If every family did this with their children, everyones lives would be better

>teach them personal finance and responsibility while they're growing up
>at 21, give them ~$300,000 or whatever the equivalent is at the time
>they buy a $100,000-$150,000 house, some 3 year old Toyota Camry jap shitbox for the full depreciated value, and put the last $150,000 or so in the bank/wherever they think is the safest as an all-purpose emergency fund
>get whatever job they want, have full benefits, out of the rat-race at 21 being that they already own a house, car, and have money in the bank, totally free

If your parents did this with you, I guarantee you'd be a totally different person, and a much happier person. Not having to deal with this fucking rat race bullshit of working until you can afford a house or a nice apartment, a car, actually have money in your bank account... it's just such a waste of time. Imagine if your parents were just smart and taught you how to be responsible while you're young, and them just take you out of the whole rat race game at 21. You can spend your life doing what you want to do outside of work and never worry about bullshit like mortgages, loans, any of that fucking bullshit.

I'm 21 but I think I'm going to do this with my kids. I'd have a fucking heart attack out of happiness if my parents did this with me and I'd never let them live down how much I appreciated it, freeing me from this hell. I won't have a house or a car, or $150,000 in the bank until I'm like 30 fucking years old.

So it goes.

>(you)

>Everyone has 300k to spare
>Buying a shit used car that break every 10 miles

Millennial detected

Pathetic, desu

>If every family did this with their children
>>at 21, give them ~$300,000

if my parents worked for 21 years straight (since I was born), and they never spend a penny for 21 years, when I get to 21 they haven't made the 300k yet

If you don't have much more than $300,000 saved by the time you have 21 year old children, you fucked up. Being at millionaire at 40 is typical if you have basic knowledge of personal finance.

>This is what you get when everyone gets a trophy... muh gimmie dats

i never wanted anything from my parents, I'd feel like a pathetic piece of shit if my parents had buy my shit so I wouldn't have to work and "rat race". I hope I never have an entitled shithead child like OP

Oh fuck off asshole. As if you'd turn them down if they offered you this on the one catch that you have to do it for your own children and keep the cycle going. that's a fucking perfect idea.

nope, giving people shit never works out. You think Op would really appreciate the house if he worked his ass off to buy it or if mommy and daddy worked their asses off to buy it.

>If every family did this with their children, everyones lives would be better
sounds like this is headed nowhere but I'll give it a read

>teach them personal finance and responsibility while they're growing up
not doable, but a nice enough sentiment, knowledge is power

>at 21, give them ~$300,000
great I just wasted time reading the opening of some bait thread for (you)s

>at 21, give them ~$300,000 or whatever the equivalent is at the time
>If every family did this with their children...
...everybody would be rich.
We're just not living in such rich societies that could afford such things. Of course everybody would have an easier and maybe happier life if they were rich but this is just not possible in our current society.

If everybody would have so much money, inflation would go trough the roof and house prices would explode leading to these kinds "having to deal with this fucking rat race bullshit of working until you can afford a house or a nice apartment" all over again.

The reason why people can life a good life with 300k is because most normal people are never going to be able to save that much.

I'm not actually talking about everyone, just Veeky Forumsraelis.

How the hell do you teach a pre-21 year old financial wisdom? Even if you somehow keep the 300k silver spoon a secret, the fact that you can afford that kind of thing would imply a privileged upbringing.

You can't know money management until you've experienced a degree of poverty. A theoretical education with the safety net in plain sight is of little use.

>typical

Having a net worth of $1m would put you in the 90th percentile. It's hardly typical.

>Being at millionaire at 40 is typical if you have basic knowledge of personal finance.
Yes, seems pretty typical. Not sure why every family doesn't follow your advice.

>Being at millionaire at 40 is typical if you have basic knowledge of personal finance.

>if you have basic knowledge of personal finance.

about 10% of people do :3

>You can't know money management until you've experienced a degree of poverty
I suppose all those old money families don't exist in your world. People can learn things without experiencing them. You do know there's less gravity in space right? Ever been to space?

I have known some people at my university who got their personal finance handed like this.
Maybe it's good if they invest mostly on autopilot and everything is managed by professionals. If they have to do everything themselves it's probably not such a good idea to give them so much money.

