Current Events > 70% of millionaires are worried about leaving 'too much' money to their kids

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Lebronwon 09/19/21 4:17:11 PM #1:	https://www.cnbc.com/2021/09/19/millionaires-are-worried-about-leaving-their-kids-too-much-money.html Wealthy celebrities like Daniel Craig and entrepreneurs like Warren Buffett and Kevin OLeary arent the only ones concerned about leaving too much money to their children: Millionaires are increasingly worried about how much of their fortunes to give to their kids. Thats according to a survey conducted by The Motley Fool, which asked 2,000 high net worth individuals classified as people with a net worth over $1 million about their attitudes toward inheritances. Among the top concerns the individuals surveyed had was the possibility of leaving too much money for their heirs, something that 67% of respondents mentioned. The respondents had numerous concerns about the effects of leaving too much money to their heirs, including that the wealth would be used irresponsibly or that it would cause beneficiaries to be lazy. Whats clear is that high net worth individuals are concerned about the effects of leaving too large an inheritance, Motley Fool research analyst Jack Caporal tells CNBC Make It. They are aware of and actively considering leaving inheritances with conditions that incentivize their heirs to pick up on values that they think are important, such as hard work, doing well in school and finding a good career track. The survey found that 85% of high net worth individuals who had to meet certain conditions to receive their own inheritance agree that it is possible to leave too much money to an heir. Among respondents who received an inheritance worth between $500,000 and $1 million, 84% agreed. The results and their responses were definitely guided by their own experiences, which is interesting because you get a sense from them that these were not unfounded concerns, but that they relate to their own experiences having inherited a lot of wealth, Caporal says. --- Not 1, not 2, not 3, not 4, not 5, not 6, not 7 <cite>Lebronwon posted [p:958207932] in 70% of mil... [t:79669305]...</cite> <quote>https://www.cnbc.com/2021/09/19/millionaires-are-worried-about-leaving-their-kids-too-much-money.html Wealthy celebrities like Daniel Craig and entrepreneurs like Warren Buffett and Kevin OLeary arent the only ones concerned about leaving too much money to their children: Millionaires are increasingly worried about how much of their fortunes to give to their kids. Thats according to a survey conducted by The Motley Fool, which asked 2,000 high net worth individuals classified as people with a net worth over $1 million about their attitudes toward inheritances. Among the top concerns the individuals surveyed had was the possibility of leaving too much money for their heirs, something that 67% of respondents mentioned. The respondents had numerous concerns about the effects of leaving too much money to their heirs, including that the wealth would be used irresponsibly or that it would cause beneficiaries to be lazy. Whats clear is that high net worth individuals are concerned about the effects of leaving too large an inheritance, Motley Fool research analyst Jack Caporal tells CNBC Make It. They are aware of and actively considering leaving inheritances with conditions that incentivize their heirs to pick up on values that they think are important, such as hard work, doing well in school and finding a good career track. The survey found that 85% of high net worth individuals who had to meet certain conditions to receive their own inheritance agree that it is possible to leave too much money to an heir. Among respondents who received an inheritance worth between $500,000 and $1 million, 84% agreed. The results and their responses were definitely guided by their own experiences, which is interesting because you get a sense from them that these were not unfounded concerns, but that they relate to their own experiences having inherited a lot of wealth, Caporal says. </quote> ... Copied to Clipboard!
Tappor 09/19/21 4:19:14 PM #2:	Wish I had this problem --- There is no signature; take off your clothes. <cite>Tappor posted [p:958207988] in 70% of mil... [t:79669305]...</cite> <quote>Wish I had this problem </quote> ... Copied to Clipboard!
__aCEr__ 09/19/21 4:19:22 PM #3:	Now that's a problem that will keep you up at night. --- See you next Wednesday. <cite>__aCEr__ posted [p:958207994] in 70% of mil... [t:79669305]...</cite> <quote>Now that's a problem that will keep you up at night. </quote> ... Copied to Clipboard!
