Should every generation have to "start over"?

[MadImmortalMan]

I keep a painting over my desk in my office ay home. It's an oil painting done in days of yore of a large brick house. The house in particular was built long ago in central Pennsylvania, near Altoona. It was built by my great*X (I'm not sure) grandfather and was in the family for several generations. It was kinda like our Walton's Mountain. This was before I was born. My grandfather was the last one I knew who ever lived there. Eventually, it came down through inheritance, blah blah etc. The last one who owned it rented it out to try and pay the taxes and the renters burned it down for insurance money. It's been gone for 20 years now. I think the last owner was one of my grandfather's older brothers.

Anyway, one of the main problems I have with my family in the modern era is that each generation has to basically start over from scratch. Or negative, in some cases. I keep the painting there so I can see it every day and motivate myself to leave the world with more than I started with. In my case, if I leave the next generation nothing and no debts I will technically succeed, but I'm hoping for something a little better than that.

My parents' generation (boomers) all are planning to go out broke. The popular thing with all their financial planning people seems to be to make sure you spend it all before you go.

Now, it's easy for me to say with moral conviction that that's evil, considering the hand I was dealt, even though I can understand why one would want to do it. Just as it's probably easy for somebody who got a nice inheritance from their parents to say it's better for everyone to start fresh each generation. They, after all, will never have to actually worry about it.

[Phillip V]

I vote yes, but only since you frame your story around material wealth.

Parents should work to leave wealth to their children in the form of love, education, character, extended family, good connections, safety, support, etc. Each generation can naturally grow money themselves from all those advantages.

[CountDeMoney]

Piss on young people.

[Ed Anger]

Piss on young people.

Especially 18-24 year olds.

[CountDeMoney]

Piss on young people.

Especially 18-24 year olds.

And if they take cash to keep their mouths shut about it.

[Jacob]

Voted no, though I don't think it's a responsibility really. Personally, I'd like to leave a patrimony for my kid(s).

[Eddie Teach]

Ideally not.

[Josephus]

Pretty limited voting options. Not even a jaron.

[garbon]

Voted no, though I don't think it's a responsibility really. Personally, I'd like to leave a patrimony for my kid(s).

Yeah I voted no even though I disagree with the rest of that option choice.

[MadImmortalMan]

Well, there's only two possible answers, so that's fair.

I guess the corollary question would be do you think children have a responsibility to take care of their parents once they can't work anymore. The one implies the other.

You guys know I support my mother in various ways, so my opinion is at least coherent and consistent.

[Ideologue]

My parents' generation (boomers) all are planning to go out broke. The popular thing with all their financial planning people seems to be to make sure you spend it all before you go.

I believe it.

My parents are pretty cool, I'll get some money when they pass.

[Razgovory]

Piss on young people.

Especially 18-24 year olds.

Wahoo!

[jimmy olsen]

The last one who owned it rented it out to try and pay the taxes and the renters burned it down for insurance money. It's been gone for 20 years now.

Wouldn't the insurance go to the owner?

[MadImmortalMan]

The last one who owned it rented it out to try and pay the taxes and the renters burned it down for insurance money. It's been gone for 20 years now.

Wouldn't the insurance go to the owner?

Renter's insurance. I doubt the owner had any tbh. I do know the renter went to jail for fraud over it though.

[Valmy]

Since we seem to be moving into an era where money if the main way to make money it would seem by doing so you would be damning your children to slave away in the lower classes.  I have definitely been thinking about this, if labor continues to be devalued and the gap between the rich and the poor continues to widen I sure as hell want to get my family on the winning side of that equation.  But hopefully by the time I die that problem will be licked.

I am not sure it is the parent's responsibility though.  Every parent leaves a rich legacy, it may not be a material one.  Hopefully it will be a positive one either way.