No. of Recommendations: 1
Bill, you said it pretty darn well. Nice job, well written, straight and effective. These are exactly the issues I've been dealing with in regards to my own kids, and to a certain extent with my mother and my siblings. It would probably be better for all if there was no inheritance, and that all money had to be given to charity at one's death. Kids would be more self-reliant and charities would have more money for useful purposes (like caring for all those destitute rich kids that lost their meal tickets).
My wife and I are purposely forcing our kids to live below our means, perhaps subjecting them to occasional ridicule for the condition and models of our family cars, lack of video games and no cable TV. I hope that it will instill in them a desire to go to college and become successful on their own so they can buy the things their cheapskate parents won't give them. We get the daily "rolling of the eyes" as we explain that they have to take their lunches to school, and that we won't buy something until its on sale. I tell them that they can do it differently when they have their own place after they graduate.
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