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Subject:  How do you leave it behind ??? Date:  10/29/2000  8:51 PM
Author:  ntp07 Number:  25832 of 90137

Dear Fellow Fools,

I would like your suggestions as to how to leave money behind for prosterity. I am 29 year old female. I am not marry and have no children of my own. I know at the age of 29 most people would think about fun places that they would go instead of wills and trusts. However, I see it is wise to have a will or trust and in doing so I have being struggling with this issue.

I have 20 nephews and nieces. and my experience with my four adult nephews (age 18 to 25) is that three of them I gave them the money and taught them how to invest and showed them the power of compounding interest. Well three of them took the money either gambled or spent them, except one kid who is the youngest out of the four kids did not. He took the money use mechanical investment strategy and put in some of his hard earned money and build an IRA nest egg of 16k in two years.
With this experience, it just reinforced the idea of he who knows how to handle money will have money, and he who squanders them will have none. I don't want to leave money behind to those who will squander them, and there are some charities that I would like to give and know that it will be put to good use. So parents and grandparents out there how much are you obligated to give to family. I do not have children therefore I don't know how make this judgement. I have a net worth of 150k and life insurance of 350k which is half a mil.

your suggestions are greatly appreciated

thank you
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