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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sting (of the band The Police) said he plans to give most of his money away and not saddle his children with "an albatross around the neck" which is what a huge sum of money can be.  [/quote]

You have failed as a parent, if you've raised children that cannot deal with the level of wealth you've managed to accumulate in your life. Human progress is precisely preparing our children to be able to take what we've accomplished and build on top of that. We would all be wearing loincloths and living in straw hats if we didn't want to saddle our children with the albatross of woven clothes and brick houses. Just shows you that many very successful people are terrible parents and have failed at one of the most important things that give their life meaning. [/quote]

Well then, a lot of wealthy people fail as parents.  And I think it's because getting too much, too soon can hurt a kid.  It's not normal or natural, and plenty of trust-fund kids end up messed up because they don't really have to work at anything.  There's giving your kids a good start, and then giving them something that's too much for most people to handle.  [/quote]

[b]I hope I don't out myself here. 
I know a LOT of people who have inherited massive amounts of familial wealth. Usually, at age 40 or 45, the real money comes in through the trusts. Each and every one of them is now in the 45-50 age range - and lost/purposeless, flight, meandering. No job. Men golf all day, women shop and redecorate the house. They always knew the money was coming. And while they had jobs in their 30s, they never really worked that hard. Never needed to have real grit or ambition. Why? Because they knew they had 30, 60 or 100+ million coming their way. Yes, they are very philanthropic people. But their lives are just so boring. And they are boring. They don't really have a purpose.

While a career shouldn't be your purpose, it does help guide/focus/help you define your identity in those important 30-40 age ranges. The jobs these folks had - it was just a holding pattern....[/b][/quote]

While depressing, this resonates with me. I fit this mold and others I know do, too (maybe just delete a 0, but still). If I could go back in time, I'd tell my parents to keep their cards closer until I was older! I certainly plan to do so with my offspring.[/quote]

What a completely irrational, unproductive, and immature way of approaching a problem. Do you also hide the family car from your kids and force them to walk/bike everywhere? Do they camp out in a tent lest you corrupt them with the luxuries of modern homes? Everything you find to be commonplace in your life was considered wild and fanciful things at one time in the history of human civilization. To the extent that your child has no issue handling them is because they are exposed to them since birth. People become prepared for something by being repeatedly interacting with it, not by being kept away from it. It does take a special type of person to build on top of the achievements of their parents. In fact, the progress of human civilization proves that it is only a minority of parents who fail to adequately prepare their kids. Don't be one of those parents by thinking that your kids are somehow inferior to your capabilities and should be shielded from the pressures of having abundant resources. [/quote]

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