[QUOTE=GregWeld;385154both thought that their inheritance should be in trusts and managed professionally... to protect them from themselves. Mom and I thought that was pretty impressive as they both admit that they most likely are not equipped to be very good money managers. Fair enough!
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There is a good measurement of success as a parent. Congratulations.
My best friend died at 54 in 1995, his son would never take his advice, I guess in an attempt to prove himself, his inheritance was placed in a trust that he couldn't access for 3+ years until he was 28. Three of us tried multiple times to sit him down and give him investment and planning guidance to no avail. It took him and his wife 2.5 years to blow 6+ million dollars and have no assets. He's now divorced and living in a rental. Sad story to witness.
Money is only part of the equation.
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