Debate Inherited Wealth

[Jayson]

News - Prince William

Prince William has just resumed his normal duties after Kate announced having cancer.

discussionhub.net

In the UK, this is another part of royal culture, in a sense. It's the whole idea that wealth is held on to by families. Do you feel it is wrong?

 

[Teegold]

News - Prince William

Prince William has just resumed his normal duties after Kate announced having cancer.

discussionhub.net

In the UK, this is another part of royal culture, in a sense. It's the whole idea that wealth is held on to by families. Do you feel it is wrong?

Can it be considered wrong? It is not their fault that they were born into a wealthy home though. And no rich person would want to part with their wealth, wether inherited or not.

 

[eLdavis]

I do not see anything wrong with this. It's like me working hard right now to acquire wealth, then after growing old I decided to pass it on to my children, someone comes and says no I should pass it on to some random dude I don't even know.

 

[Jayson]

I do not see anything wrong with this. It's like me working hard right now to acquire wealth, then after growing old I decided to pass it on to my children, someone comes and says no I should pass it on to some random dude I don't even know.

Some people claim it spoils kids. For instance, some wealthy people like Sting and Elton John won't give their kids an inheritance.

 

[eLdavis]

Some people claim it spoils kids. For instance, some wealthy people like Sting and Elton John won't give their kids an inheritance.

They are actually right though, I have seen cases where most kids refuse to work or save simply because they have access to their parent's funds. I think the best thing to do would be to limit their access to these funds until they grow to a certain level before giving it to them instead of cutting them off completely. I have also seen cases were the kids do not have access to their inheritance until maybe when they have finished school gained a job legitimately and have been working for years.

 

[Teegold]

Some people claim it spoils kids. For instance, some wealthy people like Sting and Elton John won't give their kids an inheritance.

They probably do that because they noticed their kids are not responsible enough to make the best use of the inheritance.

 

[Jayson]

They probably do that because they noticed their kids are not responsible enough to make the best use of the inheritance.

That could be the case, but I get the impression from the article I read, that wasn't the case.

 

[MamaFrankie]

Wealth should be earned. I am far from wealthy and have no children but were I in such a position, I would tell them that they would have to go out and earn it as I did. This would make them more aware of the value of work and money. Respect to Sting and Elton for their stance on this.

 

[King Belieal]

I believe that if I ever get to inherit wealth, I would make sure that I multiply it and it becomes 10 times bigger than I inherited it. When you inherit wealth, you tend to have a foundation to build your life on if you are sensible.

 

[Sara]

Be it a rich man or a poor man have something they are keeping for their offsprings. It might not be enough but it's left for the offsprings to double up the inherited wealth or they squander all that's left for them.

 

[Nomad]

If you are sitting in a royal position and if you are receiving allowances form the state, how can you possess wealth that you built by looting people, from your own countries or in other countries. Look at the British monarchs, they are sitting on the wealth looted form Asia and Africa.

 

[Sara]

If you are sitting in a royal position and if you are receiving allowances form the state, how can you possess wealth that you built by looting people, from your own countries or in other countries. Look at the British monarchs, they are sitting on the wealth looted form Asia and Africa.

Well, it's left for them to make out a reasonable finance for themselves with those wealth they possessed from looting people. But out of greediness, they will just squander everything and in even become useless at last.

 

[MamaFrankie]

Bloody well said, Nomad!