On How Much to Leave to the Kids The perfect amount is enough money so they would feel they could do anything, but not so much that they could do nothing. Dynastic fortune turns me off. The idea that you hand over huge positions in society simply because someone came from the right womb, I just think it’s almost un-American.
On How Much to Give to Charity Ninety-nine percent of what I have will go back to society through philanthropy, because I’ve been treated extraordinarily well by society. I’ve worked in an economy that rewards someone who saves lives on a battlefield with a medal, rewards a great teacher with thank-you notes, but rewards those who can make money in securities with sums reaching into the billions. I agree with Andrew Carnegie: Huge fortunes that flow in large part from society should in large part be returned to society.
Just about everybody knows that Warren Buffett is one of the richest people in the U.S. This eighty-two year old is known as the Sage of Omaha. He started out a poor kid and grew his wealth with plain practical sense as he calls it. My GOP friends most often cite his kind of “pulling yourself up by your bootstraps” as the perfect American. But, it seems that to many he is just too liberal to be included in their “go to” list now.
It just recently struck me that maybe Mr. Buffett is the modern day Will Rogers. Many of his thoughts ring true as Will’s did in his day. The quote just below his picture above could have just as easily come from Will Rogers as Mr. Buffett. I plan on putting together another database just on Mr. Buffett’s quotes. The two in the quote above are at the heart of much of my recent thinking.
Leave the kids just enough that they can do anything they choose but not so much as for them to think that they can do nothing. It couldn’t be said more clearly than that. Giving huge fortunes simply based on the womb you came from is totally un-American to me too.
I don’t have anywhere near as much of a fortune as Warren but I also plan on giving 99% of it back to society from where it came. To do otherwise I also deem as un-American and un-Christian. It saddens me that so many of my conservative evangelical friends seem to think otherwise.
Here is to you Warren, you got it right in this and many other aspects of life….