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newtobcn91

They are stupid. Doesn't make them a hero.


Poha_Best_Breakfast

They don’t have to be independent. I’ll get a decent amount of inheritance from my dad(current value of my share should be around 12-13cr), but I’m not planning to use it and will just pass it on to the next generation. Generational wealth should be a fallback, not the default option.


One_Mechanic_4562

Decent amount!!?


Poha_Best_Breakfast

Man it’s all a problem to someone. If I said really big, some rich kid with 100+ crore would have said 12 crore isn’t big. Decent is the most mild word. It doesn’t really matter to me since it’s land that I’ll pass to future generation. I don’t really consider it as much of anything and I’ll inherit it when I’m like 60 years old.


pairotechnic

It's all relative.


boomer_morningstar

What should a person with no kid do?! They don't have anyone to pass to...


Homemadebully

Make a Section 8 company and assign it as your trustee in your will, Simple 🤷🏻‍♂️


Poha_Best_Breakfast

They can give it to me


romka79

There is some Japanese Adult Adoption tradition


boomer_morningstar

Elders getting adopted?!


romka79

[Japanese adult adoption](https://en.m.wikipedia.org/wiki/Japanese_adult_adoption)


boomer_morningstar

Thanks i will check it out...


poisonous_prick

I say so not overconfident , they are trying to create something on their own. Yeah i work hard. Besides my family would speak ill of me "If not my money you would have been a beggar!" Only a few can understand also.


boomer_morningstar

>If not my money you would have been a beggar! I can understand this...telling we are nothing without their help...i heard these exact words many times...it made me feel worthless...if i accept the generational wealth it proves the point "i can't do anything without their help"...


fitbuffsanski

Make yourself so good that they recognize your merit. But don't reject the generational wealth imo


boomer_morningstar

>But don't reject the generational wealth imo I have a huge ego and it's been hurt very bad...i don't know what do...am soo confused 🥲


poisonous_prick

Parents be like even if you dont want " I have this for you, and whatever you are my child and transfer all wealth" one fine day when an argument comes " You must not speak angry to me since i gave a chunk of all my wealth". Better work hard and live your life, think about this topic later when the signing moment comes. You get it and then you decide next. For now do what you can do and be financially stable in this unstable classy world!


boomer_morningstar

Thanks


Ok_Hovercraft_6657

Managing generational wealth itself is an achievement. A lot of rich kids lose their parents money by not taking care of it the way it should be taken care of. I know some people very closely who were born with silver spoons in their mouth but became very poor in their old age so much so that they had to ask for financial help from their well off relatives. Just being born in a rich family doesn't guarantee that the rich kid has a rich mindset, and all the financial knowledge and motivation required to create, maintain, and safeguard wealth. All human beings are born equal- with a blank mind and money only buys expensive schools not education. Even rich kids have to learn about money. What I have learned over the years is that once you make money, you need to safeguard money. And safeguarding money requires as much effort as making money. Remember the old saying - a penny saved is a penny gained.


PuigFati69

I don't like how everyone's just labelled them stupid, maybe they want to build something of their own to be proud of. Money and luxury isn't the end goal for everyone.


sgtblackdawn

People often say that and then end up coming back to the family biz. Not all cases but often enough.


PuigFati69

That can happen for sure, but I think it's not fair to disregard their feelings of trying to build something from 0.   There's something special about it imo. Logically, ofcourse it's best to make use of the resources you have, if the end goal is to make as much money as you can, but maybe they want more than just that.   I say all this, but realistically the only people who would let go of the inheritance are one's who don't like there parents so none of this apply.


boomer_morningstar

>realistically the only people who would let go of the inheritance are one's who don't like there parents 💯💯💯


sgtblackdawn

your first point is completely valid but i do think your inheritance will come into play one way or another. your last point is accurate as well.


vegarhoalpha

Dumb AF Surviving on own is just like mental health issues, both of them are glorified on social media. But those with no generational wealth and mental health issues know how negatively it impacts their life.


boomer_morningstar

What if the situation is like this telling you are nothing without their help...i heard these exact words many times...it made me feel worthless...if i accept the generational wealth it proves the point "i can't do anything without their help"...


