How much money would you leave to your children?

[Salary.sg]

If you have $1m when you retire, how much do you plan to leave to your children?

What if you have $5m? Or $10m?

Originally Posted by Salary.sg

If you have $1m when you retire, how much do you plan to leave to your children?

What if you have $5m? Or $10m?

if i had 1 Mil, I would leave 50k to my kid(s) . Thats for future use. I will pay for their needs till they are ready for work. Nowadays, many kids buy more stupid stuff as compared to the older gens. I rather donate to charity than let them waste money buy useless stuffs. Well, that's my plan. Others may be different.

Huh? Don’t give to children then give to who?

[stanley81ng]

my boy is 7 years old. he ask me i should be rich as i am working almost everyday. i just told him my money is my money and i will donate the money to charity when i die.

i mean at the end of the day, if really depend on what kind of person is your kid, if he is the hardworking type...of course you can leave money to him...but if he is those kind that wait for money to drop from the sky...giving him money will make him a bigger loser and throw what you have save up in a lifetime down the drain....

so the short answer is ... it really depends...

Originally Posted by Unregistered

Huh? Don’t give to children then give to who?

Donation lo

Those want to donate, donate to me pls, don’t just said said, haha

Originally Posted by Salary.sg

If you have $1m when you retire, how much do you plan to leave to your children?

What if you have $5m? Or $10m?

$1m to retire is not really a lot actually. may not even have leftover to leave to children.

for me & wife, we are targeting to build up to $10m net worth by retirement, hopefully before 55.

Originally Posted by Unregistered

Huh? Don’t give to children then give to who?

give sufficient for education.

when u over give, you are de-risking your children and it becomes more harm then good

I will set up a trust fund (you only need $1 million to do that) and give instructions to invest using a robo-advisor or S & P 500. The average returns will more than cover the fees for the trust fund and allow the fund to grow. Then the trust fund will help to fund my descendant's education and help them when a recession occurs or pay deposit for a modest home.
If I leave everything to my children and descendants and they marry and get divorced, the assets will be split due to Women's Charter. Or they may 败家 and squander all of it away, which is what happened with the Vanderbilts in USA.