RE: Torn Between Financial Teachings and Reality

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Torn Between Financial Teachings and Reality

in collections •  7 years ago 

Hi, great post! I've thought over the issue of inheritance as well. Financial goals, financial obstacles, and balancing health and wealth.

I truly believe wealth is health. You need money to stay healthy(depending on your environment). I know this because I embarked on a journey of physical soundness but was forced to stop because I literally could not afford to buy enough food! Hard times challenge your values, your beliefs, everything. You have to be practical. But there are pros and cons to any path taken. What makes sense is that you live according to what will give you less regrets. Whether you change your standard of living or your lifestyle has to align with what makes you happy.

Your legacy is what you want to be remembered for. Can your kids manage large estates and fortunes? Can they live with getting nothing at all? Can they handle lots of money? I'm sure you as I would raise our children with a head for intelligent use of money but what do they want? What are their values? Understanding this will help you accommodate them for when you gracefully transition life. I have no children myself. But it is something discussed with my S.O. I would want to leave them something useful that could reliably benefit their children along with their own legacy. A compunding inheritance if you will.

I would prefer to leave my child knowledge above all else and any wealthy but burdensome assets to be given to a friend who would know what to do with it or to benefit society. I believe less is more, is liberating. I personally seek to aquire assets and wealth to achieve specific goals not simply to have them. If relenquishing your possessions is in line with your desires over the long term, pursue it with tenacity. You at the very least won't regret it. I hope these thoughts are of aid in your journey friend!

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Great response! Health is wealth and wealth is health. A twofer! I am going to think and respond - it may be a bit. Thank you!

Happy to discuss finance and values of life anytime!