How much inheritance is enough
Give What Matters Most “You give your children enough money to do something but not enough to do nothing.” A famous line from Oscar winner 2011 Hollywood flick, "The Descendants". Based on a well-known quote from billionaire investor Warren Buffett in a 1986 Fortune magazine interview that 99% of his wealth will be donated to charity either within his life or by his death. I don’t want them to grow up spoiled. I’m not rich enough for my children to afford services for the super-rich or swanky lifestyles in Meadow Lane, the so-called “Billionaires Lane” in the Hamptons. But I also know that if I left them my fortune, they would not appreciate the value of money. The most important legacy that we can ultimately leave them is not money but the life lessons that we have imparted to them that will enable them to live their lives well. In other words as the local idiom goes, a capable heir could earn everything on his own and an incompetent spoiled one looses ...