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Author: rosietomato Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308480  
Subject: Re: Gifting to sister: told me so? Date: 9/12/2005 1:32 PM
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>What he found is that if the parents gave a lot of money over the years to their children, mostly so that their children "wouldn't have to struggle like they did" or to "give them a leg up". It actually hurt their children's chances to become successful. The children learned that mommy and daddy would take care of them no matter what, and didn't learn the drive and/or money management skills that it takes to be an adult. They ended up living above their means with mommy and daddy making up the difference.
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Interesting. Did anyone see last weeks' 60 min or Current Affairs or one of those types of shows where they analyzed Generation Y (babies of the baby boomers), a generation of kids who still believe mommy and daddy will take care of them? Colleges are finding that these kids (who are now entering college) call their folks whenever they run in to problems and have the folks call the teachers or deans instead of dealing with life themselves.

Sad and scary. Hopefully life will tap them on the side of the head before they get into too deep of trouble.
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