After reading Entitlement by Robert Coles, the writer feels there is nothing wrong with spoiling your child a bit. He believes that his “children grow up taking a lot for granted” (Coles 51) but at the same time he does not want to give away all of his money. This does not mean that he will leave no inheritance for his children; it shows that he wants his children to be independent. He feels that children who come from wealthier families most likely get more of what they want. In reference to this story, Warren Buffett, currently the richest man in the world feels no need to leave an inheritance for his children. He believes that his children should make their own fortunes without his help.
How do you feel about this topic? Do you agree with the narrator of the story and feel that a parent should share his/her inheritance with the family? Or do you side more with Warren Buffett and feel that each individual should make his/her own fortune? Why do you feel this way? Explain.
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11 comments:
I would have to agree with Warren Buffet, even though if I was his son, I would not be happy. If everything is given to you without having to work hard for it, you will not have the same sense of appreciation for things, whether it's yours or someone elses. By doing this, they will have the opportunity to be something of themselves other than mooching off of their fathers funds. I believe that in order to make the most of your life, you must take control and be in charge of it, not living off of someone else.
I agree with the narrator of the story about giving some of the inheritance to your children. I think if you have the money, you should use it towards better educating your children and showing them the value of having more money. I think it is considered spoiling them when you give them everything they ask for. I also believe that by giving them the money at an older age, maybe when they are settled down with children, they won't necessarily use it to better their lives, but to better their children's lives.
I kind of sway both ways on this subject. I think if one has a lot of money then of course they should leave some money to their family members. I think that most people would not blow inheritance money but would most likely save it and use it towards something that is very important. I also agree with Buffet's view that his children should have to make their own wealth. Inheritances can be given to a person in many different ways. Giving money responsibly would be a good idea.
I feel that family should inheret weath from the family. But at the same time the child has to work for it. Children should not just around and expect to have things handed to them. They need to work for what they have. There needs to be some sort of middle ground in which the the child recieves some of the inhertance and also has to work and make his or her own fortune.
When i think about past memories there are quite a few that come to mind. And what do they all have in common? They are bad memories that have highly influenced the way i feel about the present and the future. The bad seem to overshadow the good. I think about how upset i was when my grandfather died. I remember the exact moment the phone rang to tell us, to the exact moment at the funeral when i started to cry. I think I hold onto the past horrifying moments because its the last memory i have of my grandfather and it was one of the hardest things i have ever had to go through.
I believe in passing on all kinds of things in terms of inheritance... but material things are only part of it...we pass on assumptions, biases, expectations etc.
The problem is when we use the American Dream (anyone can succeed if they work hard enough) to judge others and/or social programs...talking about it as if it's a level playing field...Some of us inherit values and expectations that make it easier to succeed in certain instances...in addition, we inherit identities (race, sex, class, religion) that affect our opportunities in other ways.
Is it possible for a woman to pursue a degree in and succeed at chemical engineering...Yes! But, does she have to work harder than men in her field? Probably...if in math and hard sciences women are still the minority.
I'm just saying that when we discuss inheritance, it's a complicated issue that relates to our agency in life...that doesn't mean we have to be ashamed if we have opportunities, it just means that we should be reflective on what such differences mean for others who go without.
I semi agree with it because i feel like kids should have to work hard for their money. It would be different if you had a job and played three sports and were given everything, but if you do nothing and expect everything from mommy and daddy then i dont feel like that is right. If your rich enough to pay for your kids education make them work for it. it will build better character. If your rich enough that you could give them millions, make them graduate college first, then give them their trust funds. Of course parents are going to spoil their kids if they are able to. All parents want a better life for their kids then they had. They should just make them earn it a little bit.
I agree with Buffet. People cant rely on family inheritance. They should be taught to work hard for them selves so that they can buy the things they want for them selves. I dont think fortune should be handed down. Its almost like your getting out of working. Although I dont disagree completly with the narrator. I think if the child is to inherate the money they have to show a good work ethic and show that they are responsible enough to handle somthing like getting inheritance from your family. I mean if I was offered money I wouldnt turn it down. I just believe you have to work for what you get.
I would have to disagree with Warren Buffet. A main objective of a father is to make sure he provides for his family, so if he has that much money why wouldn't you make a life a little more easy on your children. Although they probably wouldn't have to work ever if he did so, he could feel good about working hard to make sure his kids and family got everything they wanted.
I would have to disagree with Warren Buffet. A main objective of a father is to make sure he provides for his family, so if he has that much money why wouldn't you make a life a little more easy on your children. Although they probably wouldn't have to work ever if he did so, he could feel good about working hard to make sure his kids and family got everything they wanted.
I would agree and disagree with Warren Buffet over this topic. I agree that his children shouldnt have paradise given to them and they should have to work for their success, but no money? I feel like as a parent I would want to help my kids get their career off right and a little bit of money would certainly help. I definitely agree with the fact that he wants them to make their name for themselves. Every single person should have to work for their success, and i feel in the end if one achieves success on their own it feels that much greater.
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