Are we creating "weak men"?

[zesty]

I have also heard people talk about inheritances they are counting on, almost as if they are "entitled to it"

I am hoping to leave a stealthy inheritance to my nieces and nephews.

No inheritance is coming for me though. In the least optimal case, I expect to need to spend $500 thousand or $1 million to provide for my parents retirement.

 

[Bigdawg]

For that effort I earned the sobriquet "Leonardo".

"Sobriquet"? Wholly smokes Walt. Keep it simple. Us GI Joes use "Call Sign". Yours is obviously "Leonardo". Maverick sends.

 

[aja8888]

"Sobriquet"? Wholly smokes Walt. Keep it simple. Us GI Joes use "Call Sign". Yours is obviously "Leonardo". Maverick sends.

Whoa....I had to look that word up. I guess I went to the wrong schools!

 

[Winemaker]

I thought this thread was going to be about all the hormones in our drinking water from birth control pills. That and all other medications that get peed into our sewage systems, and into our drinking water.

 

[aja8888]

I can see the four Yorkshiremen showing up here soon.

I hope so, I kind of relate to those guys as I remember my childhood suffering. But I ended up with a pretty good golf game and a few decent wives (over time).

 

[Scuba]

I thought this thread was going to be about every kid nowadays getting a participation trophy, and dumbing down education to the lowest common denominator. Not to mention coddling every person who gets offended about something. Then again, I suppose the “older generation” always worries more about the direction things are going and so far, it’s worked out ok.

 

[Amethyst]

You must have me on ignore

"Sobriquet"? Wholly smokes Walt. Keep it simple. Us GI Joes use "Call Sign". Yours is obviously "Leonardo". Maverick sends.

 

[idledancer]

It's not the weak men thing that worries me but the FIRE movement. Let me explain as I'm seeing it first-hand at work, many have saved in their 401ks and have pensions and are now retiring early between the ages of 55 and 60 based on the market returns. If you look at the performance of the stock market the last 20 or so years it now provides a better annual return than working. This creates a feedback loop invest watch investments rocket up and retire early living off the investment returns. If everyone does this who will want to work and what does it do to economic growth. (…)

New technologies and problem solving paradigms are allowing a single, open minded, worker to create tools that do the work of 100, or more, traditional workers. If that person can do the work of 100 others in a short period, and create something that allows other do for the same in perpetuity, I’d say they’ve earned the right to live off of that.

Does that person, who has done the work of 100 men, still count as a weak man if they don’t feel like changing their own oil on the weekend?

 

[bolt]

This is one of the reasons I don't plan to leave much to our kids. No risk of influencing their strength or weakness.

Let the good times roll...

Outstanding response!
What! No inheritance? you mean I might have to work ?

Seems your thinkings akin to Gates, and Buffett in this era eeh?
I agree.

I'm fond of local animal shelters to re-route left over funding.
Youths are spoiled rotten in my circles. Let 'em eat cake!
The worlds becoming a stage worse than it was 50+yrs ago.
I'm not continuing.

Good luck & Best wishes....

 

[UnrealizedPotential]

This is one of the reasons I don't plan to leave much to our kids. No risk of influencing their strength or weakness.

Let the good times roll...

But then where would the money end up if not to the kids? I remember one time someone told me their grandfather set it up so his grandchildren wouldn't get any of his money until they reached the age of 60. He didn't feel they would be responsible enough until such time.

I don't know. Each of us has to make that decision or it will be made for us.

 

[Gumby]

The young wife and I have no children, and it is likely that I will predecease her, so this all may be moot. But, if it were my choice alone, I think I would give all my money to my oldest nephew, who also has no children. To my thinking, there should always be one rich person in the family to follow in my footsteps and be the emergency funder of last resort when family members fall into difficulty (which they often do). If I give it to any of my nephews with children, they will split it up among those children and dissipate it. It is, of course, not legally enforceable at all, but I would suggest that my favored nephew also exercise similar discretion in growing and eventually passing it on. In my dreams, I see a long line of childless uncles working to grow the family fortune. Ultimately, my goal is that someone down the family line will have sufficient funds to make a real difference in this world.

