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Message
The last check your parents write should bounce
Posted on 4/27/14 at 2:21 am
Posted on 4/27/14 at 2:21 am
I always tell my parents this and they are doing better with buying/doing things they want and not leaving it all in the bank.
20
Posted on 4/27/14 at 2:22 am to DoUrden
ok
Posted on 4/27/14 at 2:25 am to Caplewood
shite.... by the time we are that age though checks will be outdated forms of payment.
Lucky...
Lucky...
Posted on 4/27/14 at 2:30 am to DoUrden
I hope they're really good at predicting when they're going to die.
Posted on 4/27/14 at 2:39 am to DoUrden
That is one of the dumbest statements I've heard. I'm guessing your family is not into creating wealth that lasts generations?
Posted on 4/27/14 at 2:41 am to DoUrden
Posted on 4/27/14 at 2:45 am to Beerinthepocket
quote:
Beerinthepocket
That is one of the dumbest statements I've heard. I'm guessing your family is not into creating wealth that lasts generations
Stop relying on your family to set you up. My parents are successful but they raised their kids to do the same and we all have. I knew he silver spoon babies would come out with this post.
Posted on 4/27/14 at 2:55 am to DoUrden
Ya.......I can tell you with 100% certainty that my mother will NEVER write a check that bounces! 
Posted on 4/27/14 at 2:56 am to DoUrden
To each his own, but I don't understand why you are promoting squandering your own family's wealth creation. I've surpassed my parents in education and hopefully one day in earning power, but that does not mean they should spend every dime they have made just because their children are capable of doing well without their help.
Posted on 4/27/14 at 3:01 am to Beerinthepocket
quote:
To each his own, but I don't understand why you are promoting squandering your own family's wealth creation. I've surpassed my parents in education and hopefully one day in earning power, but that does not mean they should spend every dime they have made just because their children are capable of doing well without their help.
I earn more than my parents did, but being old school they saved and didn't enjoy. What do you have against you parent enjoying the twilight years? Make your own way.
Posted on 4/27/14 at 3:05 am to DoUrden
So they can't enjoy retirement without going broke? That may be true if your parents saved $200k.
Posted on 4/27/14 at 3:05 am to DoUrden
quote:
I earn more than my parents did, but being old school they saved and didn't enjoy. What do you have against you parent enjoying the twilight years? Make your own way.
My mother lives a better life than 99% of the people on this planet and never touches her principal but she had great parents and my father made sure she was set before he passed away. Trust me, she isn't missing out on ANYTHING!
ETA: My sister and I won't get a penny until she passes away, which is fine because I want her to be comfortable.
This post was edited on 4/27/14 at 3:07 am
Posted on 4/27/14 at 3:10 am to Beerinthepocket
quote:
So they can't enjoy retirement without going broke? That may be true if your parents saved $200k.
So you don't know my parents net wealth and how old they are, nice post.
Posted on 4/27/14 at 3:18 am to DoUrden
Although I understand the message of your post, to not selfishly encourage your parents to save. It seems as if your are trying to take what I'm saying as an insult, and you seem to think what you are saying applies to every financial situation.
If a retired couple has $200k saved then yes, maybe their last check should bounce if they want to enjoy retirement. The same shouldn't be said about a retired couple with $20M. If they did the same it would be a frivolous waste.
If I should have saved my reasonable conversation for the "money talk" board I apologize.
If a retired couple has $200k saved then yes, maybe their last check should bounce if they want to enjoy retirement. The same shouldn't be said about a retired couple with $20M. If they did the same it would be a frivolous waste.
If I should have saved my reasonable conversation for the "money talk" board I apologize.
This post was edited on 4/27/14 at 3:18 am
Posted on 4/27/14 at 3:23 am to Beerinthepocket
quote:
If a retired couple has $200k saved then yes,
House is worth more than that. I will be in Bora Bora later this year with my own earnings.
Wasting 20M is only a waste if someone deems it so. There is certain Wal-Mart daughter that paid people to get her a degree at Mizzou.
This post was edited on 4/27/14 at 3:31 am
Posted on 4/27/14 at 3:29 am to DoUrden
Great, I hope it's a wonderful trip. Although I'm not sure how that is relevant to the discussion of whether it is a sound decision for your parents to spend 100% of their lifetime earnings.
Posted on 4/27/14 at 3:35 am to Beerinthepocket
quote:
Although I'm not sure how that is relevant to the discussion of whether it is a sound decision for your parents to spend 100% of their lifetime earnings.
The post was about people enjoying their money and not skimping. Obviously if you have Vanderbilt money this does't apply to you.
Posted on 4/27/14 at 3:55 am to DoUrden
quote:
Stop relying on your family to set you up. My parents are successful but they raised their kids to do the same and we all have.
It's not about relying.
It's about being able to give the next generation the foundation they need to excel.
There is a big arse difference between just giving a child something and giving them the opportunities to be the best that they can be. And realistically, you CAN'T do that without compromising something unless you were given that yourself.
Even of the only thing that money bought was financial security and stability.
I didn't realize silver spoon babies extended even that far down the income chain.
This post was edited on 4/27/14 at 3:57 am
Posted on 4/27/14 at 4:07 am to lsu480
quote:
Ya.......I can tell you with 100% certainty that my mother will NEVER write a check that bounces!
exactly. my parents did not get to where they are today by stupid financial strategies like bouncing checks. my mother is a finance major and keeps a tight hold on their budget which allows them to buy everything they need and most everything they want. my family isn't rich by most standards, but they do very well because of solid money management.
Posted on 4/27/14 at 4:11 am to Volvagia
quote:
It's about being able to give the next generation the foundation they need to excel.
There is a big arse difference between just giving a child something and giving them the opportunities to be the best that they can be. And realistically, you CAN'T do that without compromising something unless you were given that yourself.
my parents have given me a lot in my life, but this is the underlying principle behind it all. as I've entered my adult life, they've never given me anything that they don't expect a return of off. they see what the give me as an investment in my future, not just a hand out. they will be there to help me, but more as a boot than a crutch if you know what I mean.
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