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Giblet_Enjoyer 09/19/21 4:33:39 PM #6:	mobilebloechel posted... I have the same problem. No you don't. Sad larp --- He which make friends with scorpion, soon come to find out what a scorpion does - they bite people with its tail --ancient Chinese proverb <cite>Giblet_Enjoyer posted [p:958208454] in 70% of mil... [t:79669305]...</cite> <quote>mobilebloechel posted... </cite> <quote>I have the same problem.</quote>No you don't. Sad larp </quote> ... Copied to Clipboard!
Middle hope 09/19/21 4:34:33 PM #7:	Give your kids everything. Set them up as well as possible --- https://imgur.com/iQep35u https://imgur.com/PmX8smn https://imgur.com/mwTy0iF https://imgur.com/FCER80e <cite>Middle hope posted [p:958208485] in 70% of mil... [t:79669305]...</cite> <quote>Give your kids everything. Set them up as well as possible </quote> ... Copied to Clipboard!
Lost_All_Senses 09/19/21 4:36:35 PM #8:	I got a tip. Stop worrying about making as much money as humanly possible and worry about raising your kids yourself so they can be responsible with the money you leave them and they'll know how to continue making it work for them. Or, you know, just don't and have your kids burn through it immediately after you die cause you didn't teach them any life skills. --- Name checks out "I don't wanna be the toughest, I just keep it 100 and think nothin of it"- Black Thought <cite>Lost_All_Senses posted [p:958208547] in 70% of mil... [t:79669305]...</cite> <quote>I got a tip. Stop worrying about making as much money as humanly possible and worry about raising your kids yourself so they can be responsible with the money you leave them and they'll know how to continue making it work for them. Or, you know, just don't and have your kids burn through it immediately after you die cause you didn't teach them any life skills. </quote> ... Copied to Clipboard!
Jiek_Fafn 09/19/21 4:37:05 PM #9:	Thats great but they could easily solve this problem before they pass. For reasons unknown it appears most have decided not to --- I don't believe in belts. There should be no ranking system for toughness. <cite>Jiek_Fafn posted [p:958208567] in 70% of mil... [t:79669305]...</cite> <quote>Thats great but they could easily solve this problem before they pass. For reasons unknown it appears most have decided not to </quote> ... Copied to Clipboard!
Derwood 09/19/21 4:38:25 PM #10:	Fucking boomers, jesus christ <cite>Derwood posted [p:958208625] in 70% of mil... [t:79669305]...</cite> <quote>Fucking boomers, jesus christ </quote> ... Copied to Clipboard!
DarthAragorn 09/19/21 4:40:26 PM #11:	Oh no, let me play the world's smallest violin for them Fucking shitstains --- MSI MEG X570 Unify \| Ryzen 7 5800X \| 32GB DDR4-3600 \| RTX 3080 Samsung Odyssey G7 32" - 1440p, 240hz, GSync <cite>DarthAragorn posted [p:958208700] in 70% of mil... [t:79669305]...</cite> <quote>Oh no, let me play the world's smallest violin for them Fucking shitstains </quote> ... Copied to Clipboard!
Kloe_Rinz 09/19/21 4:40:44 PM #12:	Rich people dont have problems <cite>Kloe_Rinz posted [p:958208710] in 70% of mil... [t:79669305]...</cite> <quote>Rich people dont have problems </quote> ... Copied to Clipboard!
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YookaLaylee 09/19/21 4:41:34 PM #14:	Kloe_Rinz posted... Rich people dont have problems Aren't a lot of them drug and sex addicts? --- Fire tempers iron and temptation steels the just <cite>YookaLaylee posted [p:958208741] in 70% of mil... [t:79669305]...</cite> <quote>Kloe_Rinz posted...</cite> <quote>Rich people dont have problems </quote> Aren't a lot of them drug and sex addicts?</quote> ... Copied to Clipboard!
