We’re rich and uncomfortable talking about money as a result

[Anonymous]

Why would you not l leave your wealth to your kids? I do not get that at all.

[Anonymous]

I would show your child a chart of income distribution across the world and say “like the majority of Americans we are wealthier than 90% of people on Earth. That means we are very fortunate and obliged not to act like idiots with our money. Other than that you don’t have to think about this rn.”

[Anonymous]

This is one of the stranger things I’ve read on DCUM.

I remember what my parents told me when I asked this question: “We make enough to have what we need and not so much that we won’t be mindful about how we spend and save.”

No child or friend needs a number. Ever.

[Anonymous]

Op feelin’ good about herself…wants us to know. They call that humble brag or sometin?

[Anonymous]

If I made a lot of money I definitely would not tell my young children. Maybe when they are 30 and established for themselves. You are uncomfortable and rightly so. Disclosing that amount could at a minimum lead to awkwardness with friends and on the other end threaten your and your family’s security. Best to go under the radar.

[Anonymous]

I think this is the same person who keeps bringing up posts about how rich they are and how it makes others uncomfortable. It’s weird.

Here’s an example

https://www.dcurbanmom.com/jforum/posts/list/994516.page

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think that it is very poor judgement to tell a 10 year old your income.

In the way you tell this story, it comes across as if you are frightened to tell your child “no”.

Why were you unable to tell your child that they don’t need to know that information?

I think it’s poor judgment that you often tell your child no when they seek information.

It looks like we’ll need to agree to disagree. I don’t see any scenario where an elementary school student needs to know house income.

[Anonymous]

Anonymous wrote:I think this is the same person who keeps bringing up posts about how rich they are and how it makes others uncomfortable. It’s weird.

Here’s an example

https://www.dcurbanmom.com/jforum/posts/list/994516.page

I presume that OPs wealth and income were at least an order of magnitude higher than this poster.

[Anonymous]

Kids have no concept of money. When my ten year old saw that a Starbucks drink was $6 (absurd to me) she thought it was a a great deal! I asked what she thought it would cost and she said “like $20!” Kids this age have no idea.

We also live well beneath our means (though not nearly as rich as OP sounds) and are constantly explaining to our kids that just because we CAN afford something, doesn’t mean we choose to. Like $120 Lululemon leggings. My daughters friends have them and I think it’s the dumbest waste of money ever. We can afford it, but if DD wants them she has to pay for them herself or ask as a birthday or Christmas gift. I’m not buying them “just because.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Um. I was raised to know that you never discuss money. Maybe it’s a new money thing?

I was raised not to talk about your money, like you wouldn't talk about your sex life. It's personal and nobody needs to know. But married into a southern family that talks about how much money they have, how much they owe AND THEY WILL ASK YOU about your money. How much is your salary, your mortgage, your 401k, do you have home equity loans. It blows my mind. I am stunned in silence when they talk about it. It shocks me like if someone asked me - how often do you get layed? do you swallow? do you own sex toys? Why in the he!! do my relatives need to know about our money or sex life?

+1

People that don't it feel they need to know about people who do - same goes for both money and sex.

Thing is, even if you agree with them (or don't) they still aren't pacified, so it's pretty much hopeless, either way.

*have it

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm in the finance industry and believe that both being truthful and understanding money are important for both children and families. When my kids ask how much my car costs or how much I make, I tell them (coincidentally, my oldest is similar in age to yours at 11). I told them not to brag about it at school and that it can make others feel bad or be considered rude. If someone else is offended through word of mouth from their kid, not really my problem.

HAHAHAHA. No. Kids talk. Nice try, though.

As I said, not my problem

Yeah, but you want to encourage people to be nosy, so that really is your problem.

[Anonymous]

Anonymous wrote:You’re a pile of shit OP . Oh uou grew up upper class but no inheritance? Wtf

Why are you being mean? Where did op say they weren't going to leave money to kids? If so, that doesn't make them shit. They have more faith in their kids' abilities to make it in this world. Maybe they know if they told their kid hey you are getting money than the kid won't have any work ethic and become a drug addict?

In other words, MYOB

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When they ask how much you sold your business for, just say the terms of the deal included confidentiality so you can't reveal it or they'll do X.

Wut?!

A lot of business sales include a confidentiality clause, and theres'a penalty for violating it. For example, the previous owner may have been allowed to retain a few shares in the new company, and they could lose those. Or they could be sued for monetary penalties if the contract included that.

Yes some business sales include a confidentiality clause. But you are encouraging people to lie about having a confidentiality clause when they don't. They are better ways to not reveal it details about your business. Pretending that there was a confidentiality clause when there wasn't is a stupid lie.

[Anonymous]

Why are you uncomfortable talking about money? There is nothing wrong with talking about money.
Why are you uncomfortable telling your kids how much money you are making? What are you hiding? Are you doing some illegal activities?
The net worth of the richest people is known publicly. No problems with that.
The salary of CEOs and executives of publicly traded companies are public. People did died because of it.
State and federal workers salaries are public. It is not affecting their life and families.
Stop being paranoid about talking about money or your salary.
We are both feds GS15. You can find our salaries online. You can find the value of our house online.
Kids know how to navigate the web and will find it if they want.
If they ask, we will tell them.

[Anonymous]

Pretty horrible parents to not leave their money to their kids.