There's absolutely nothing wrong with inheriting money.

I can understand being a little jealous of someone who inherits a lot of it. I'd love to come into a windfall through whatever source.

Unless your newly rich buddy is being a dick about it, your other friends are wankers.

AURA Mayfair

I don't have any problem with someone inheriting a large sum from a rich relative as long as they do something honorable with it, suchas buying a 30 acre farm would be. I would do something very similar if the tables were turned.

I DO have a problem with undeserving lazy tools collecting government aid instead of searching for a job, or women having another baby to stay on welfare. I don't know any trust fund babies, but I can imagine they are the same scum.

I posted a thread on this, wish I hadn't. Last year I inherited $50K from an Uncle I barely knew. Never saw it coming. I used it to buy an income property (condo) in Oxnard, CA (posted a thread on that as well). Its turned out to be an OK investment, I bought for $215K on a short sale, and comparable condos in the complex are now listed for $269K to $299K.

I know 3 trust fund babies (now in their late 50's or early 60's) all three get some amount of funds (I think around January 1 of each year) to keep them comfy in SoCal (I'm guessing in the $250K range) each year. All three are drunks, lazy, do nothing, and all three are bagging groceries or some other menial task by September of each year.

$50,000 for one night of partying? Wow.

ew. Both are about as attractive as Phil Spector there...

Nothing wrong here! An inheritance from my great aunt purchased my 69T in 2001. I think I'm making great use of it.

+1

IMHO if your buddy isn't boasting, those are NOT good friends and it is time to find new ones. I would be happy for my friend and drop a few hints what nice parties we can throw now.

As others also mentioned, he did invest the money well, in a way where it can stay in the family. Inheritance is one person's blood sweat and tears being passed on to the next generations. What nicer thing can you leave for your family?

Of course, with money comes responsibility and being well off requires raising children with high expectations. Many wealthy families do this with good success - we only hear about the duds. I know several families with money and one of the tricks that seems to work very well is to go buy the offspring a company. Gets them something to care about and ideally make more money to pass along. Trust funds are a very bad idea IMHO.

G

It's the individual, not the money. My family started what was to become Fleet bank on the East coast, my great grandfather actually; who lived until I was in my 20's. The tradition in my family is you inherit the money and you work hard to insure the money is there for future generations.

I did not need to work a day past 25 if I chose not to honor my family tradition. However I normally put in a good 50 hour week. I hope my only son honors the tradition as well.

Back in the early '70's when Werner Erhard first started his EST seminars, I enrolled and then eventually was a volunteer (worked for EST) and then a member of the GSLP (Group Seminar Leaders Program). One of his policies was to not let anyone enroll in the main seminar nor any post-graduate seminars unless they paid for it with their own money ($700). He was firm on that...and he made it clear why. Not a few people turned away because of that policy.
.
BTW, just a little FYI; very common error in definition. Jealousy is between 3 entities and envy is between 2 entities. So one is not jealous of another person's money, but rather envious. :)

True.

But many individuals can become corrupted by the money. If you are well-off, one solution is to make your kids work for what they want.

Get new friends. Assuming your buddy hasn't suddenly become a pompous dick post-inheritance, the correct response is to be happy for your friend. Some of my friends have more than me, some less. I'm always happy to celebrate their successes, as well as help them out when needed.

Completely agree.

Money does not change people.

Its just a big magnifying glass showing their character. ......Or lack thereof.

I've never understood why people would envy and even hate someone who inherited money. Maybe it's because my parents never had money and envied & hated others who did, including relatives. I was always internally embarrassed about that from the time I was old enough to realize it as a kid. I agree, it is the person or persons. My HS girlfriend & her siblings are examples. The grandfather built up a huge fortune through hard work. Had friends that included Ford, Wrigley, & some others. His only son sort of kept it going. When he died, he passed on to his four kids. The oldest brother killed himself in a fast car he bought. My girlfriend got hung up on the eastern religious group. They conviced her to give most of her money to them & immediately kicked her out after she did. Another brother did speed & other drugs & ended up in prison. The only normal one of the bunch was the youngest daughter who leads a normal life - last time I heard. That's 3 out of 4.

You know what they say, wealth only lasts 3 generations...

Give them enough to do something, not so much that they do nothing.

Good one. Yours?
.
~~~~~~~~~~~
.
Prior to meeting my best friend, she inherited well over $1M in cash & roughly $800 in Chevron stock @ $37 (presently ~$115/share).
She would have to work the rest of her life if not for that inheritance. I could see how it had an effect on her - she loved to pay for breakfast for her son/granddaughter, would take out her friends for lunch frequently, etc. Took me out for our 1st lunch - tab was $81.
.
One day, she asked her granddaughter to find a way into a locked brief case from her days as an executive secretary. When opened, there was 4 $100 bills in the case - she gave one of them to her 12 yr. old granddaughter. I spoke to her about that with as much patience as I could muster.
She had been using her money to show off - she finally realized.
I suggested that the next time her son invited her out to breakfast that she say, "Sure, you buying?"
Haven't seen him around much lately...nor the now 14 yr. old granddaughter.

"So you think that money is the root of all evil?" said Francisco d'Aconia. "

Only the man who does not need it, is fit to inherit wealth – the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him. But you look on and you cry that money corrupted him. Did it? Or did he corrupt his money? Do not envy a worthless heir; his wealth is not yours and you would have done no better with it. Do not think that it should have been distributed among you; loading the world with fifty parasites instead of one would not bring back the dead virtue which was the fortune. Money is a living power that dies without its root. Money will not serve that mind that cannot match it. Is this the reason why you call it evil?

CUZ!!! How you doin' girl? :p

:eek: This I like.

But "The love of money is the root of all evil"