What percentage of rich parents don't teach their kids about humility and hard work? I'm wondering if what's happening

Dec 8, 2021
12:13:11am

HarlemCoug Free to change my mind

here is that the rich people that so many here know the best are the tv/media stars. And that people here are seeing these outlandish people's behavior and think it's more normal than it is?

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HarlemCoug

Previous username: Big12
Bio page: HarlemCoug
Joined: Sep 8, 2014
Last login: Jun 9, 2024
Total posts: 32,620 (4,090 FO)

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Messages

Author

Time

I'm pretty surprised by this linked thread. Why do you think rich people continue to give their kids so much money? If

HarlemCoug Free to change my mind

12/7/21 11:56pm

Parents do a lot of dumb things that they think help their kids…

CoastalCoug

12/8/21 12:03am

Perhaps the way in which trust fund kids are “ruined” isn’t easily noticeable

BYUCLA

12/8/21 12:06am

What percentage of rich parents don't teach their kids about humility and hard work? I'm wondering if what's happening

HarlemCoug

12/8/21 12:13am

I’m worried about it for my own kids and I’m not that rich

BYUCLA

12/8/21 12:28am

I used to sit in on some succession planning for some of my clients.

Superman21

12/8/21 1:20pm

Note that I like your point about the word "ruined" ... maybe it's not the best word... obviously there's a big

HarlemCoug

12/8/21 12:18am

A pretty depressing thing as I've worked with our financial planner is that if I follow the plan, take my allotments,

ChinaFan

12/8/21 12:46am

It’s easy to say you wouldn’t pass on generational wealth when you don’t have

garyfan

12/8/21 12:49am

yes, I have no doubt at all if I had a consistent flow of funds, that I would have gone to school for years

ChinaFan

12/8/21 12:53am

I think it only "ruins" some personalities. Materially, they're doing great.

Shore10

12/8/21 3:54am

The generational wealth class aren’t usually the most self aware

stoils

12/8/21 5:56am

There is some truth here

Iman23

12/8/21 7:49am

Do you know a lot of these people?

justAnotherCoug

12/8/21 8:09am

I see so many messed up people without money that if I see a messed up person with money it’s hard to blame the money

Odysseus

12/8/21 7:24am

Lot bizarre takes here. The rich know more than the posters on this thread.

valleus

12/8/21 7:51am

It can provide an enormous leg up in so many ways

justAnotherCoug

12/8/21 8:15am

*Can be. Unless having all your needs and wants met means that you never have to

hardcorecoug

12/8/21 8:48am

Sadly I have seen that enough money means you get to keep rolling the dice

justAnotherCoug

12/8/21 11:39am

I think what you mean is children of wealthy people becoming self-sufficient

hardcorecoug

12/8/21 12:07pm

My experience with trust funders is that many of their parents misunderstand

BlooCoog

12/8/21 8:20am

I don't think anyone wants to be seen as inequitable.

justAnotherCoug

12/8/21 8:28am

I just wonder if there are better ways to do it. For example, instead of giving

BlooCoog

12/8/21 8:32am

I've seen some of that in my family

justAnotherCoug

12/8/21 8:50am

Interesting. The house owned by the trust sounds like a brilliant idea. Everyone

BlooCoog

12/8/21 9:00am

I had a coworker who was a trust fund kid, he got $400k each year BUT he had

BYU Grounds

12/8/21 8:54am

This is the right approach. No free money without strings attached.

BlooCoog

12/8/21 9:52am

It's pretty rare for kids to get money with no strings. right? I think that's a lesson that

HarlemCoug

12/8/21 10:26am

Unless there's a pandemic then it's for adults.

Soupie

12/8/21 10:29am

My own view is that "help" could be defined very differently for some.

Socrates Johnson

12/8/21 10:52am

I think this is true

justAnotherCoug

12/8/21 11:48am

Random breakdown of some trust fund recipients i know...

Shore10

12/8/21 11:57am

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