Reply to Husband doesn't want to leave our kids much in inheritence

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of charities don’t really do anything.[/quote]

As opposed to people with inherited wealth, the heroes of America's story.[/quote]

I mean, I would rather see it go to charity then passed on as inherited wealth. But I seriously cannon wrap my head around why someone would spend their prime years doing the kind of work necessary to amass this kind of money, then NOT want to leave it to your kids? I know four people with wealth on this scale (estates between 10mil-40 mil) and they basically ruined their homelives to get it. Three (the men) worked 24/7 while their SAHW coped with everything, even after serious health issues. One (the woman) basically abandoned her kids to their dad and moved to another city.

I get wanting to make sure your own kids work hard and have motivated. But why TFFFFF did they spend decades frankly neglecting their families to accumulate all of that?[/quote]

I'm not seeing how leaving your kids more money than they could reasonably need addresses the problem of absentee parenting. [/quote]

Because if you start gifting it to them in their 20s/30s/40s, they can have a good life and not have to join the crazy rat race of working 80+ hours per week and traveling 3 weeks out of the month.  They can have a good career and bit more work life balance and still live in a nice home with good schools.  They don't have to worry about maximizing retirement savings because that is covered.

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Nobody achieves great success without putting in the work.  I don't want my kids thinking they can just work a crappy middle management job because of free money.  I would rather they see the financial cushion as a reason they can take a chance on that start-up (which BTW is going to require 100+ hour work weeks) because they don't need to just work a job.

We may be doing the same things, but sounds for nearly opposite reasons.

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If it's my kids wish to take a chance on a start up, they will have the money avaialbe to do just that.  But I don't believe they need to be in the rat race with a goal of C suite position, unless that makes them happy.  It's nearly impossible to be in a C suite position and have a good work/life balance.  I'm aware of that, that's why we have a SAHP in our household.

Not everyone wants/needs to be an executive.  I want my kid to be happy.  And if they can earn $100-150K/year, have a successful career they are happy with, and get to be home for the kids sports/activities at 4/5pm several days a week, or can start work at 9 am so they can help shuttle them off to school, I'm all for it.

Life is not all about work.  It shouldn't be.  Life is too short for that.  You could have a medical event that ends your life as you know it at anytime, and you don't want to regret that you didn't get to spend enough time with your friends and family while you could.

If I'm worth Millions, why wouldn't I allow my kids to be whatever career path they want.

FYI--my kid works 45-50 hour weeks.  But they are definately not the striver type to work 100 hour weeks.  They wouldn't be that even if we didn't have $$.  It's just part of their personality from the time they were a kid/ES.  They would be miserable working 100 hour weeks and it would not be good for their mental health.

I for one am proud of my kid, 2 years out of college, doing well, moving up in their company and getting more responsibilities daily.  Yet also proud they know how to have a work life balance (despite not seeing that at home).

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