Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I've noticed this seems to be trend lately that many are aspiring to. I'm not sure where it's coming from other than maybe these people had parents who had nothing to pass on to them and want to have money to pass on to their own children. It's understandable but also seems like a lot of pressure for many. Some people can't even afford a home for themselves or don't have much to put into a retirement or savings fund. Many are putting off even having kids for these reason. Now theyre strapped with having money to leave to their kids ?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
Not 100% what your talking about but my family has a massive flaw that they constantly do not try to build generational wealth and thus are always poor and powerless.
The first thing I learned upon grad school was how people just 300 years ago worked to get real estate to build generational wealth and after 2 or 3 generations of passing things down to family, they had done it.
I will but making sure to pass my wealth down the family line and hopefully teach them what to do with it.
I believe the goal of this is to avoid jobs. IMHO, jobs are a destroyer of lives. My dad got a lousy boss and I did too. Power and funds avoids that. Getting a job at all subjects you to that.
I've noticed this seems to be trend lately that many are aspiring to. I'm not sure where it's coming from other than maybe these people had parents who had nothing to pass on to them and want to have money to pass on to their own children. It's understandable but also seems like a lot of pressure for many. Some people can't even afford a home for themselves or don't have much to put into a retirement or savings fund. Many are putting off even having kids for these reason. Now theyre strapped with having money to leave to their kids ?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
We can all make choices about what we want from life and what we want to leave behind. No one has to leave generational wealth if they don't want to. There is literally no one policing this. We can spend every penny we make during our lifetime if we want. If we are fortunate enough to have sufficient resources to invest for future growth, we can also make a plan to have the life we want and still invest and save to leave something to help the next generation have the kind of life they want or to promote a cause or support a charity that has meaning for us. Our choice. Someone else's choice to leave a legacy to family or society is theirs alone and does not mean anyone else with sufficient resources has to make any effort that has no meaning for them. If someone has the means to leave a legacy, they have every right to do so.
Encouraging others not to consider leaving generational wealth is probably not going to stop the people who want to leave generational wealth and have made a plan to do so. Why worry about what other people choose to do?
I've noticed this seems to be trend lately that many are aspiring to. I'm not sure where it's coming from other than maybe these people had parents who had nothing to pass on to them and want to have money to pass on to their own children. It's understandable but also seems like a lot of pressure for many. Some people can't even afford a home for themselves or don't have much to put into a retirement or savings fund. Many are putting off even having kids for these reason. Now theyre strapped with having money to leave to their kids ?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
I don't know if it's a trend (I don't get out much), but I have seen it being discussed a bit on the internet. I think that maybe this has something to do with the recent social/racial unrest; a spotlight being shone upon whatever past in the US led to the some of the inequalities that exist today. People began pointing to opportunities that were denied to them b/c their ancestors didn't have the same chance to accumulate assets as opposed to other groups of people that did have that chance and were thus able to pass along some of those assets to their descendants who now had some monetary/asset 'padding' that would allow them to have more freedom in making choices in life.
Pretty much what you indicate you are doing- leaving a house (probably paid off) to your children... That is wealth from your generation being passed along to the next generation.
As far as being obsessed with money, well again, I don't get out much. But I will say that for a great many people in this country, they may be 'obsessed' with money b/c they don't have any.
I believe the goal of this is to avoid jobs. IMHO, jobs are a destroyer of lives. My dad got a lousy boss and I did too. Power and funds avoids that. Getting a job at all subjects you to that.
Interestingly, many people with hereditary wealth feel the opposite. That is, income without the work is the easiest way to see it eroded within 1-2 generations. This is why you see many folks stair step trust for certain ages or benchmarks (i.e. 35, masters degree, whatever). In my family, funds always skip a generation, for this exact reason, my parents' money will go to my children, I received an inheritance from my grandparents. There was always an expectation to work (at something). Make no mistake - I'm not saying that means working a dead end 9-5, but ensuing the next generation is working to preserve/promote, not detract from that wealth is critical.
