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re: OT Ballers, what are you doing to ensure that your kids attain baller status too?
Posted on 5/19/19 at 1:02 pm to Kujo
Posted on 5/19/19 at 1:02 pm to Kujo
I frame the conversation differently than 'being wealthy'. I talk to them about how to create wealth slowly over time with the purpose of having enough money where it does the work for you. In other words, living off of the interest without loss of principal (and hopefully with enough to hedge inflation). You don't buy expensive cars or second houses (not routinely, anyway). You live within a budget, but don't have to work.
I've discussed with my older son, but not yet with my younger daughter. I plan on writing down how I accumulated my wealth and how I transition to living off of the wealth. They can use this 'guide' and/or pass it on to their kids, etc. I hope what I've done (with the promise of passing it on to them) gives them the ability to take a lot of entrepreneurial risk (if they're so inclined).
I've discussed with my older son, but not yet with my younger daughter. I plan on writing down how I accumulated my wealth and how I transition to living off of the wealth. They can use this 'guide' and/or pass it on to their kids, etc. I hope what I've done (with the promise of passing it on to them) gives them the ability to take a lot of entrepreneurial risk (if they're so inclined).
Posted on 5/19/19 at 1:06 pm to RoyalWe
They probably(maybe) speak using a lot of 'air paranthesis'(more than likely).
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