We all love our children … very much of course and we express our love for our kids in many ways. One very common way that many parents show their love for their kids is by accumulating for their kids ... they have their reasons for doing so.
Seriously, many parents will use a very large portion (or in some cases, most) of the income they earned for the purpose of building and accumulating for what I called the Kid’s Inheritance.
And there are those who will slogged and worked their asses off not because they have not saved and accumulated enough for themselves to see them through their later years … they slogged, they worked way over their retirement age because they are always worried that they may not have accumulated enough for their children. So they keep working to build the Kid’s Inheritance … some even worked until they cannot worked anymore.
For me, as a parent, I think what is important for my kids is that I provide for them, and provide the best that I can afford until the day they are to face the world themselves because I love my kids and also because it is my responsibility to ensure that they grow up with whatever needed to be a good person. Of course I will accumulate too ... but it is for me and my wife, NOT for my kids. Maybe if there is anything left when we both called it a day … then that is what my kids will get from what I have accumulated.
My point is … provide for the kids, provide the best that you can afford and provide according to whatever they need while they are growing up so that when they are old enough to face the world, they will have a strong foundation to fend for themselves and face the world with confidence. There is NO NEED to leave an inheritance.
I am sure there are many parents who will disagree with me … those who willing to slog, work, save and accumulate to keep building their Kid’s Inheritance … maybe because they love their kids a lot more than I do.
Hey, I am not against what these parents do with what they have accumulated … I just beg to differ. For now, I am providing for my kids until they are ready to face the world by themselves. After that, I will spend what I have slogged, saved and accumulated … you know what I will be doing?
I will be SKI-ing … Spending (the) Kid’s Inheritance !