>You can't know money management until you've experienced a degree of poverty. A theoretical education with the safety net in plain sight is of little use.
This 1000%.
Also like all of life’s rich emotional experiences, the full flavor of losing important money cannot be conveyed by literature. You cannot convey to an inexperienced girl what it is truly like to be a wife and mother. There are certain things that cannot be adequately explained to a virgin by words or pictures. So when they lose money with their investments for the first time it will not be few hundred or thousand bucks, since they started out with much more than that.

HAHAHAHAHAHA

OP KNOWS WHAT HE IS TALKING ABOUT

>I suppose all those old money families don't exist in your world. People can learn things without experiencing them.
They have family offices and Veeky Forumsraeli money managers that guide them every step of the way. The families themselves are mostly fucking lazy. Family office even has to buy birthday presents for their siblings or get them internships. Even I could fly a fucking jumbo yet without knowing anything if there are five pilots with me in cockpit telling me how to do it.

Still I would fuck up next time if they decide to leave.

your just basically describing what happens financially if you are born to rich parent.

even if you dont get the assets, you are still able to take risks and afford other luxuries like premium education, and legal representation for the petty crimes you commit

>if you have basic knowledge of personal finance
there was a qualifier asshat

>nobody would die if we just told people not to murder

My parents didn't and still don't know shit about money. Most people don't actually. You can't teach what you don't know. I would say I'll teach my kids how to manage money properly some day, but this world is going to shit. 30-40 years from now it'll be 130 degrees in the winter. The rich oil lizards will be wrapping up their globalist plan. just a mess

im going to just say this must be bait instead of retarded and not come back to regret it.

not sure if this is bait, but your kids will spend all the money on heroin and OD. you sound like a pussy. your parents wont give you free money at 21 because they want you to grow up. they have made the right decision.

can the government give me the $300,000 if my parents can't?
i have three siblings and i don't think my parents have an extra $1.2 million to give away.

I did get this sort of money and resources from my parents, after they died much too early. I can't say I'm a happier person for it. I would give every single penny back and return to my shitty crackshack apartment just to spend 10 minutes with them again.

The rat race ain't so bad, user. You'd be better off teaching your kids to appreciate family ties than giving them a hunk of free cash and a house. The money's nice, but the one real good thing I took from their deaths was how my relatives came together to help me though the loss, and showed me how much we really loved each other. We're closer than ever now.

Maybe I'm on the wrong board to give this sort of advice, but I feel it's true.

>$300,000
>Vancouver

Try $3,000,000

Money isn't everything user, it just makes some aspects of life a lot easier. I know that feel desu senpai. I'm doing my father proud by investing the money left for me instead of spending it like a starry eyed millennial.

Fuck off asshole. You have no idea what the rat race is like. Fuck you and fuck your parents for wasting their money on some ignorant faggot.

If there's any sort of afterlife, I'm sure he's happy with the person you've become user.

Can't say I'm surprised by this reaction. It's hard to communicate how it feels to lose the people you love so much. You'll find out one day.

Bro, my father just passed away on this passed Sunday. Lost my mom a few years ago.

I posted on r9k and adv about it

I'm completely devastated. My father was my best friend and business partner. We've worked together everyday for the past 15 years, when I started at 14.

He and my mom left me about 350k. Not super rich, but well of for my age.

I doubt I can even run the business without him and I have no other skills. He is sort of a legend in our city for his trade skills.

Life has zero meaning to me right now and I've had zero reason to get out of bed so far this week other than doing the funeral arrangements.

I tried to answer the work phone and broke down on every call before just putting it on silent.

I have no clue what I'm supposed to do now with work or life.

Life simply can't return to the baseline happiness I had one week ago.

Sorry for r9k rant, but I have no one other than Veeky Forums now that he's gone.

I know a better idea

If your parents gave you a $1million/yr allowance and then $100million dollars at 18 you'd be even better!

This debate will never be settled. You're right in that I wouldn't have had to give up my passion and dreams, but I would've missed out on a lot of character building experiences and lessons if I had that stuff handed to me. Doesn't guarantee happiness, but I'm not saying your idea is wrong.

I'm sorry brother.