I've noticed this seems to be trend lately that many are aspiring to. I'm not sure where it's coming from other than maybe these people had parents who had nothing to pass on to them and want to have money to pass on to their own children. It's understandable but also seems like a lot of pressure for many. Some people can't even afford a home for themselves or don't have much to put into a retirement or savings fund. Many are putting off even having kids for these reason. Now theyre strapped with having money to leave to their kids ?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
I've noticed this seems to be trend lately that many are aspiring to. I'm not sure where it's coming from other than maybe these people had parents who had nothing to pass on to them and want to have money to pass on to their own children. It's understandable but also seems like a lot of pressure for many. Some people can't even afford a home for themselves or don't have much to put into a retirement or savings fund. Many are putting off even having kids for these reason. Now theyre strapped with having money to leave to their kids ?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
It is a personal decision. Our circle spans friends between 20-90, three generations. Some decided no children, others opted for a full house, some pay for college, others taught their children to be resourceful and succesful, some have the American Dream of house on the golf course/money in the bank, others are been there/done that/do not need it anymore. I have not yet met someone who decided against having children because of no potential inheritance for them.
If you feel the need to leave a house. Great! Who knows if it will be a windfall or a burden when that time comes. We took the easy way out and declined our rights to estates.
Are you satisfied? Is your husband satisfied?
There will always be those who are for whatever reasons struggling or overcompensating. Digging in or assessing situations and working on them is not often a popular solution. You can do your share and support them.
US society and every other one for that matter has been based on have and have not. Crossing the line takes effort and dealing with set backs. Please name a country that is different. Why do people come to the US? Most for a better life. And they see it as a way to get there. Some do. Some do not. There are plenty who leave and plenty who stay and build.
It's not something I'm worrying about but I have noticed people talking about it more this year than ever. I'm not sure Ive ever heard the term generational wealth so much and this morning I noticed an article where someone was wearing a Tshirt that says, building generational wealth and i kind of chuckled.
I know plenty of people that have benefitted from their parents wealth to the point of it seems unfair I guess? They're just rich, often times it was handed down from their parents or they had a very successful business. I will get my parents homes when they die, pretty sure that's it. I don't have a big trust fund set up for me and maybe others are like, ok that's it, I want my kids to have a trust fund too so my kids dont sit around hearing about their friends good fortune from their parents/grandparents and feel left out.
Clearly something is driving this for there to be so much 'generational wealth' discussion lately. Ive noticed it seems to be amongst people of color so maybe this is a new concept to them. I've heard they are less likely than whites to own homes. I"m not saying it's a bad thing but just seems like it could be a lot of pressure for some especially as buying a home has become more difficult.
I've noticed this seems to be trend lately that many are aspiring to. I'm not sure where it's coming from other than maybe these people had parents who had nothing to pass on to them and want to have money to pass on to their own children. It's understandable but also seems like a lot of pressure for many. Some people can't even afford a home for themselves or don't have much to put into a retirement or savings fund. Many are putting off even having kids for these reason. Now theyre strapped with having money to leave to their kids ?
I feel like we really have become a society that is obsessed with money and trying to keep up everyone else. My hope is that my kids get good jobs and can support themselves some day. I have the means to send them to college. They'll get my house when I die. Will people never be satisfied?
It must be the aspiration of people who 1) have more money than they know what to do with and 2) don't realize that handouts are a disincentive to earning money. It sounds like a good way to raise lazy, entitled children.
It's not something I'm worrying about but I have noticed people talking about it more this year than ever. I'm not sure Ive ever heard the term generational wealth so much and this morning I noticed an article where someone was wearing a Tshirt that says, building generational wealth and i kind of chuckled.
I know plenty of people that have benefitted from their parents wealth to the point of it seems unfair I guess? They're just rich, often times it was handed down from their parents or they had a very successful business. I will get my parents homes when they die, pretty sure that's it. I don't have a big trust fund set up for me and maybe others are like, ok that's it, I want my kids to have a trust fund too so my kids dont sit around hearing about their friends good fortune from their parents/grandparents and feel left out.
Clearly something is driving this for there to be so much 'generational wealth' discussion lately. Ive noticed it seems to be amongst people of color so maybe this is a new concept to them. I've heard they are less likely than whites to own homes. I"m not saying it's a bad thing but just seems like it could be a lot of pressure for some especially as buying a home has become more difficult.
Fair is a term which should be left behind in the sand box.
You plan on receiving something for free. Great - if it is still there when the time comes. If it is important for you to fit in with the Joneses and have a trust fund for your children - great!
You may want to pull some real stats on homeownership and who owns what outright instead of noticing things about people of color.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
