The real challenge will be that my grandchildren will get the same message...
Are we witnessing a pivotal shift here that will finally spin the world in a new, clean direction? Thoughts?
Meh. Name one industry that divestment killed.
Quote from: zz_marcello on March 24, 2016, 11:18:13 AMThe real challenge will be that my grandchildren will get the same message...If you are passing on your wealth can you do it in a way that they don't have a choice or that at least a portion of the wealth is managed in a way that they can't mess with it.
Meh. Name one industry that divestment killed. The demand for the product is still there - it just lets other people reap the rewards at a lower cost. The only way you're going to starve oil and gas of capital is when they've been passed by other technologies and they aren't making money any more. That day will come. I personally would be very careful with your time horizons when invested in fossil fuel companies. Look at Peabody Energy (BTU). No one needed to divest from coal - when technological and regulatory changes render a technology obsolete, it becomes worthless. It will happen to others over the next 20 years.
If you are passing on your wealth can you do it in a way that they don't have a choice or that at least a portion of the wealth is managed in a way that they can't mess with it.
Quote from: Retire-Canada on March 24, 2016, 04:49:30 PMQuote from: zz_marcello on March 24, 2016, 11:18:13 AMThe real challenge will be that my grandchildren will get the same message...If you are passing on your wealth can you do it in a way that they don't have a choice or that at least a portion of the wealth is managed in a way that they can't mess with it.But you can't make it in such a way that they have to pass it to their children in a way that they can't mess with it. But the greater threat to family fortunes is having more children. If you have 3 kids who give you 10 grand kids, each has only 10% left of your original fortune. In the past aristocrats would leave everything to their first male heir for this exact reason. That is why they where able to sustain great wealth over hundreds of years. Also if you get your allotted portion you will feel it's yours to do with as you please. But if you get everything and your siblings get nothing, you will feel it belongs to the family and it's your job to manage it well.