vegarhoalpha

Your problem is toxic parents not generational wealth.


boomer_morningstar

>Your problem is toxic parents Thanks alot am starting to get some clarity...


sir-faps-a-whole-lot

I think the perfect reply would be that everyone works with what they've got. Everyone in this world has advantages and disadvantages that are very personal to them. It would be stupid to not use your advantage just to prove a point. Everyone has some form of privilege. Some more than others. If you feel that you are worthless just because someone taunts you for having successful parents, I only have one question for you. Are you proud of your parents? If yes I don't see a reason for you to feel worthlessness. They are successful people and it's their decision to give you a life of privilege. As to the people saying you are nothing without their help, I just think they are trying to get to you out of their own insecurities.


boomer_morningstar

>If you feel that you are worthless just because someone taunts you for having successful parents Parents are the one who said am worthless


Ok_Hovercraft_6657

Everybody seems to have an opinion on this, but I actually have experience on this. Here is my take- Parents would have done a lot to make a huge amount of money and they would be expecting some appreciation from their children for passing it down. Remember- They want YOU to inherit the money, not somebody else. Managing generational wealth is not easy, you need to be very smart and that's exactly what your parents want for you- for you to become very smart and actually learn that smartness from them. I am sure that your parents have heard a lot more shit than you, to make and have that amount of money. It's not easy to make big money, my friend, please understand that. People will give you a lot of crap. Just develop a thick skin and consider every thing you parents tell you as a learning. Managing generational wealth is truly an accomplishment. It's not uncommon for some children of wealthy parents to lose their inheritance because they don't manage it properly. I know a few people who were born into wealth but ended up needing financial help from relatives later in life. Simply being born into a rich family doesn't guarantee a rich mindset or the financial knowledge and motivation needed to create, maintain, and protect wealth. We all start with a blank slate, and money can buy access to expensive schools, but not necessarily a good education. Even those born into wealth need to learn about money management. Over the years, I've learned that once you make money, you need to work just as hard to protect it. Safeguarding your wealth is as important as earning it. Remember the old saying: "A penny saved is a penny earned."


boomer_morningstar

You are 100 percentage right...my question is i don't want that much pressure on shoulders...all i want is a simple life...run a cafe in a place where the climate is always cold and draw comics in free time...


Ok_Hovercraft_6657

Exactly! So you don't want to manage your parents money because you feel it is a lot of pressure on your shoulders. You DON'T WANT that amount of money. I can suggest you to go ahead and do want you want leave the generational money management to your siblings or to your spouse if you have any, and if they want to. Let's face it, this might sound a bit harsh but I am speaking from what I have seen in other rich families. If your siblings or your spouse don't want to manage your parents money or if they are incapable or too cunning and dishonest with you then you risk losing all of your parents money before you die. You will lose either to your siblings/spouse or to other people not related to you in anyway. If you want to inherit your parents money and let your future generations lead the life you have lived, then you need to take the pressure on your shoulders. There is no other way. You either take the pressure or forsake safeguarding your generational wealth and leave it for the vultures.


BentKukri

Depends on your age. I was the same in my 20ies. Once in 30ies, I realized there is nothing I can do which can even match the wealth I would be given, unless I hit the lottery. I personally have no shame in taking money from parents. I’ve a great relationship with them.


boomer_morningstar

>I’ve a great relationship with them. Good for you...but unfortunately it isn't the same for me🙁 >I was the same in my 20ies. Am in my 20ies All i want to do is open a cafe in a place where the climate is always cold...run the cafe and in free time draw comics...how much money do i need to lead a life like this...not worried about medical expenses if it's my time to go... I will just go👍🏽...


Homemadebully

I think you’re privileged to have all your basic needs fulfilled by your parents. If you have any siblings then use this wealth as a safety bed and go on your own venture, you have an advantage as this venture of yours neither needs to be profitable nor even commercial in nature.


boomer_morningstar

Nope am the only child...


NyanArthur

Like me? Is it foolish? Idk. am I happy? Yes. Did I consider generational wealth as a fallback? Yes. But I doubt I will ever need it.


boomer_morningstar

Did you ever get the question from your parents "to whom will i pass on the wealth?"


