Sunday, February 08, 2009

Inheritence

Just finished reading this piece in today's Op-Ed section of the NY Times. Beautifully written, these two paragraphs really sum up pretty nicely how I've felt about my modest upbringing and what I would want to pass along to my children, regardless of tax bracket I end up occupying:

I am not talking about trust-fund brats who get arrested for throwing hissy fits on Sunset Boulevard. I’m speaking of those perfectly well-mannered folks whose parents left them enough to ensure they never have to lie awake at night worrying about college tuition or second mortgages.

The young family who can afford the brownstone without ever enduring cramped life in an apartment, the couple who are able to jet away on holiday while the rest of us sit in traffic on the way to the local beach, the household whose teenage children are never asked to help out — there is something missing here, the sense of accomplishment derived from patient effort. It is hard not to think that their parents have done them as much harm as good by installing an express escalator on the uphill sections of their lives.

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2 Comments:

Blogger mcfly said...

As someone who was blessed to never worry about their college tuition, I have to disagree with this author. It is easy to be given a ride on an "express escalator" by your parents and squander the opportunity. Once the parental escalator stops, serious hard work and smart financial planning is needed to continue uphill. Or to maintain.

We all have trials in our lives - some people's trials include living in a cramped apartment, others live in a brownstone but may deal with emotional or physical trials that are much more difficult.

Money isn't everything. I'm not suggesting that children should be spoiled. But if I have the ability to take care of my children and give them the financial help they need to get up the initial section of the hill, I certainly will. Will they get a summer job? Yes. Will they have chores? Yes. But I think this author is too critical of parents that are simply giving their children financial opportunities to help them succeed.

I have spoken ;-) [i also presume we're not entirely in disagreement. i just think the author is too broad here.]

2:36 AM  
Blogger David said...

I'm of the opinion that everyone benefits from the experience of earning their own money at minimum wage. My impression is that this is declining in popularity among the well-off, to be replaced with unpaid internships and full-parental-college-scholarships. I don't think that's a change for the better.

10:20 PM  

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