I would disagree. If you think only about yourself - yes, it's not about the money. But if you want make life of your children, grandchildren, etc better, the only answer is money, building generational wealth.
You can work a whole life for generation wealth only to have your kid spend it all in one month as soon as you die. Or to waste away not doing anything while receiving monthly from a trust fund.
Everyone decides what their life to be about, but I'd reflect on leaving too much of your life's meaning to "kick in" only when you're dead. If your whole purpose is to "set your family up forever", a lot of that is out of your control. Whereas if your purpose is to hang out have fun and support each other's goals, usually you can do that right away
Absolutely not. Children and grandchildren are their own persons. The world is full of people who got rich through heritage and who live miserable lives - even when being materially fulfilled.
I would add that this state of mind denotes a characteristic control anguish.
When you're dead, you're dead. You need to let go.
Depends on the definition of “success”. If it’s about raising good people, with decent values and a drive to make the world better, a fat inheritance is probably not a good predictor.
The single most impactful thing for making your children's life better is being a present parent. Be part of their life, be there when they have fun and when they have worries. Listen to them, help them navigate life. I've seen many parents chasing wealth, leaving their kids lonely and psychologically marked.
The obituary does not show Ray had any modern obsession with money - the article does allude to a couple of Ray's jobs.
“We’ve had a good life,” he said to me nearly every time I visited in his final year, and I knew it to be true even if it might have seemed odd from a distance. On paper, this small life above Clear Creek should have left a long list of regrets, of what ifs. But this life was the life, the very thing he and my grandmother Grace set out to make when they married in the little church up the road in 1954.
The best time of his life was when his girls were little, Ray said as he neared the end. He and Grace raised two daughters: Joy (pictured left) and Debbie.
The modern disease of setting money as a primary goal is missing the point of life. We use money for the things we want. Concentrate on the wants and consider why you want those things. Keep your eye on the ball.
> generational wealth.
What do your kids want that means they need your money? To go to university and join the same treadmill as you? Personally I wanted to earn my own way in life - I didn't want to live off my parents (although I probably could have). Independence is another modern goal. I have retired early, but money in itself brings many many unobvious problems. It doesn't magically give me an obviously better life than my friends (who are on a very wide range of incomes).
We are all given approximately 70 years - be very very careful how you spend yours. Perhaps listen to a few good people that have spent more of their 70 years than you have, and learn what they have learned over time.