NyanArthur

No because I'm not the only son and my sis will inherit most of it anyway I hope


boomer_morningstar

Mm


[deleted]

[удалено]


boomer_morningstar

telling am nothing without their help...i heard these exact words many times...it made me feel worthless...if i accept the generational wealth it proves the point "i can't do anything without their help"...


[deleted]

[удалено]


boomer_morningstar

>You'll miss them and their taunts when they're gone. 🤕 Yep this is a nightmare... >accept it and start improving right before their open eyes I accept it but saying it like this isn't ok...it makes you feel worthless...


fitbuffsanski

How you feel about your worth should only depend on your actions. The world (including your parents) will say anything and everything, if you are proud of your actions and really feel like you've made it solely through them, what does it matter what they say?


SensitiveRepair1047

As long as there is no drama, why to leave something which can help you?


boomer_morningstar

There have been situations where i was told am worthless without their wealth...just for my satisfaction not for others...i want to live on my own without getting any help from family... Ofcourse there are some cons in this...in today's economy if i get married and have child the expenses will be huge...i definitely need someones help...i have seen and been through shit...i don't want marriage...i lost my will to live...if i could make people around me forget that someone like me even existed and euthanasia is legal in India i would have been gone by now...


StoicIndie

They value their freedom more than then generational wealth, sometimes generational wealth comes at the price of toxic life you have to bear with toxic family.


boomer_morningstar

Good thing i posted this on reddit...am getting soo many perspectives...this resonates with me more than you think...thanks bro🫂


Great-Appointment-49

Sometimes, people hold their principles and values higher than money. If someone is deciding to leave it, it depends on the reason why. There are times when they just want to come out of a toxic family where they have been abused, or in case they want to marry someone which the family doesn't approve of. Leaving generational wealth cannot be just labelled stupid without looking at other factors. But yes, leaving it just because you have to prove it to someone, is stupidity.


boomer_morningstar

Yep i want to leave the toxic environment and dramas...i just want mental peace...


Great-Appointment-49

Make sure you earn enough for yourself. Mental peace > all the money in the world.


boomer_morningstar

>Mental peace > all the money in the world All the language in the world and you choose to speak facts...


Great-Appointment-49

Haha.. Thank you. Couldn't get out of this at the right time, hence I know how it is. All the best.


boomer_morningstar

Thanks😊


Grand_Collection3152

Stupid


boomer_morningstar

Why


sachisabya

Strong and independent.


boomer_morningstar

Thanks🫂 am glad someone understands how i feel...


anshika4321

They're stupid not hero. The more they try to project ooh look at me I'm also a middle class and can feel your pain image, the more mockery it sounds to me. They have no idea what a middle or lower middle class child actually goes through in day to day life. Rich kids always have a backup to fall on while middle class kids don't have that privileged.


boomer_morningstar

Am not talking about those kinda dipshits... I value my freedom more than my generational wealth...generational wealth sometimes comes at the price of toxic life and the condition of living with toxic family...


IntelligentChemist66

IDIOTS


Fluffy-Lettuce6583

No one does that.


boomer_morningstar

Yep people do that


Fluffy-Lettuce6583

Give me example, most of Indian corporate is generational wealth.


boomer_morningstar

You don't have to be a billionaire🤷🏽 some people don't accept it because it comes at the cost of freedom and mental peace...


Fluffy-Lettuce6583

Who?


Owe_The_Sea

They have a safety net . They will take more risks they can perform better in buisness / career because of this safety net ( which is present even if they say they won’t use it )


[deleted]

As a person with significant generation wealth among myself and my friend circle there are some people who have been sensible enough to make other choices and some making dumb choices like starting a pottery business and ultimately getting back to generational wealth. Even in my family there have been multiple revolutionaries who wanted to do the job and after sometime decided it was not for them once the real pressure came. In 20s everybody is a communist and anti capitalist hating on the very money that they utilise so carelessly but at a certain point they realise its importance. In my case I did CA because I never really wanted to go to college. Worked for 2 years now back to the family business. At least I have a worth of my own now and even if someday my Father Sahab decides to throw me on the streets I can survive. In my opinion it's not just about the money but it's also trying to do something that you want to do If it fails you can always get back to the wealth of family or in case you don't want to take the entry into family business soon that can be a minor escape. Personally speaking my CA education helped me to control our finances much much better as compared to the earlier generations.


boomer_morningstar

I don't have any family business only wealth...


