The decision to leave an inheritance for your children is something that I think about quite a bit. After all, what are we saving all of this money up for anyway?
It’s the same philosophy with lottery winners and professional athletes that quickly come into money. Yet, repeatedly, we see that people who receive large sums of money don’t know how to handle it properly.
My view is if they aren’t able to make it in life with that kind of head start, then the promise of more money later in life will likely do more harm than good.
As parents, we all think we are doing what’s best to raise our kids. At the same time, they are their people, and sometimes things don’t always turn out the way we hope.