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Old 08-16-2009, 06:08 PM   #41
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Originally Posted by FUEGO View Post
Not trying to imply you are overly rich or anything! Just wealthy enough to do what you want to do.
No, I knew. I was just joking.

Anyway, none of the things that I want to do requires that much money or is beyond what the common man typically wants. I just have a very short list, and it gets even shorter with this economic downturn.

I try not to have to worry about having an empty glass by simply having a small glass. See an attached picture of it.

Heh heh heh... And as my taste buds have degraded with middle age, I have been able to refill that glass with cheaper bottles and not being able to tell the difference. Heh heh heh...

"Old age is the most unexpected of all things that can happen to a man" -- Leo Tolstoy
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Old 08-16-2009, 06:30 PM   #42
Give me a museum and I'll fill it. (Picasso)
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When my olderst son was a kid he helped me make a lot of C++ programs to monitor my investments, as well as a general ledger program. So he knew exactly what was going on. However, his interest in money per se is minimal. At this point he is much better off financially than I am, so I doubt he gives this topic any mind.

My youngest son I think realizes that with no pension, only Medicare for health ins, and fairly high living expenses there is a lot of insecurity about final values for my estate. I think they both will be very happy if I (and their mother) manage to stay independent and OK. They are and have always been very self-reliant men.

I definitely believe in pasing any wealth I do have along to my children if I have any to pass. From what I have seen of the way charities, university endowments, etc run roughshod over donors' wishes I would sooner burn my money than give it to them.


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Old 08-17-2009, 07:54 PM   #43
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Hmm, kind of in the minority here on this, but my 12 yr old daughter knows our current net worth.

The reason that she was made aware of it is that in explaining why we live a fairly cushy lifestyle as a family (education, entrepreneurship, investments, home ownership, huge amounts of luck) compared to most of her friends I thought it important to let her know that prior to her birth and up until she was about 5, that there was no way that we could have afforded the money to go on (or take her on) yearly Caribbean vacations, and cruises, or to afford a lake lot with ATVs and Sea doos etc. because our net worth was $.....(a small fraction of today)

She knows to keep the numbers to herself, and I am very confident in her in that respect.

We live below our means, but currently our means are fairly high. I won't live counting pennies if I don't have to, but I worry about the potentially ugly tradeoff of having my daughter become accustomed to this lifestyle and not know what it is to wonder what to cut back on in order to buy groceries. Trust me, when she goes to college she will find out, but despite my highly entertaining speeches, scary things like inability to budget, no appreciation for Walmart, and runaway credit card debt worry me.
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Old 08-18-2009, 04:19 PM   #44
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This just came up in our house the other day. Grown son says I never told him anything and kept him in the dark while he grew up, which was done so that there would be zero chance of him repeating anything about personal affairs to anyone. He is a tad resentful, but seemed to understand the necessity of this. Plus, why would I ever want to make my child my confident in these matters when he was little? I really strongly believed in separation of parent and child as a single parent or, in other words, my goal was not to be his friend but his mother.
He hasn't asked for an advance, and, at this time, feels he is old enough and competent enough to take care of himself. Or I hope so, anyway.
He always had most everything he needed, but I always let him realize that money didn't grow on trees yadda, yadda, yadda so he wouldn't think we had much anyway. Pretty traditional childhood probably. Plus, I always made sure I worked mostly from home, so he definitely understood that Mom had to work hard for everything we had. Good lesson in some ways as he has worked long hours from his first jobs and never insisted on working only until 5 pm.
He doesn't seem too scarred at this time.

Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
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