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Dec 7, 2021
12:45
:56
pm
crack
Truly Addicted User
I don't think there is a person here who would choose generational poverty over
generational wealth.
There are way more challenges with generational poverty than there are with generational wealth.
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crack
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crack
Joined
Nov 17, 2005
Last login
May 5, 2024
Total posts
42,347 (119 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.
seacougar
12/8/21 2:39pm
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