>Stop refusing to be an entitled brat like me.
>REEEEEEEEEEEEEEEEEEEEEEEEEEEE

Family is literally the only thing that matters in this life and is the only true measure of success.

Losing him made me realize how meaningless life is without people that care about you.

I'm crying right now and haven't slept or eaten in 3 days

This.

If you didn't have the experiences you had you'd be a different person.

Most great people came from struggle. If you just had everything you've ever wanted you wouldn't know what hard work is.

Reminds me of a sales man's story I was listening to, he mentioned how when his peer got the door slammed in his face he just gave up because he had parents to fall back on. but the salesman didn't have a single person for support so he couldn't give up now because his single mom was poor and he was adopted

Sorry for your loss user. I can't tell you how to manage your business, but I can share my experiences.

I can't say the grief ever gets better. It hasn't for me. Its just gotten less worse. With age comes a loss of innocence, I guess. You'll remember them less and less, but everytime you do will still be painful.

Its a bad idea to be alone for too long so soon after you lose them. If you have no family or friends available, try reaching out to your fathers friends. Even they might want someone to grieve with. If all else fails, there are websites and phonelines that you can talk with someone. Just don't be alone for too long, otherwise all the dark thoughts seep in.

Just remember there's nothing you can do for them now but make them proud. I don't think your folks would want you to spend all day indoors and in the dark. They'd want you to live your life!

It sucks and it's gonna suck even more, but you can make it user.

If you think you'll be happy when this happens then you will not be.

I grew up with my parents having no money and if I don't get rich then my whole family is probably fucked.

Everyday I read books about financial instruments and it makes me work harder. When I have kids I will give them nothing but teach them everything

>~$300,000
Lol, I'd be happy if they gave me that much in local currency

Mental retardation is strong with this one.
>teach them personal finance and responsibility while they're growing up
sure why not, but its more important to expose the to the real world as a whole not just pushing numbers. If he knows how to pay rent, but has no social skills to get a job what good will it do?
>at 21, give them ~$300,000 or whatever the equivalent is at the time
Wat?
>they buy a $100,000-$150,000 house, some 3 year old Toyota Camry jap shitbox for the full depreciated value, and put the last $150,000 or so in the bank/wherever they think is the safest as an all-purpose emergency fund
Wat?
>get whatever job they want, have full benefits, out of the rat-race at 21 being that they already own a house, car, and have money in the bank, totally free
wat?
Last 3 points will make them NEETs because they will:
1. Not appreciate having the money
2. Will depend on this handout waste it away
3. Having 150k in the bank as an emergency back up will do nothing for them
4. Getting a "dream job" is the worst possible thing a person with no financial worries can do at a young age, because that will make him even more brain dead to reality.

Let me give you an example, (comment too long) my brother-in-law is the only other sibling my wife has, he is approaching 21 and he has been given pretty much everything you outlined. His sister (my wife) no longer lives in Japan, so the house is going to be his when the parents kick it, and he is already calling it HIS house to his parents.
His grandparents (owned a hospital) left him around 500k in USD when he turned 20. His father is a great businessman and taught finance great to both my wife and his son.
Now, according to you, he should be fucking happy about his life and he is, but he is a total fuck up. He is very stingy with money so he wont spend much, always asks me to pay for shit whenever i visit, has no social skills, has no idea what working is. When i talked to him about it he basically said he wants to be a high school teacher, because it is going to allow him to live off those 500k without having to work for more than half a week until he 40, then he thinks his parents will kick the bucket and leave all their money to him. (Not going to happen im already managing her dads savings and he only gets the house and what grandparents gave him). I once had to fucking tie his shoes for him. He is so dependent on this shit he feels entitled too that he puts 0 work into anything else. Hell he dropped out of a private boarding school cause there was nothing fun to do around after his dad paid of 100k for the first year. He quit university and never told anyone and pretended to go to uni for half a year. And im not even telling you the most retarded things he thinks, but its pretty close to your thinking OP.
So tell me OP do you really just want to enjoy your NEET bucks while you make "craft beer cap necklaces" and youre out of the "rat race" known as fucking life? I make upwards of 90k year at 23, but believe me doesnt get any easier on you.

user are you still here?
Shit like that happens... But break it down- Your father worked with you for 15 years? That means he respected the fuck out of you, and you should be proud. Secondly, he would want you to continue working hard, and doing whatever he would do in order to keep things afloat, not to say go overwork yourself however.