Shadow Don 09/19/21 4:41:45 PM #15:	I can un-ironically understand their concern when you see trumps bozo kids or people like Wyatt Koch. --- "The soul in the darkness sins, but the real sinner is he who caused the darkness." - Victor Hugo <cite>Shadow Don posted [p:958208749] in 70% of mil... [t:79669305]...</cite> <quote>I can un-ironically understand their concern when you see trumps bozo kids or people like Wyatt Koch. </quote> ... Copied to Clipboard!
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Lost_All_Senses 09/19/21 5:06:37 PM #17:	YookaLaylee posted... Aren't a lot of them drug and sex addicts? I'm hoping that was sarcasm. --- Name checks out "I don't wanna be the toughest, I just keep it 100 and think nothin of it"- Black Thought <cite>Lost_All_Senses posted [p:958209529] in 70% of mil... [t:79669305]...</cite> <quote>YookaLaylee posted... </cite> <quote>Aren't a lot of them drug and sex addicts?</quote> I'm hoping that was sarcasm. </quote> ... Copied to Clipboard!
HylianFox 09/19/21 5:36:06 PM #18:	Yet these are the same people who are all "we deserve every cent we make" --- This is my signature until I can think of a better one. <cite>HylianFox posted [p:958210456] in 70% of mil... [t:79669305]...</cite> <quote>Yet these are the same people who are all "we deserve every cent we make" </quote> ... Copied to Clipboard!
thronedfire2 09/19/21 5:38:39 PM #19:	YookaLaylee posted... Aren't a lot of them drug and sex addicts? Yeah but when youre rich thats not a problem, its a hobby --- I could see you, but I couldn't hear you You were holding your hat in the breeze Turning away from me In this moment you were stolen... <cite>thronedfire2 posted [p:958210553] in 70% of mil... [t:79669305]...</cite> <quote>YookaLaylee posted... </cite> <quote>Aren't a lot of them drug and sex addicts?</quote> Yeah but when youre rich thats not a problem, its a hobby </quote> ... Copied to Clipboard!
Lost_All_Senses 09/19/21 5:38:47 PM #20:	HylianFox posted... Yet these are the same people who are all "we deserve every cent we make" I think that's just a matter of feeling like doing something makes you feel like you deserve everything. You don't compare it to others who do more and get way less. You just see your own input and take out. It's a dramatic version of a reasonable core. You do more you, you get more. But don't pretend like you're rich and others are poor just cause you do more than them. Cause a lot of them get caught up into that mindstate once they're only around other rich people and detached from struggle. That's why if you're rich, you should do community service at least once a month or something. Remind yourself how the world actually works. --- Name checks out "I don't wanna be the toughest, I just keep it 100 and think nothin of it"- Black Thought <cite>Lost_All_Senses posted [p:958210557] in 70% of mil... [t:79669305]...</cite> <quote>HylianFox posted... </cite> <quote>Yet these are the same people who are all "we deserve every cent we make"</quote> I think that's just a matter of feeling like doing something makes you feel like you deserve everything. You don't compare it to others who do more and get way less. You just see your own input and take out. It's a dramatic version of a reasonable core. You do more you, you get more. But don't pretend like you're rich and others are poor just cause you do more than them. Cause a lot of them get caught up into that mindstate once they're only around other rich people and detached from struggle. That's why if you're rich, you should do community service at least once a month or something. Remind yourself how the world actually works. </quote> ... Copied to Clipboard!
Kisai 09/19/21 5:40:24 PM #21:	Well, if they're worried about leaving too much to their kids, they can give some of that money to me, if they want... --- WHO MODS THE MODERATORS? <cite>Kisai posted [p:958210603] in 70% of mil... [t:79669305]...</cite> <quote>Well, if they're worried about leaving too much to their kids, they can give some of that money to me, if they want... </quote> ... Copied to Clipboard!
