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Old 20-09-2011, 10:28 PM
lazyplane lazyplane is offline
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Quote:
Originally Posted by Unregistered View Post
Sadly, I am still partially supporting my children who are almost 30 yrs old even though I spent almost $1m on all their overseas education. Am setting up a trust fund to take care of them after I'm gone because they (especially one of them) are quite spendthrift and I'm afraid if they get all my money in a lump sum, they will squander it. When I think back, perhaps I should not have pampered them so much....

this is a true scenario for many singaporeans. being a parent myself,i am worried i may end up in a similiar situation. However, i was glad to hear a fellow more senior grandparent relate this insight to me that once u paid for their education, the rest is really up to them. as for the rest of your wealth, give to the next generation ie setup your trustfund to give to grandchildren instead. eg education cost of grandchildren.

also , if u have really alot do the warren buffet thing or the bill gates which to give their wealth to a cause. by doing so, u can still teach your children and your children childrens the values you hold dear.
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