My Kids Shouldn't Inherit, They Should Fend for Themselves
- Mr. Crazy Rich
- Mar 25
- 2 min read
This blog post is admittedly pre-reading thoughts on the book Die with Zero, which this blogger will read soon.
The book is a subject of great local word of mouth, and, it is understood, indirectly only, suggests a certain budgetting for fun and leisure based on an individual’s age - an individual’s idea of fun in their twenties is different from an individual’s idea of fun in their seventies.
An individual shouldn’t have to wait till retirement before experiencing fun and recreation in life!
Such thoughts are probably more important for life than whether your kids should inherit a vast bulk of your wealth...
Margin of Safety in Intelligent Investing and Personal Finance
Again, this blog post is admitted pre-reading on the book, Die With Zero, which this blogger will read soon.
Ahead of reading this book, this blogger would question the practically of trying to quantify one’s emergency funds to precision (for the benefit of travel expenses for example) - one should always provide amply for a rainy day.
Just as a bridge should be designed to carry say, double its intended vehicular weight, so too should one’s budgetting for personal finance in life.
By contrast, spending on pleasure should suggest some degree of recklessness on the part of the average person, although the blogger looks forwards to reading further about the methodology for allocation for pleasure and recreation.
Indeed, this blogger believes that an individual’s efforts are better off immersed in a world such as Benjamin Graham’s Intelligent Investor - which talks about the idea of a margin of safety. The concept of margin of safety should be something you use not only in investing but in personal finance as well.
Always save for a rainy day.
Discussion of Alternative Books
On which side do you fall - dying with zero or leaving funds for loved ones on a rainy day?
The book Intelligent Investor can be found:
This writer will be reading Die with Zero shortly. In the meantime, if you have any comments, questions or likes, feel free to drop them in the discussion section below.
Comments