The pain you are experiencing is unimaginable to most until it happens, and I truly feel for you. But the best way to honour him is to continue his legacy, be the man you would want your son to be, and stand tall with your head high and shoulders back. Hop back on the pain train, and each day you will remark at your ability to overcome these shit situations that test human will all the way, day and night.

Go buy something you and your father shared, from a favourite place of his, wear some sunnies, cry, people will understand your pain. But think in honour of him, and be the fucking awesome person it sounds like you and him were. All the best, user.

Honour your father by taking the next step in manhood, bro: total independence and self-dependence. How would your father feel and what would he say if he saw you as you are right now?

Go on, bro - it might take a long while, but you must get there and make it out there on your own. Carry on your father's brilliance and legendary status - hell, become even bigger and more successful than he was.

Remember: you carry his name and his genes. Let it be your tribute to him; honour his life and name.

Not a bad idea, start with your own children. I would guess that the "teach them responsibility" part is actually harder than the "give them money" one though.

>I once had to fucking tie his shoes for him.
Story time pls

If I was the government... I would make a law where every child above the age of 5 needs to have at least an apartment to live in.
This will make them much less dependent of their parents.

> Rich uncle
> 20+ million in the bank
> Has two children
> Gave them everything
> He was Mr Olympia way back when so they even have god tier genetics
> They're a little older than me
> Been taught his miserly ways for years
> Each got 1.5 million, nice car of their choosing, and paid for college after highschool
> The girl has been in college 8 years trying and failing to get a BA in Japanese Culture or some shit. Bought an empty warehouse by campus and turned it into a bar - burned 800k
> Bar isn't successful because she's never there
> Son didn't go to college, did cocaine and raced sailboats
> Got aids 2 years ago at 24.

If you don't work for it then you'll never appreciate it, even if your parents try to instill it in you all your life. They don't know what it's like to go without so they can never fully grasp the consequences of their actions.

In case you doubt that he was a miser and tried to teach his kids the same just realize that for everyone's birthday he just sent them a card. Just an empty Happy Birthday card. Never let anyone under the age of 7 in his pool for fear of having to drain it if anyone shit in it. Would nonchalantly pat women's purses as they left to make sure no one stole booze

I'm 30. Folks fell for industrial aged workhard meme... bless them for trying tho. Grew up in a trailer park. Mom babysat so i had friends over almost daily. Dad drilled oil wells and i'd go with him a lot. A buddy/coworker of his had a dude my age for a lot of years. We always had a dune buggy or junk pickup or dirtbikes to tear ass on. I would have been pretty nice to get the name brand folders and shoes and starter jackets and shit, but i wouldnt trade my chikdhood for anything. After they split mom married a cop. Hes a good dude. Cheif now. And she been dispating like 15 years. Dad works for some oil barrens for the last 15 years mostly pumping wells he driled 3 decades ago and roustabouting. They treat him pretty well.

I suffered a work injury and cripled for life so ive descided to put my hard work ethic into personal finance and investing. Got a few houses and things are looking up. Itll be nice to afford to take care of them like they did me someday.

Your plan isnt a bad one op. I cant have kids and dont want any. Got a whole litter of neices and nephews i am going to try and help through school though.

I dont believe in college but it is a stepping stone for most. And the college experience is one i miss a lot.

Good luck either way man. If u have the willpower to hook your kids up and not raise entitled brats it sounds like you are doing gods work.

How the fuck is the average person going to have 300k to give their kid? Most people in America make 20k a year. And that's a rhetorical question I don't want to hear answers from rich fucks who don't understand the real world.

Rich out of touch dumbass detected. Listen, you know nothing about the real world. You clearly were born rich and probably live in a gated all white community.

Most Americans make 20k a year and there is no room for advancement.

Okay OP just confirmed he is Jewish.
Go home everybody. Remember that "The 1%" = 43% of the Jewish population.

Meaning there is a 43% chance OP was born rich, and a 100% chance he was born upper class.

I bet your parents are really proud of you.

First: shit man, im sorry.

