No. of Recommendations: 5
Came across this piece and enjoyed it:
Inheritance and the Do Anything/Do Nothing Distinction
The Time Warren Buffett Fooled Himself
harveysawikin.substack.com - Inheritance and the do anythingdoI’m a fan of Warren Buffett’s sayings, often repeat them, indeed if it were up to me, they’d be collected in a little red book that investors were required to carry in the breast pocket of their work smocks. I came across one, however, that I will now critique, at the risk of being sent for reeducation somewhere in Omaha province.
Buffett famously said that in passing down wealth, parents should “leave children enough so they feel they can do anything, but not so much that they can do nothing.”If they have enough to do anything, they have enough to do nothing...though I expect Buffett was thinking along the lines of do nothing and live a playboy lifestyle.
We have pledged to pay for our kids' education - whatever they want - but beyond that we haven't thought much about it.
