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Reply to "When do you tell kids about family money?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]When they are going to get the money is quite important. $500k invested in stocks should be about $20 million in 40 years when kids are ready to retire. [b]Why are your 2 and 5 million not going up? Can they go down?[/b] Have them pick up financial literacy as a hobby. This year was so good in the market that I doubled my money. So did many people who were hands on. Knowing that this can be done and how to do it, is really cool.[/quote] $2M is in theirs in trust form now. Will continue to go up. They cannot access anything without trustee approval until 35. You are right that the money from us is a conservative estimate based on modest growth. But maybe we’ll need it for something else or decide we don’t want to leave to them. [/quote] Then don't tell them until after they finish college and have a stable job. [/quote]
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