Second: harden the fuck up. Neither of your parents would want to see you like this. This day was always going to come eventually and here it is: you're holding the baton now. Whether you believe in an afterlife or not, do your parents memories proud. Sounds like you're about to have to learn the same business lessons your old man did many years ago. Relish the opportunity and feel the synchronicity.

Ukfag detected

>was mr Olympia

What year?

This is just what rich parents do, barely anyone can really afford to do this.

>If all of us had rich parents our lives would be so much easier.

No shit?

What do you do for a living? You sound miserable.

Shit makes me so mad to hear this, I come from rather poor beginnings.

Sounds like a similar situation, although she was poor to begin with, my crazy Aunt on my mother's side got 90k + 25k from my grandparents properties after they passed away, me and my sister got nothing, even though it was in the will, she is mentally ill and spent all of that 115,000 USD on fucking drugs within a half a year of getting the money, she is now homeless "again" and crying to family members for "another $1000" from them each.

Shit, I could'a used that for college, or as an investment, same for my little sister.

Another story, great grandmother on father's side wanted to leave my sister and me 120k USD to split between the two of us and give us her house when she passed away in her will. She grew up during the Great Depression and saved like a hound and wanted me and my poor sis to have a good beginning starting off. My greedy Aunts, Uncles and Grandfather (not great Grandfather) got jealous after what they got, and they were already well established people with pensions and retirements, whom hated their Mother/Grand-Mother for some reason, forced her into a nursing home even though she didn't need one, and forced her to give up her power of attorney to my Grandfather where somehow the will had been changed, GF then proceeded to take all of it for himself and his recently married slut wife. My father told me and my sis this and how infuriated he was. My other Aunts and Uncles were either fuck ups, or unmarried with bucko-bucks already saved up in cushy well paying jobs. I remember when I saw my Great Grandmother in the nursing home after that she always looked like she wanted to cry everytime we saw her and she enjoyed our company a lot as kids, since me and my sis were really the only ones ever to visit her AT ALL, my Grandfather was a drunk who beat his kids and wife.

Sad how life takes opportunities away from you.

Your brother in law is a fucktard and just wasted it.

Whereas there are millions of people who could have used that money to quit and train themselves for a better job, or start their own thing, or even take a vacation. Or at other end of the spectrum take an easier chill job with less bullshit. That kind of money can do incredible things in a persons life.

Thats bullshit cherry picking, I can give you counter examples where starting 60k (not even millions) set a guy on the right path in life - managed to get him his own place, so he's not throwing money away renting. Whats up with you faggots and your sob stories about how start up money turns people into shit? Only if they were so to start with. Concerning the dude - he might have lived more in 3 years of racing sailboats and banging sluts than blue collars/cubicle slaves in 30 years.

OP, how old are you? 20?

Yeah there is maybe a million not millions amongst 7 billion. That's the issue. You think that because you're looking at it from a perspective. If you're in that situation you're going to fuck it up most likely. That's why there's only a small % of people who actually invest who consistently make profits.

90% of the people suck at personal finance

Over the course of the last year, I have worked a 26k job and managed to save up 8.5k. Simply by keeping this in an indexfund it should have compunded to 145k by the time I hit 54. Keep in mind, that is just one year of work. 300k is perfectly doable.

well its sorta like this
>me and my then gf (now wife) visit her parents in Japan for the first time
>her mom picks us up and drives to their place
>her mom is very nice and sweet, doesnt speak a word of engish but we hand talk she likes me
>gf always said her brother was socially retarded
>he comes in says "emmm mmmm herro" and basically leaves (keep in mind he hasnt seen his sister for 3 years)
>goes up the stars like a fucking animal making very loud noises with his feet
>my gf asks me too influence him a bit to become less beta
>well, ok, how hard can it be(little did i know)
>her dad comes (studied medicine in US while was younger so speaks decent english) we click he is cool AF drives a mercedes supercar
>we do the whole tourism program thing
>my gfs luggage is basically 50% clothing for her brother she bought because he refuses to buy/accept anything from his mom
>she asks me to encourage him to try it on
>so he puts on some new clothing and looks less retarded now (he still fucks it up by just tossing it on and looking like he drank with a bear for a week)
>gf thinks this is not enough of a make over, we go to Zara (im not wasting my money on this fucker by going to a decent store) to buy him more shit
>hilarity.jpg
>gf and i pick out shit and he just holds it looking uncomfortable
>we get him a suit some shirts, new shoes and sneakers etc
>we pick him out a pair of loafers
>he puts them on
>is the size okay user-kuno?
>eagerwave.gif
>we ask the employee to pack the shoes
>employee seems confused
>Sumimase gaijin-sama, the shoes are different sizes
>tard looks down
>i ask why he didnt say anything, his reply was "i thought its okay"
>one shoe 40 the other 43 (European measurements 7 and 10 in US)
>i try to contain my laughter along with employee
>we get him his shit
>i give thumbs up to the employee for playing it cool
part two coming soon

