“The more you can pass on goods to your children, the less they have to spend building their lives and the more they can spend building wealth.”
That was sound logic of yesteryear. And I am practicing it now so my children have something a little extra to make like easier.
But I have witnessed many of today’s children spending their potential inheritance to the point of literally bankrupting the parents. When their parents pass there will be nothing left and the kids will not have the life skills to build their own wealth, let alone provide for their own mere existence.
I realize this is poor parenting on so many levels, but it is a trend.
One of my kids borrowed some of his college money from us. He paid it all back this week along with a note that said now his inheritance is pure profit. :)