 

[GreenEggs]

At the rate things are going with the climate & pollution I have to wonder how much it will cost for future generations to survive. How much will food, water, and housing cost in 50 more years?

I'm not sure we really need to worry about whether we leave a lot of $$$ to our kids or not, considering the environment that they're inheriting.

 

[audreyh1]

But then where would the money end up if not to the kids? I remember one time someone told me their grandfather set it up so his grandchildren wouldn't get any of his money until they reached the age of 60. He didn't feel they would be responsible enough until such time.

I don't know. Each of us has to make that decision or it will be made for us.

I think he just means that he plans to spend most of it rather than passing a lot on when he dies.

 

[Markola]

Are we creating "weak men"?

The young wife and I have no children, and it is likely that I will predecease her, so this all may be moot. But, if it were my choice alone, I think I would give all my money to my oldest nephew, who also has no children. To my thinking, there should always be one rich person in the family to follow in my footsteps and be the emergency funder of last resort when family members fall into difficulty (which they often do). If I give it to any of my nephews with children, they will split it up among those children and dissipate it. It is, of course, not legally enforceable at all, but I would suggest that my favored nephew also exercise similar discretion in growing and eventually passing it on. In my dreams, I see a long line of childless uncles working to grow the family fortune. Ultimately, my goal is that someone down the family line will have sufficient funds to make a real difference in this world.

That’s how they preserved wealth in feudal times - the oldest son, usually, got the manor house and lands and all of the children were married off as strategically as possible to grow the family fortune through a series of mergers and acquisitions. The Church protected, and still does, it’s massive wealth by not allowing marriage or (legitimate) children in the first place.

 

[youbet]

^^^^^

Yes indeed. This is how it is done.

Today business owners and farmers face the same kind of problem. If you have several kids, the business/farm may not be large enough to divide and still survive.

 

[Live Free]

I plan on leaving all my $$$ to my kids. I worked for my money, saved it for my use, and if there are left overs I hope it will give them and their offspring a life-boost. I feel fine about it and don't think it will turn them into weaklings. They studied hard in college, work FT at difficult jobs, are trying to get ahead, and are saving for their own retirement. I guess I might feel differently if they seem entitled and were lazy. They aren't any of that. They are great people and I like them a lot.

I currently serve on a Board that gives out grants and scholarships to deserving young people graduating from both HS and undergrad (heading to grad school). Most of these scholarships are for those going into the sciences. We review TONS of applications. You would not believe how accomplished these young people are. They are WAY more motivated and industrious than I ever was in HS or college. When I hear older generations despair about today's youth, I wish they could see the hundreds of resumes and portfolios I see each year. The computer age has allowed the younger generations to have access to so much more information and research than we had in the microfiche/card catalog/library days and it has unleashed their imaginations and they have incredible research goals. Fear not! These kids will be just fine.

 

[Winemaker]

That’s how they preserved wealth in feudal times - the oldest son, usually, got the manor house and lands and all of the children were married off as strategically as possible to grow the family fortune through a series of mergers and acquisitions. The Church protected, and still does, it’s massive wealth by not allowing marriage or (legitimate) children in the first place.

Even the poor folk carried on the custom into the 1900's, but it came with the stipulation that the first born son took care of the aging parents. If the firstborn left for America, the 2nd oldest son got the property.

But don't forget the husband's family got a dowry for every daughter.

https://www.jstor.org/stable/3773353

 

[tmm99]

I currently serve on a Board that gives out grants and scholarships to deserving young people graduating from both HS and undergrad (heading to grad school). Most of these scholarships are for those going into the sciences. We review TONS of applications. You would not believe how accomplished these young people are. They are WAY more motivated and industrious than I ever was in HS or college. When I hear older generations despair about today's youth, I wish they could see the hundreds of resumes and portfolios I see each year. The computer age has allowed the younger generations to have access to so much more information and research than we had in the microfiche/card catalog/library days and it has unleashed their imaginations and they have incredible research goals. Fear not! These kids will be just fine.

