Quote:
Originally Posted by cam_calderon
Your altruism won't extend beyond your kids, though, and rightfully so. All wealth is familial wealth, typically, which only entrenches the divide between the haves and have-nots. Your kids are lucky. I'm lucky because I'm an only child and my parents are in a very comfortable financial position, but many people weren't born on third base.
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I realize that, but you'd be either selfish or a poor planner to not play the game you were born into, right? Like, I
could buy a 911 Targa (my dream car) if I wasn't worrying about how my children were going to afford a townhouse.
My altruism will also go beyond my kids since I'm already considering my grandkids who aren't even born, though. I'm very aware by the third generation the wealth is typically gone...just takes one fk up in the line to ruin it for everyone. Doesn't change how I should approach planning to optimize the chances for my kids/grandkids.
My wife and I delayed having kids by a few years for the sole reason of setting ourselves up a little better financially before we had them. I have a history of planning for people who aren't yet born, apparently.
I can't do a lot about the other people who weren't born fortunate, but I can definitely leverage what I have to help my kids versus blowing it on myself.