Reply to If you are rich, not just upper middle class

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I have 25M, but our HHI is not high. The millions came because we were lucky/savvy in the stock market when we were young, and now we're older.

Our kids know how much we have, and they are preparing for careers in case everything goes south. But our goal is to build family wealth and our kids, having lived a relatively frugal lifestyle like us, will try to build on that  for future generations as well.

[/quote]
Me again. Honestly, I feel your question would be valid if we were talking 100M and above. But with our 25M, I don't think our kids can plan on not working. [/quote]

This is just emblematic of the tendency of people on this board (in the US?) to think it's never enough.  Unless you spend a hefty portion, your kids can live off of the earnings from 25 million.  [/quote]

Yes they could, but not a luxurious lifestyle.  Whereas if they work (even earning $75-100k, this can nicely supplement that.

Also (dp) we want our kids to have a work ethic, they know they have to have jobs.  They both already have their own careers going and are doing well.  Sure they don't have to work 80 hour+ jobs but they have meaningful careers at great jobs.  (Think $75k for a kid 2 years out of college in Mcola) and $90k as starting salary for engineering kid first year out of college.

By most standards, they are in top 25% already for their age.  And live within their means.  Our $ supplements their lifestyle.  They can mange without it [/quote]

They can manage without it living with roommates or in your home, driving a car you paid for and enjoying healthcare insurance they still get through you that's free to them.  Once they really start paying for all this, they cannot make it on their own unless they get into the top 10% earner bracket at least.  The lifestyle kids who have parents able to help them and give them a hand when needed is VASTLY different than lifestyle of kids who don't have any ground under their feet, and where failure to provide for themselves means couch surfing with poor family, driving a clunker, mooching whenever possible or ending up homeless.

You are completely delusional and detached from reality or had never been poor before without any safety net because your family is also broke and has no space to accommodate you. [/quote]

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