I don't mean to discredit what you're saying, but those kids you mention are the cream of the crop. Those are the ones with drives and ambitions. Being raised in the Internet age helped them tremendously, no doubt. The advancement in technologies probably also helped many kids be stuck playing video games all day too. Those are the ones I'm worried about.

 

[Amethyst]

Live Free, I felt the same way about the young people I interviewed or supervised during my last 15 years of w*rk. Besides having all kinds of confidence and smarts compared with me at that age, they were maxing their TSP contributions, and discussing financial independence on the internal intranet!

I plan on leaving all my $$$ to my kids. I worked for my money, saved it for my use, and if there are left overs I hope it will give them and their offspring a life-boost. I feel fine about it and don't think it will turn them into weaklings. They studied hard in college, work FT at difficult jobs, are trying to get ahead, and are saving for their own retirement. I guess I might feel differently if they seem entitled and were lazy. They aren't any of that. They are great people and I like them a lot.

You would not believe how accomplished these young people are. They are WAY more motivated and industrious than I ever was in HS or college. When I hear older generations despair about today's youth, I wish they could see the hundreds of resumes and portfolios I see each year...Fear not! These kids will be just fine.

 

[Markola]

Live Free, I felt the same way about the young people I interviewed or supervised during my last 15 years of w*rk. Besides having all kinds of confidence and smarts compared with me at that age, they were maxing their TSP contributions, and discussing financial independence on the internal intranet!

100%. I hired lots of Millennials and was consistently impressed with their drive and smarts. Count me as a fan.

 

[Chuckanut]

Even the poor folk carried on the custom into the 1900's, but it came with the stipulation that the first born son took care of the aging parents. If the firstborn left for America, the 2nd oldest son got the property.

But don't forget the husband's family got a dowry for every daughter.

https://www.jstor.org/stable/3773353

2nd sons had issues in Olde England. The UK folks can correct me if I am wrong, but one of the reasons the English [-]conquered[/-] acquired foreign lands was to be able to provide 2nd and 3rd sons of nobility a chance to own some property and be a proper "His Lordship". Serve in the Army or Navy or perform some other public service and get a 1000 acres in Ireland. To heck with the natives. After all, they didn't have a flag.

 

[audreyh1]

2nd sons had issues in Olde England. The UK folks can correct me if I am wrong, but one of the reasons the English [-]conquered[/-] acquired foreign lands was to be able to provide 2nd and 3rd sons of nobility a chance to own some property and be a proper "His Lordship". Serve in the Army or Navy or perform some other public service and get a 1000 acres in Ireland. To heck with the natives. After all, they didn't have a flag.

Honestly, I think colonization was all about the extremely valuable trade and foreign markets for British goods. 2nd and 3rd sons could be sent to the military and church. Some colonies were for (punitive) transportation, and indentured servitude for poorer folks in the colonies was also practiced.

 

[RetiredAt55.5]

Shouldn't the OP's post title be "Are we creating weak men/women"?

No need to exclude half the population.

 

[Chuckanut]

Back on topic, I look at the young folks who work for companies like SpaceX, the medical tech outfits, and more, and I see a lot of great people. I don't worry about that at all.

The real issue, IMHO, is school system's outright War On Boys that takes place in the schools. As a former teacher I could tell you tales about double standards and other not-so-good things.

 

[ProspectiveBum]

I have 2 school age kids, and between them and their friends, I see the full spectrum of motivation, from “I only want to play video games” to “I plan to be a neurosurgeon”. There have been ants and grasshoppers since Aesop’s time. Same as it ever was.