"Ignoramus12759" wrote in message
...
On 2010-12-19, Steve B wrote:

One of my ex-wives was a paralegal in Louisiana who worked for an
attorney
specializing in family law. Wills, trusts, estates, things like that.

Case after case went something like this. Old Mom and Pop sacrificed
everything, lived like paupers, came to own some land, and worked 24/7.
Over the years, they started making some money, and paid off the land.
Then
they started making good money growing rice or soybeans, or hitting oil.

Mom and Pop died, and now the kids and relatives are all squabbling over
the
money. All the spoiled kids don't want to get dirt under their
fingernails,
so sell off the estate. Within five years, most are broke, driving a
dented
dirty piece of **** five year old car that they spent too much money for,
and have gone through all the money. Not all of them, but a lot.

Steve, I wonder if you have seen families, sort of like that, but
where the kids were not spoiled? Maybe they do not want to grow rice,
but instead do something else, but are basically thrifty and good with
money? If you have, what did the parents do to bring them up to be
responsible people? I have my own kids growing, and I want them to be
of the better sort when they grow up.

As for lottery winners, I am fond of saying, anyone dumb enough to
play lottery is not ready to handle the prize.


i

Reread my last line. Some of them did very well either investing and living
off the income, or transferring the farm money into some modern venture.
Some of the heirs were raised very well by their parents. If I got an
inheritance like that, I would not like farming, and I could not physically
do it. But I would not squander the money, either. And I play the lottery,
and I think I could handle the prize very well. I'd put it all in a room
and just jump around in it for a couple of days. I'd take $250,000 for "fun
money", using that to buy some treats, and using a lot of it to be pocket
cash to buy storage deals, and ebayable merchandise, just horsetrading
money. Then I'd call my CFP and let him take care of the rest.

Steve