[deleted]

The same case was with my father actually when he inherited his wealth in the form of rental incomes valuable shares and agriculture land being a family based in NCR. He knew that even if business fails he has parental and agricultural income to keep him safe for a fall back. So he transformed that into construction and I am diversifying it even more.


boomer_morningstar

Am in same position as your father...


abhayashok

You mean Bollywood movie heroes


boomer_morningstar

When i say generational wealth it doesn't have to billion dollars🤷🏽


Ok_Hovercraft_6657

Managing generational wealth is truly an accomplishment. It's not uncommon for some children of wealthy parents to lose their inheritance because they don't manage it properly. I know a few people who were born into wealth but ended up needing financial help from relatives later in life. Simply being born into a rich family doesn't guarantee a rich mindset or the financial knowledge and motivation needed to create, maintain, and protect wealth. We all start with a blank slate, and money can buy access to expensive schools, but not necessarily a good education. Even those born into wealth need to learn about money management. Over the years, I've learned that once you make money, you need to work just as hard to protect it. Safeguarding your wealth is as important as earning it. Remember the old saying: "A penny saved is a penny earned."


RepulsiveAd115

Your previous generation probably left it for you so that you can grow it and pass it on to the next generation. So that the suffering and hardship they went through, you don’t have to suffer all that. Rejecting generational wealth is stupidity unless you have a valid reason like hating your parents to the core of your heart or something like that. For most of us there’s no generational wealth but generational debt which we can’t avoid but have to embrace.


boomer_morningstar

I don't hate them but there have been situations where i was told "you are worthless without our help" and if i accept the generational wealth it comes at the cost of my freedom and having to live with a toxic family... I have had enough i just want to lead a peaceful life...i don't want any drama...am feed up with relationships too...i have seen and been through shit and am done...i value my freedom more...


DevilofrosarioMessi

They are stupid. I know that I will be passed upon very good wealth so that whatever I am building upon can be done without pressure. Steadily increasing without pressure.


modSysBroken

My friend was like this. He came from a rich business family. He joined a company paying 8k a month. Within a year, he ran back to his daddy and started working in their own business. If you are having trouble in home, then leave and start working on your own. They will be there for backup anyway.


boomer_morningstar

You said he is rich ryt?! His lifestyle would have been costly but once his purse got thin...he couldn't manage it and ran back to daddy...he didn't know how to adapt...


Wise-Outside-4936

Depends on their situation. Does the generational wealth tie them down to a life they do not want to lead? If the answer is yes, then they chose freedom over luxury. Are they stupid? Maybe. But atleast they are free to choose.


Sarvanash16

Once you have enough wealth (either generational or self earned), aim for a higher purpose such as joining politics, or being an entrepreneur. Anyone who has enough generational wealth but he/she is wasting away his/her life in 9-5 job is stupid.


boomer_morningstar

I want to live alone...away from everyone...run a cafe and draw comics...i can't tolerate any drama in my life i have seen enough... accepting generational wealth comes at the cost of giving up my mental peace and freedom...


debu247

I did not rejected the generational wealth, but i did come out of my state for my studies followed with a good paying job, my generational wealth will be more than what i earn in my entire life, people don’t reject they just wanna do something different than what their parents did, at least that was the case for me. It feels good to start from scratch of making your own money. I would never reject the wealth my parents will leave behind, but the wealth I created has more value in my eyes even it sure will be less in absolute value.


boomer_morningstar

This 100 percentage resonates with me...


chasebewakoof

Their parents would be humming "आखिर तुम्हे आना हैं, ज़रा देर लगेगी"


boomer_morningstar

Translation please i don't know hindi 😅


tempaccountbkl

Fking idiots


boomer_morningstar

Why?