Quote from: JayJuanGee on December 27, 2024, 04:13:54 PM

I have some difficulties conceiving saving large amounts of value (whether bitcoin or otherwise) for kids who may or may not deserve some kind of a windfall at the age of 18.., especially if parents have a lot of difficulties getting to a status of abundance, self-sufficiency and/or fuck you status for themselves, so why should they be spoiling their kid in such a large way that the kid does not have to build some kind of earning skills for themselves, but sure parents can do what they like in terms of whether the money would have any strings attached or maybe such saved money would be dedicated for a college fund or some other kinds of specific learning and/or skill building designations, which makes more sense, since it is a way for the kid to be able to build for themselves, such as going to college.

I share your sentiment here. Have three of my own, dropped into my lap when they were preteends so I had to really ask myself just how much I wanted to make life easy for them, while straddling that fine balance of not spoiling them.

So they have some Bitcoin set aside. Nothing big, just to show them how to do it. The eldest now DCAs every month from his salary. Teach a man to fish, I fully agree.

Quote from: fullhdpixel on Today at 03:45:33 PM

My father never really saved for himself, and I saw what that could mean, they did give me a good life, didn't really "save" money but they spent their money on a great education for me, which was of course nice and allowed me to earn a decent amount, not so much nowadays but usually I did earn more than most of my friends except this year, which I can thank my education for it.

However, I believe that we are not looking at something that would be a lot better and a lot longer on this term, I can't really consider this to be changing because when I saw my parents not saving for themselves and having a difficult life, that did leave a bad mark on my psyche that I should be careful and life could be bad any moment. I always have anxiety over my finances because ı kept seeing them have that. So, it is better to save for your kid of course, but maybe saving a bit for yourself and having a decent life so they can see you are doing fine is important as well.

I might echo this feeling too. My parents didn't have much savings but not because they were spending it needlessly. They made our life as good as possible. My friends had toys, video games, shoes. My parents never let me have those, but they NEVER said no to books. So I had huge libraries at home and only later realised how expensive some were when older and more mature.

I've more or less tried to do what my parents did with my children. I feel, looking at some peers, how financially irresponsible mos of them were later on.