Home Forums Hunting & Shooting Hunter's Campfire Need to vent on generational wealth

Those not used to managing money usually destroy themselves when they suddenly come into wealth. Their lack of emotional intelligence means they only focus on their own immediate emotional wants, which always outstrips the money available to them. As an example, there was a chunt secretary to the CEO at my then employer. She won five million dollars in the lottery and gleefully told us all to suck it. A couple years later, she was back again working as a secretary but now divorced and broke. Hubby (and probably her to a certain extent) got into drugs, bought a bunch of stupid crap. Went on extremely lavish vacations spending hundreds of thousands each time, etc. Later, she stated she wished she never had won that money.

You hit the nail on the head Ben! If a person had idiot kids that you actually cared about, one would set up a trust with a generation skipping transfer. That way the idiot kids could not sell the house since it’s not theirs. They would only have life tenancy . I had a friend that inherited a good chunk of money. Other 2 brothers got nothing. My friends youngest son was into drugs, no job. Friend let his son move into a house he inherited. About a year later the city was going to condemn the house. Garbage piled up in the backyard and constant drug traffic. My friend kicked out the son and sold the house for Penny’s on the dollar. Friend then adopts the sons daughter. Moves the granddaughter into his house. Granddaughter is about 15 . Buys her a phone, etc, etc. granddaughter has $700 a month phone bills. Her friends come over and begin stealing stuff. Granddaughter gets knocked up by a deadbeat. Friend allows deadbeat to move in his home. Deadbeat starts beating granddaughter. Deadbeat is tossed out. Granddaughter has baby and is stealing from my friend. At that time I ended my friendship with the old guy. It made me sick just being around it. Friend just died and I have mixed feelings about it . It’s hard to fix brooken people!

I think of money as an amplifier. It amplifies the good in good people, the bad in bad people, the stupid in the rest.

You really need to find out how the tunnels to towers CEO who is the brother of a dead fireman became a multi millionaire. He won't disclose the info but he sure was not one before forming that "non profit".

The same scenario usually plays out with the majority of non profits. Even our beloved NRA and Billy and Franklin Graham

I concur. Money doesn’t change you. It amplifies who you really are.

The most valuable thing my father taught me was the judicious use of money. He did not pay interest and understood that money could easily leave mostly undetected in small amounts for things you don't need.

Arithmetic is your friend and will inform you as to what will work and what won't. As Ben Franklin said "watch the pennies and the dollars will take care of themselves'' and ''a small leak will sink a big ship''.

To care about what happens with wealth after one is dead is the ultimate definition vanity.

Amen. The same with age. Age doesn't make one a prick. If you're a prick at 70, it's because you were one at 20.

That I do not agree with. I have children and grandchildren that I want to help along. They are well educated and self supporting and the grandchildren are doing well in school.

To care about what happens with wealth after one is dead is the ultimate definition vanity.[/qoute

Jake look at it as a principal. If the transtard wants to live free milk the system why in the world would I want to help promote that

Not unlike alcohol.

I understand and agree, but the point remains, who know what will happen with it after you are gone. He's not talking about HIS children and the wife will do what she will do.

Again, deal with the living and don't worry about it when you're dead, because you're dead.

You're dead, it's no longer your concern. Again, vanity.

If you are REALLY that concerned, you would kill them whilst you are living, right?

You have a duty to your family to try to leave them a little better off. You do not have the right nor should you concern yourself with trying to control them after you are gone.

Kill no but if I could legally find a way to get that idoit kicked out of unemployment and stop this lie of disability I sure as hell would

Find a local community college or university and fund a scholarship for whatever you want to fund it for. Could be Wildlife management, gunsmithing, nursing, etc. Help out a young person who wants to better their station in life. You set the parameters on the scholarship. That is what my wife and I plan to do if things don’t work out as planned.

What if the stepdaughter's partner ends up getting a scholarship from that endowment? I guess you could exclude transgenders from being eligible .

Not trying to be a smart ass,
but if I were 57 & had a net worth of 1mil.
I wouldn't be worried about how much I was leaving anyone.
I'd be more worried about it being enough for the next 35 years at my house.
Sadly, a million in today's dollars is not what it was 40 years ago & it ain't gonna get better, I fear.
My .02

You could buy some land and then leave it to a trust to be put into a public hunting program.