagree about the $9MM, but you need the money.

[Anonymous]

You're incredibly wealthy and so is your ds. We're much less wealthy and not planning on helping kids with a wedding even if they make less than we do. At your level? This is nothing. You can afford to be generous.

[Anonymous]

Anonymous wrote:Yes, I would still help out.

+1

I don’t think most parents do this because the kid is too poor. They feel it is their role (assuming they can afford it).

[Anonymous]

Anonymous wrote:

Anonymous wrote:Would you help out with things like weddings, house down payment, etc assuming you could afford it but at the same time, they don’t exactly need it? Our son is making something like 500k in his early 30’s, that’s more than our income has ever been. I’m not sure we really need to help with the upcoming wedding costs for instance.

We invested well and had some inheritance so despite never making quite as much, we have very comfortable savings (around $9M liquid), which means we have the spare cash to help but it’s not like he can’t handle it himself.

Our wedding was partially covered by parents but at the time we were quite poor.

Is this a joke?

Of course you help him and pay it forward and be generous!

Why? Because you are successful and loaded too. And things are only getting more and more costly and competitive out there. And you are comparing your supposed $9m+ of wealth to Hus one year income of a job or company or industry no one knows how volatile or stable it is?

This has to be another ignorant troll post.

Agree. ignorant troll post or ignorant millionaire with zero finance or parenting/relationship acumen.

[Anonymous]

Anonymous wrote:Everyone’s wish is for their children to do better than them. Most parents tell their kids that all the time, including when they’re prouder than heck with them (college, job, promotions, marriage).

And then there’s you.

Yup.