capitalhockey
Recycles dryer sheets
- Joined
- Jan 21, 2020
- Messages
- 56
We have hit lean FIRE target thanks to good salaries and living below our means over the last 20 years. So we are technically FI but will work another 10 years for RE (also hit fat FIRE target). We are financially comfortable but chose to live in a modest house and drive old reliable cars....nothing flashy compared to what we could afford. From the outside, we live more like a blue collar family than a white collar family.
Our kids are under 5 years old now but my wife and I have talked about how we want to raise our kids. Both of us did not come from much but worked very hard to become professionals in our fields. Our parents did not give us any financial support because they could barely put food on the table. That gave us a hunger to study hard in school and succeed professionally. We want our kids to have the same motivation in life. We could obviously provide much more to them than what we have growing up but don't want to spoil them.
1) Will living in big house and having nice cars dilute their motivations in life? We are hesitant to live in high end neighborhoods since they will be surrounded by families/kids with high mean lifestyles.
2) Do we continue to fringe blue collar living conditions (basic needs are met with occasional nice things) to create environment why they are hungry to excel?
Looking to hear from folks who are in the same situation and how they raised their kids. We are a first generation of wealth and don't know how to use our financial means the right way without harming our kids.
Our kids are under 5 years old now but my wife and I have talked about how we want to raise our kids. Both of us did not come from much but worked very hard to become professionals in our fields. Our parents did not give us any financial support because they could barely put food on the table. That gave us a hunger to study hard in school and succeed professionally. We want our kids to have the same motivation in life. We could obviously provide much more to them than what we have growing up but don't want to spoil them.
1) Will living in big house and having nice cars dilute their motivations in life? We are hesitant to live in high end neighborhoods since they will be surrounded by families/kids with high mean lifestyles.
2) Do we continue to fringe blue collar living conditions (basic needs are met with occasional nice things) to create environment why they are hungry to excel?
Looking to hear from folks who are in the same situation and how they raised their kids. We are a first generation of wealth and don't know how to use our financial means the right way without harming our kids.