>new years party coming up we have 1 hour to get there and 40 mintues commute cause the place was crowded AF
>were taking my brother in law with us
>he just dumped all the shit we bought him in the closet
>gf takes out some shit that is not to messed up and new shoes
>the guys old shoes look like he is homeless cause he doesnt want to change them
>user-kun tries to put on new shoes (which are tied and he hasnt wore them before)
>cant just stomp his foot inside
>after saying "mmmmm" for 30 seconds (literally i heard him say "mmmm" and "emmm" more than anything else) he gives up and brings his old shoes
>gf says hell no
>he starts complaining
>5 min later i give up and and untie the new shoes
>put it on and tie the fucking shoes
>he said "oh wow these are so comfy now"
>we leave the house
>he takes out a plastic baggie (same as weed bags) where he has the keys to the house
>why you keep them in a baggie?
>so they dont stab me and i dont bleed out
>we laugh hard as fuck
>he says ok ill leave the baggie at home
>brings the keys out in fucking plastic wrap paper cause he is afraid to die from key stabbing
so this is why i had to tie his fucking shoes

Do you have more stories?

i do. pick what you want me to type out
>the school uniform
>the blog of hatred
>return of the NEET
>university massacre

>>university massacre

yes, now try that on my country with €500 a month for 12h a day work

>If your parents did this with you, I guarantee you'd be a totally different person, and a much happier person. Not having to deal with this fucking rat race bullshit of working until you can afford a house or a nice apartment, a car, actually have money in your bank account...

You're right, you'd be an insufferable douchebag.

lol
what is this "basic knowledge of personal finance" then if I might ask

I say every person, I don't care if you're the son of Bill Gates, should have worked a total shit job at least once in a lifetime. Go shelf stocking at walmart, or burger flipping at McDonalds. It builds character.

just in case he didnt kill anyone
>be dis guy
>do the return of the NEET
>gets into a shitty uni but quits after the first semester and doesnt tell anyone (pretends he is till going to uni)
>tells me in secret
>offer to get him into a euro uni
>his dad refuses to pay jap uni fees (round 50k or smth) but user-kun thinks thats just his dad bluffing
>he decides that the money he has access to at that point is going to be enough (exactly 50k)
>its not enough if you account for entering exam fees to actually get into a uni (you take like 5 diff exams and you have to pay around 2-5 k to keep 1 option open and the guy wants to take 5 exams)
>my gf tells him either work part time or come to study in europe where we live so we can take care of him
>he was too pussy to actually ask his dad for funding so my gf did
>dad is like nope.jpg
>user-kun executed panic and finally asks me to apply to the university near me
>fill out forms, pay the non-refundable fee, his IELTS exam fee, get him a recommendation letter from my CEO (i worked at a Swiss private bank then, moved to asset management company later), wrote the emails, talked over the phone on the interviews for him etc.
>nigga has to wait 1 month to get accepted
>user-kun tries to get accepted MARCH (japanese top 5 private unis or smth)
>calls me to say fuck your bs university (58th in the world )
>i dont cancel it just to see how its gonna go
>he takes the exams
>(but Huston has a problem)
>he got accepted to 0 unis
>his dad tells him he GTFO
>he is panicking and shit
>decides to study another year to get into uni
>tells me fuck off with your uni again im going to 1145th uni in the world instead of the 58th one for 100x the cost!
>well he is not getting in
>i get a letter that he is accepted
>i tell him well you got accepted on family chat
>parents go "congrats"
>i say user-kun rejected this offer so im going to cancel
>his dad messages me 2 month later" i am training to punch my son because of what he did"