Quote:
Originally Posted by Unregistered
Yes, retire by 55 if you can. Life is not all about making money. There is more to life than that. What is the point of leaving so much wealth when you die? Your children and relatives will be fighting to grab your wealth. So many cases in the news.
There are people who already have $5m when they are in their 50s but cannot let go. They want to work until they reach 65 and only to die at 70. Their $20m wealth will be fought over by their children and they will sue each other in court and appear in the news. Bring shame to the family.
Best is to give your children a good education and tell them you are not leaving them any fortune when you die. This will make them work harder to prepare for their own future and retirement.
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I totally agree with you. We taught our children to be independent and self sufficient. As we live simply, they are not aware of our finances. Both of us agree that we will support them to a tietiary education and they should then achieve their own financial independence. We will not indulge them in excesses and they must learn to work hard for what they want.