Prismsblade 09/19/21 5:51:46 PM #22:	Lost_All_Senses posted... I got a tip. Stop worrying about making as much money as humanly possible and worry about raising your kids yourself so they can be responsible with the money you leave them and they'll know how to continue making it work for them. Or, you know, just don't and have your kids burn through it immediately after you die cause you didn't teach them any life skills. Good and stable families longterm suddenly fighting over large or even just minor inheritances are not uncommon. For me If I were in their shoes I'd give my younger relatives enough for both college and a down-payment on a house once they enter into adulthood and that's it. Older ones enough for just a down payment on a decent home. And elderly enough to live in luxery till they die. --- 3DS FC:3368-5403-9633 Name: Kaizer PSN: Blackkaizer <cite>Prismsblade posted [p:958210997] in 70% of mil... [t:79669305]...</cite> <quote>Lost_All_Senses posted... </cite> <quote>I got a tip. Stop worrying about making as much money as humanly possible and worry about raising your kids yourself so they can be responsible with the money you leave them and they'll know how to continue making it work for them. Or, you know, just don't and have your kids burn through it immediately after you die cause you didn't teach them any life skills.</quote>Good and stable families longterm suddenly fighting over large or even just minor inheritances are not uncommon. For me If I were in their shoes I'd give my younger relatives enough for both college and a down-payment on a house once they enter into adulthood and that's it. Older ones enough for just a down payment on a decent home. And elderly enough to live in luxery till they die. </quote> ... Copied to Clipboard!
Quicksilver 09/19/21 6:02:19 PM #23:	What is the purpose of this story to make normal people think twice about leaving their kids 15k and maybe a house when they die because the super wealthy are not giving their kids inheritance? Like sorry kids Warren Buffet didn't leave his kids millions of dollars so I won't be giving you any money to help lessen your debts and this house you can't have enjoy paying rent all your life. These stories are so weird because 99% of people cannot relate to it at all. --- I play video games. <cite>Quicksilver posted [p:958211330] in 70% of mil... [t:79669305]...</cite> <quote>What is the purpose of this story to make normal people think twice about leaving their kids 15k and maybe a house when they die because the super wealthy are not giving their kids inheritance? Like sorry kids Warren Buffet didn't leave his kids millions of dollars so I won't be giving you any money to help lessen your debts and this house you can't have enjoy paying rent all your life. These stories are so weird because 99% of people cannot relate to it at all. </quote> ... Copied to Clipboard!
Cheater87 09/19/21 6:08:02 PM #24:	Then donate some. --- Doom, the game with unlimited ways to play. <cite>Cheater87 posted [p:958211514] in 70% of mil... [t:79669305]...</cite> <quote>Then donate some. </quote> ... Copied to Clipboard!
UnholyMudcrab 09/19/21 6:10:12 PM #25:	Eat the fucking rich --- https://imgur.com/VeNBg https://imgur.com/gd5jC8q https://imgur.com/PKIy7 https://imgur.com/3p29JqP <cite>UnholyMudcrab posted [p:958211590] in 70% of mil... [t:79669305]...</cite> <quote>Eat the fucking rich </quote> ... Copied to Clipboard!
RchHomieQuanChi 09/19/21 6:10:47 PM #26:	UnholyMudcrab posted... Eat the fucking rich Add some delicious seasoning too --- I have nothing else to say <cite>RchHomieQuanChi posted [p:958211606] in 70% of mil... [t:79669305]...</cite> <quote>UnholyMudcrab posted... </cite> <quote>Eat the fucking rich</quote> Add some delicious seasoning too </quote> ... Copied to Clipboard!
The Wheelman1 09/19/21 6:15:16 PM #27:	Kids should get SOME of the money but not all of it. If they want more then they will have to work for it. --- XBox Live GT: MastaMez PSN: KoolMez The Topic Killer \_0_/ <cite>The Wheelman1 posted [p:958211758] in 70% of mil... [t:79669305]...</cite> <quote>Kids should get SOME of the money but not all of it. If they want more then they will have to work for it. </quote> ... Copied to Clipboard!
