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Reply to "Children Inheriting Large Sums of Money"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I inherited a lot when I turned 18. My father offered to manage it for me. Relieved, I said, "Okay!" and skipped off into the sunset. He set me up with a monthly allowance for the first year, and paid for college for me. Then the second year he gave me a a semester allowance, then a yearly allowance. [/quote] Thank you. This helps. I think I just keep reading horror stories of kids blowing it all, etc. Having college paid for would be wonderful for them.[/quote] Them blowing it depends on how they are raised. Are they raised to mostly save but sometimes indulge? Are they raised to value material things or content of character? Do they feel like they can get money any other way by having it given to them? Do they know how to work? Were they taught how to budget? These are all things you are in charge of molding within them.[/quote]
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