I just read this article, http://finance.yahoo.com/news/15-tycoons-who-won-t-leave-their-fortunes-to-their-kids-195610442.html?page=1, about millionaires and billionaires not leaving an inheritance, or leaving very little, to their kids.
I think if I were in their position I would donate quite a bit to charity, and a small amount to the kids right after my death. But I would also set up trusts or something for the kids that they will inherit when they turn 50. And I wouldn't tell them about the trusts. This way they would still have to learn the value of hard work and they would have to earn their own money. But still receive the inheritance as a sort of reward, so to speak, for all the hard work they had already done.
There could even be stipulations on the trusts like, if they are an addict they must be sober for at least 2 years, or they have to hold down a job for at least 3 years or more. I wouldn't put a stipulation on it that they have to be married by a certain age or that they have to have kids, that's just not logical.
One would hope that if you teach your kids about hard work and the value of money then they will be hard workers anyway and may not "need" the inheritance money. But I think it would also be nice to leave them a large amount for later in life.
What would you do if you had large sums of money to leave behind?
Wednesday, August 21, 2013
Saturday, August 10, 2013
Misunderstood?
I just read an article about the Swiss apologizing to Oprah Winfrey for a racist remark by an employee at a shop in Switzerland. Oprah was looking at purses in the shop and wanted to see a particular handbag, the cost was $38,000. The employee told her it was "too expensive," keep in mind the employee does not speak English natively.
Because the employee said this the world is now screaming RACIST!!! I say WTF? Seriously, this is what's wrong with the world today, someone says or does something and everyone automatically assumes it's racist or sexist, or whatever. Now there are the unfortunate occasions that this may be the case. However, from the article I read about this particular incident the racism is assumed. The article did not say the employee gave a dirty look when she said it. It did not say the employee acted disgusted or anything like that. No the employee simply said the bag cost too much.
It's possible the employee was stating the bag was outrageously priced, I would agree with that. A second article I read on the matter said the employee tried to show Oprah the same bag in other materials. I tend to agree with the shop owner, this was probably a breakdown in communication.
I just get so sick and tired of the world, especially the media, screaming racist at the slightest incident. In my opinion, these are the people that WANT it to be racism. Otherwise, it's not a news worthy story.
If you haven't already, you can read about the incident here, http://music.yahoo.com/news/swiss-luxury-shop-denies-racism-towards-oprah-141207771.html.
What do you think? Assume it's racism or give people the benefit of the doubt and assume it's a miscommunication?
Because the employee said this the world is now screaming RACIST!!! I say WTF? Seriously, this is what's wrong with the world today, someone says or does something and everyone automatically assumes it's racist or sexist, or whatever. Now there are the unfortunate occasions that this may be the case. However, from the article I read about this particular incident the racism is assumed. The article did not say the employee gave a dirty look when she said it. It did not say the employee acted disgusted or anything like that. No the employee simply said the bag cost too much.
It's possible the employee was stating the bag was outrageously priced, I would agree with that. A second article I read on the matter said the employee tried to show Oprah the same bag in other materials. I tend to agree with the shop owner, this was probably a breakdown in communication.
I just get so sick and tired of the world, especially the media, screaming racist at the slightest incident. In my opinion, these are the people that WANT it to be racism. Otherwise, it's not a news worthy story.
If you haven't already, you can read about the incident here, http://music.yahoo.com/news/swiss-luxury-shop-denies-racism-towards-oprah-141207771.html.
What do you think? Assume it's racism or give people the benefit of the doubt and assume it's a miscommunication?
Subscribe to:
Posts (Atom)