I think you use your money in a way that fosters self reliance

Dec 7, 2021
12:34:13pm

D.T. Survivor All-American

it could be with your own kids, it could be with humanitarian or other charity work. Look at what your money is incentivizing. Even donating vast amounts of money may cause more harm than it helps.

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D.T. Survivor

Bio page: D.T. Survivor
Joined: Mar 30, 2017
Last login: Jun 1, 2024
Total posts: 10,297 (20 FO)

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Messages

Author

Time

I see a lot of comments on how great “generational wealth” would be

D.T. Survivor

12/7/21 12:00pm

You hear about Lehi? He left all his wealth to family — & just up & disappeared

SinkingQuffa

12/7/21 12:03pm

That I did.

LEHI cougar

12/7/21 12:33pm

Hey dude — it's been awhile! You hear what happened to Laban???

SinkingQuffa

12/7/21 12:39pm

So should it be left to charity? Or something else?

Hank Rearden

12/7/21 12:04pm

I think you use your money in a way that fosters self reliance

D.T. Survivor

12/7/21 12:34pm

Providing micro credit for people who have a plan and want to work. Or making education accessible for productive means

mvtoro

12/7/21 12:44pm

It should be donated to BYU athletics

pappabear246

12/7/21 4:39pm

I think people are making a lot of assumptions about generational wealth...

Parabellum

12/7/21 12:04pm

It's one of those things none of us would turn down, and we would all

WizeGuise

12/7/21 12:05pm

yep, talk with any estate attorney and the stories are horrific/sad/funny

Mayor of Cougartown

12/7/21 12:16pm

Some in the industry call it the "cold hand slap"

SurfCoug

12/7/21 4:04pm

IMO, it's not a given that kids from rich families end up lazy and spoiled.

shoganai

12/7/21 12:05pm

That’s not what I meant to say

D.T. Survivor

12/7/21 12:11pm

I think this part of it is pretty vital

crack

12/7/21 12:16pm

Not a given, but there is research showing that probability of negative outcomes

Gustav

12/7/21 12:19pm

Just my opinion, but money is just a magnifier. If you teach your children to be

crack

12/7/21 12:07pm

A lot of money issues just come with the territory. It can be harder to teach good life lessons to your kids when they

No touching

12/7/21 12:27pm

I agree

D.T. Survivor

12/7/21 12:38pm

I don't think there is a person here who would choose generational poverty over

crack

12/7/21 12:45pm

Hopefully it's "just" a magnifier, anyways.

SinkingQuffa

12/7/21 1:39pm

Nothing wrong with wealth - depends on what it does to the person and use!

truecougster

12/7/21 12:18pm

It’s a tool with a lot of power.

D.T. Survivor

12/7/21 12:43pm

More than 10K? Shoot

Heath Squashwell

12/7/21 12:24pm

Yup, see Hunter Biden. Generational wealth ruins kids.

CougarTailDevourer

12/7/21 12:33pm

*Generational wealth provided by stupid parents without boundaries. There are tons of counter examples.

mvtoro

12/7/21 12:43pm

I was thinking more along the lines of Don Jr and Mitt Romney

IceBlueCoug

12/7/21 6:36pm

Hunter Biden is not a product of generational

pappabear246

12/8/21 3:52pm

The chapter about Economic Outpatient Care is revolutionary and should be read

kotacoug

12/7/21 12:35pm

This line makes a lot of assumptions: “But Why would you want to turn your kids into Uber wealthy, spoiled brats who

mvtoro

12/7/21 12:41pm

It’s not a given that wealth creates spoiled kids

D.T. Survivor

12/7/21 12:47pm

And when I think of generational wealth I think of grandkids & great-grandkids. They don’t even exist yet, so I can’t

Odysseus

12/7/21 12:49pm

It’s important for parents to parent even wealthy parents

CougieMcCougFace

12/7/21 12:52pm

I just watched the first episode of Yellowstone. I like that John Dutton fella. I want to be like him and buy up an

RootieBoy

12/7/21 12:58pm

Exactly the reason I decided not to become rich...

fatcracker

12/7/21 1:33pm

And if you think he's just joking... as BYU fans perhaps

SinkingQuffa

12/7/21 1:38pm

Jordan Peterson with an excellent analysis

JupiterJones

12/7/21 2:17pm

That's a great book - even better on that topic is "Die Broke".

antiyewt

12/7/21 2:40pm

Wow bless your soul for having those as your former in-laws

D.T. Survivor

12/7/21 2:51pm

Married to that for 18 years.

antiyewt

12/7/21 3:03pm

My wife has a step family that is really screwed up

D.T. Survivor

12/7/21 3:06pm

As is often the case — sounds like the money corrupted the parents first.

SinkingQuffa

12/7/21 2:59pm

GC talk about this a few years ago -

ForzaPuma

12/7/21 3:00pm

This is what I was referring to with the Brigham Young quote:

King of Y

12/7/21 5:28pm

Sometimes I think people who don’t have generational wealth say this to feel

Bluedomination

12/7/21 6:10pm

It was 20 years ago and before all this crazy inflation

D.T. Survivor

12/7/21 8:44pm

I'm in my 60's and my father is still alive. I assure you he could leave me more

deljdc

12/7/21 7:46pm

Honestly, the idea of leaving my children with tons of $$ is not appealing. I

BlooCoog

12/7/21 7:52pm

I've read 70% of it is gone after 2 generations, 90% after 3.

seacougar

12/7/21 10:02pm

What happens if one child struggles with medical issues, unemployment, inability

kotacoug

12/8/21 7:51am

Those are exceptional circumstances that can be accounted for in the provisions.

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