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/biz/ - Business & Finance

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10195013 No.10195013 [Reply] [Original]

How to raise a child who won't squander your wealth ?

What are your /biz/ parenting strategies?

>> No.10195050

its no longer your wealth. it is his wealth as well. teach him to treat it with respect and maybe one day you will both have a beach house instead of a riding lawn mower, a pallet of monster in your garage and massive debt. it is up to you to squander your wealth. not your child.

>> No.10195242

>>10195050
Sage

>> No.10195437

>>10195013
God damn I love Camus

>> No.10195715
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10195715

>>10195013
https://www.youtube.com/user/ThuleanPerspective/search?query=children
all you need to know

>> No.10195741

>>10195013
>current year
>having children

Whew, lad...

>> No.10195781

It's so easy to squander money. Glad I learned that early with bitcoin. My inheritance should be a couple mil

>> No.10195830
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10195830

You have to teach them resourcefulness and challenge them. By definition, their life has to be at least a little tough.

So paying for their necessities, but making them do chores and earn money for fun or luxuries and encouraging resourcefulness and budgeting in the process. Letting them learn logical consequences rather than shielding them from them.

They may resent you at times as a child but will respect you much more when they get older.

My parents went a little overboard with this strategy, then again they were fairly poor anyway so I was left to my own devices. But I have friends with wealthier parents who adopted this approach and they turned out well, while those who were given anything they wanted have become mostly useless. You aren't going to learn anything unless you need to.

>> No.10195839

>>10195741
i know right. but dont worry. my boomer dad is about to buy a hot tub so that i can soak my aching joints from wage slavery that he cant understand because he was around when they invented the internet instead of being around when they ruined the internet

>> No.10195868

>>10195830
this is good advice no matter what the world looks like. but dont expect things to work out. plan for their retirement. you have a responsibility now

>> No.10195873
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10195873

>>10195437
Grog make grug roll rock to top of mountain, stone fall back of its own weight. Grog think no worse punishment than futile and hopeless labor.

>> No.10195911

>>10195013
You need to make them value their own wealth. My wife's son came to my house extremely spoiled. It took me a few months to fix him. You can do it with enough discipline.

>> No.10195940

>>10195868

Of course you provide for them and their future behind the scenes. But they can't know about it or think they can fall back on it, trust fund babies are the worst. Your wealth will be squandered in a generation and they won't learn any skills to pass on to their kids.

>> No.10196002

>>10195013
Teach them to earn THEIR WEALTH instead of wasting yours.
I am from Mexico, and ever since i was like 3 years old all the money i ever got was from doing house-chores, and small 'jobs', this lead me to being responsible with money.

>> No.10197123

>>10195013
The most successful kid or kids gets 80% so they can grow even more.
Stupid ones gets only a little, or just property so they can't fuck up.

>> No.10197243

>>10195050
Reddit is in full force today. Go back fag !
>>10195013
Don't make kids. Kids are for poor people.

>> No.10197302

I grew up poor.
Worked my ass of to become a
Millionaire before 21yrs old
Had a family by 24yrs old

My sons are 19 and 21
Raised spoiled to the bone because i didnt have shit as kid and wanted to be that dad.

I highly regret that decision.
Both have zero respect for $
Ive tightened my stance but the wife still gives them anything they want.

>> No.10197342

>>10197302
I didn't have respect for money when I was younger it changed when I started approaching my thirties.

>> No.10197364

>>10197302
How'd you become a millionaire anon?

>> No.10197385

>>10197243

Kids are your genetic legacy dumbfuck