Reply to Establishing lifetime trust accounts for young adult children

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]There are worse things that can happen to your kids than “never establishing a career.” As long as they’re doing something meaningful to them and have enough money, does it matter? A lot of careers kind of suck. [/quote]

I don't know, a lot of the people I know who never established themselves and got parental subsidies aren't really happy loafing around now that they are in their 40s and 50s. And the men are still single because women don't really want to marry someone like that. I knew some of these people growing up and I never would have guessed they would going to end up like this. I have my will set up to not give my kids money until 30 if I die. Honestly I would set it at 35 except that seems like a lot for an executor. If I am alive I would give my kids money in  their 20s for specific reasons (med school, down payment) but I would not just give them money for nothing.[/quote]

+1 the wealthiest trust finder I know is in their 40s and he and his wife seem rudderless outside their kids activities. [/quote]

A lot of people are unhappy in their 40’s though. It’s not as if only trustfunders are getting divorced, hating their jobs or having other crises. [/quote]

Yeah but working gives people a sense of purpose. It really isn't great to just be on the dole, even if that dole is a trust fund.[/quote]

This is true for a lot of people, but I’m pretty happy “on the dole.” I like having time to be the primary caregiver for my young kids and time to care for my elderly parents, and to do some creative pursuits and volunteering. I had the kind of job that sounds good at a cocktail party, but I was miserable. I never had time for what felt like my real life and the things that were supposed to be rewarding about work lost their shine. All you get from a salary is a salary. Meaningful work doesn’t always come with cash payments. Ask women. And I absolutely love not being totally pinched at this moment in my life and having time to serve my family and keep myself happy. I know some people will look down on me for not “working” but tbh I don’t need their approval. [/quote]

But obviously if my parents wanted me to be a doctor or whatever they are disappointed. On the other hand, they see their grandkids all the time with me there to help them and know I will help them as they age, get sick and die. [/quote]

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