Reply #70: Our daughter already knows [View All]

that she will not be getting a windfall after we die.

We're doing a 'Warren Buffet' (though with .0000001% of his assets) and like him, don't believe in inherited wealth. We love her very much, but if she wants to be wealthy, she can work her ass off, like we did.

She's been working since high school, all the way through college and now, at 25 works at Genentec. She lives at our San Francisco home and pays rent and her own bills - ok, so we are putting the rent away for a downpayment when she decides to buy, but she doesn't know that.

She's already socking money away in a 401k for her retirement fund, knows how to live to a budget but still has a good time - we are proud of her for it.

I don't begrudge you yours though, spend it wisely but enjoy it.