Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

My brother is worth 500 million (I'm worth about 10K -- maybe because i spend too much time here instead of founding unicorns?). He is leaving all of it to his 2 children. They know it. Children did not go to college and when I ask why, they say they don't need it. I told them that when the job market gets hard, it is better to have an education. Their answer, "things won't get hard for us with the shit load of money we have!"
I would invest in their education. But who knows? It's easy to make self posturing decisions based on what ifs. Perhaps if I had the 500 million, I would think differently and allow them to pursue passions rather than a degree to support themselves.

Anonymous wrote:

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

$1M isn’t all that much anymore.

Folks, cut it with the “$1M isn’t much these days.” It
Gives you and this forum a bad reputation...

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

$1M isn’t all that much anymore.

Looking back, I would have done much better at a regular private that had smaller classes and more attention. I doubt anyone in middle or high school had any clue who I was or even cared. I was an average student who tried but struggled.

Mine was in a small private, aged out, went to public and loves public.

Very kid specific.

My parents promised me that kind of money and help for things like college for my kids and never came through. They have it and no idea what they are doing with it or care. Fortunately we didn't trust them and saved for college on our own.

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

I understand where this perspective comes from but it has little relevance in DC where many of our civic institutions are run by the children of affluence whose wealth allowed them to choose a Public sector career. A day this in all earnest, not as jest or provocation. You have a right to this belief, but it isn’t a valuable addition to this thread.

Anonymous wrote:
1, no question.

My kids are thriving in the public magnets.

I am always at a loss as to understanding why public school families engage on private school forum posts. Does this happen the other way around as well? It wouldn’t even occur to me to review the public school forums - not that I have any issues with those who choose public, but who has the time and motivation to read about topics that don’t pertain to them?

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

Planet Earth.

Anonymous wrote:Op, if I had it to do over, two in public, twoi in private ... I would hire a private tutor and home school my children.

Interesting! Why?

I'd do public elementary and middle, and private high school for the oldest.

I'd do public elementary and private middle and high school for #2.

Anonymous wrote:

Anonymous wrote:On what planet is a good idea to give any kid a $1 million inheritance? Way to destroy their ambition, drive and motivation to do anything for themselves.

Funny you say this.

My kids have a trust ... they get a small amount at 28, another small amount at 32 and the bulk at 35.

My lawyer said ... your crazy but I’ll write it up that way.

This is fairly common for a trust fund, no? Why did your lawyer think it was crazy?

We need to elect Bernie Sanders ((BS) to be president So that every body can be equal! I cannot stand a world where some are richer or more capable. I m happy if everyone is equal in poverty or dumb.

#2, buy the time they reach inheritance age (your death), hopefully they will be in a great position to just put that inheritance into sending their own kids to school.

Also, who knows with healthcare costs, this million each you think you will have to leave them could just get eaten up by long term care costs if you end up needing lots of medical care at the end. Either the hospitals will take it all then, or if you don't have it (because you already spent it on their educations), you're out the same and your kids didn't benefit.

Op, if I had it to do over, two in public, twoi in private ... I would hire a private tutor and home school my children.

I would probably pick #2. My thought is a private education is something solely for the benefit of my child. I can gauge whether the school is a good fit for my child etc. and there would still be an inheritance that my child could use perhaps for a home, a wedding, a business. Giving my child a 1M inheritance, who knows what they might spend it on or whom or how it could impact their ambitions if they know they will receive this sum at a certain age. I’d like to think they would be responsible but at that point they could invest in stocks or a business that tanks or end up divorced and co-mingled assets are split. With Option 2 or some variation of it (like grade 6-12) I wouldn’t be putting all my eggs in one basket. This assumes your child will benefit from private school.

I mean it’s the private school board where people swear up and down the private school is the only way. Think about your audience.