People without money always suggest that they would do something like this. No one with money actually does. I’m not saying Oh Lord Give Me The Strength To Walk Away From Stupid People Without Slapping Them Shirt. It sounds like the family we’re talking about here did exactly this. They understand compounding interest can keep up with exponential growth of the family plus inflation if you get each member down. The line to keep adding to it by not raising them as spoiled brats. The math checks out, it seems possible, so this may be the rare counterexample. My parents have very ordinary jobs with ordinary, middle class incomes. Grandparents, too. My grandparents had over half a million when they died. My parents will have two. We are hoping for five. So good. So happy. Thank you so much.
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I invested my inheritance and work in a factory. I have roughly $300k (counting assets) Oh Lord Give Me The Strength To Walk Away From Stupid People Without Slapping Them Shirts. It drive a 97 gmc truck. So there are some people who do indeed invest like this. $100k of that is in a house, but I consider that an investment especially since we renovated a crappy house ourselves (me and wife). I did blow through some money at first. But realized I would waste a huge opportunity and that I’m an “all or none” type of person. So I opted for not touching it at all anymore. People without money always suggest this. this is why after a couple of generations they have none. So good. So happy. Thank you so much.
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