IShall_Run_Amok 09/19/21 6:19:31 PM #28:	As they should. Affluence doesn't lead to healthy behaviors. If only society were designed to bring out the most in people, rather than a system dedicated to useless and unhealthy wealth acquisition... --- Hard times (happiest days of my life) hard times gone by <cite>IShall_Run_Amok posted [p:958211889] in 70% of mil... [t:79669305]...</cite> <quote>As they should. Affluence doesn't lead to healthy behaviors. If only society were designed to bring out the most in people, rather than a system dedicated to useless and unhealthy wealth acquisition... </quote> ... Copied to Clipboard!
Grischnak 09/19/21 6:29:31 PM #29:	It's not a relatable problem but it is a problem. For example, lets say your kid has a drug problem, do really think leaving them a bunch of money would be in their best interests? I'm gonna think no. <cite>Grischnak posted [p:958212179] in 70% of mil... [t:79669305]...</cite> <quote>It's not a relatable problem but it is a problem. For example, lets say your kid has a drug problem, do really think leaving them a bunch of money would be in their best interests? I'm gonna think no. </quote> ... Copied to Clipboard!
Lost_All_Senses 09/19/21 6:51:13 PM #30:	Prismsblade posted... Good and stable families longterm suddenly fighting over large or even just minor inheritances are not uncommon. For me If I were in their shoes I'd give my younger relatives enough for both college and a down-payment on a house once they enter into adulthood and that's it. Older ones enough for just a down payment on a decent home. And elderly enough to live in luxery till they die. Reasonable. I've had cousins that were left houses and immediately fucked that house up and lost it tho >_>. There always needs to be some type of evaluation. And I say this being one out of 4 that definitely wouldn't be the one to give the money. You'd give it to my sister who knows about investing and shit then leave it up to her to help the rest if they fall too hard. Responsibility should be rewarded, not just existing. And right now, though I help family members out with stuff like watching kids for free, I'm mostly just existing. Like, don't just throw a bunch of money at me cause I'll probably just sit on it and not know how to flip it atm. I just don't care about money like the rest the world obsesses with it. Take note of these things, hopefully you're getting to at least your 60s before dying. Im early 30s and understand this lol. --- Name checks out "I don't wanna be the toughest, I just keep it 100 and think nothin of it"- Black Thought <cite>Lost_All_Senses posted [p:958212825] in 70% of mil... [t:79669305]...</cite> <quote>Prismsblade posted... </cite> <quote>Good and stable families longterm suddenly fighting over large or even just minor inheritances are not uncommon. For me If I were in their shoes I'd give my younger relatives enough for both college and a down-payment on a house once they enter into adulthood and that's it. Older ones enough for just a down payment on a decent home. And elderly enough to live in luxery till they die.</quote> Reasonable. I've had cousins that were left houses and immediately fucked that house up and lost it tho >_>. There always needs to be some type of evaluation. And I say this being one out of 4 that definitely wouldn't be the one to give the money. You'd give it to my sister who knows about investing and shit then leave it up to her to help the rest if they fall too hard. Responsibility should be rewarded, not just existing. And right now, though I help family members out with stuff like watching kids for free, I'm mostly just existing. Like, don't just throw a bunch of money at me cause I'll probably just sit on it and not know how to flip it atm. I just don't care about money like the rest the world obsesses with it. Take note of these things, hopefully you're getting to at least your 60s before dying. Im early 30s and understand this lol. </quote> ... Copied to Clipboard!
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Current Events > 70% of millionaires are worried about leaving 'too much' money to their kids (+) Yeah! (+)

Current Events > 70% of millionaires are worried about leaving 'too much' money to their kids