Is Real Estate the Perfect Investment? - Financial Advisors React
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- เผยแพร่เมื่อ 8 พ.ค. 2024
- Is Real Estate the Perfect Investment? - Financial Advisors React
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Here's a thought. Passing on wealth to your children doesn't ruin them. Teaching them bad values and not providing them the skills necessary to handle life does. As long as they are taught how to manage those LLCs as they get older there is nothing wrong with this
Life sure does get easier with wealthy parents though.
@@explosivemallard8038 i don't disagree with that. I just disagree that everyone needs to experience shortage to be a good and successful person.
@@explosivemallard8038sure, and if youre a wealthy parent you should raise your kids to be humble and respectful
@@blockvfive1196 Agreed
"manage those LLCs" I grew up in this sort of household there is no managing them they're not real businesses they are shell games and should be very much regulated.
My relative got into real estate and when the 2007 financial crisis hit, his tenants all lost their jobs. Lost his three investment properties and lost his primary residence that was a McMansion. Every investment has risks.
He said they wont be able to afford a house, even now a ton of people cant even dream about buying a house, a lot of people cant get a morgage, i would rather give my kids a house than them renting for most of their lives, too much of a good thing can be bad, but leaving your kids a place to live is just not a bad thing
Why force scarcity when it’s simply not necessary? If you can help your kids, help your kids. They can still learn valuable skills while having things provided for them. I’d argue having stable housing is going to help that person grow a lot quicker.
This is why generation wealth 9 times out of ten gets messed up. Theres studies on it. We are evolutionary we cant value fruits of labor without labor... Humans need purpose n most lose it without having to strive for better which ususlly comes from earning your own money etc they will crack under pressure
Let's not forget that Dave Ramsey has talked about using this methods of controlling his kids also.
He then made the statement "Part if my job as a parent us to give my kids something to talk about with their therapist."
However you interpret the information is up to you.
Crazy assumptions made here
I gave my son a house. He spent 10 hours last night building fiber optic cables that allow people to give their opinion. He has served his country after graduating with honors!
LLCs can be more trouble than they are worth. I had the same idea this guy had because I wished my parents had rented my grandparents house and saved it for me!! I struggled as a teenager to pay my way. I made a different choice for my kids. FREE HOMES DO NOT SCREW UP YOUR KIDS!! Mine grew up collecting rent, cleaning rental property, mowing lawns, fixing windows, repairing drywall etc.
My son drives a Silverado that he pays for. In 2012, I got a front row seat to see how spoiled brats live. My son and daughter wore Walmart jeans and tshirts. Spoiled brats were wearing collared shirts with labels to play in the yard!! They looked down on my children. Then those children had to leave their homes due to foreclosure while I (we) held into multiple homes!
My dad tried the scarcity thing. Works for some. I’ve never felt like I had worth. He was a millionaire banker who made sure I was never homeless but I also never had enough to get enough going. I made bad career choices but he let me drown thinking I would just be hungry enough one day.
My dad didn't try the scarcity thing and my siblings still drown anyways.
Definitely diversify. He just said there is a bad market why would he push that only off as a means of income
I grew up in a trap house with addicts walking in and out of my house all day like a pharmacy.
The world is not going to end for your child by helping them start their life sooner.
Bad decision get made by young adults when they struggle a little too often when they can’t make a few rent payments or a couple meals or need to feed their kids. Take some stress off them, they’ll be fine in the long run.
I always here this. The currency of kids lives, are not money. That's their lot in life. Their true currency is what they accomplish, what homework they can do, what tournaments they may compete in.
All of that is the currency of the young person. Money is a plus 40 person's idea of currency.
Teach your kids to grind, and forget about scarcity.
America wasn't built on scarcity.
Give them the knowledge and values you learned on the way not the money
We have an IUL set up for our 2 year old that we are going to pay into until he’s 26 (might use some for college). That way he doesn’t see it but it’s there.
From my time working with a senior advisor at a large insurance firm:
"I almost never recommend IUL's. They've got great commissions but there are almost no situations where there isn't a better financial product that will meet the need. Most of them end up going bust and eating all the growth as the premium increases over time."
Oh hey, a parent that understands that the suit comes before the job. Your responsibility as a parent is to set your kids up to go out on their own, not kick them out. If you have to kick them out or they aren't set to go when they would, you failed as a parent cuz they're a direct result of your parenting.
Bringing back the dowry. 😂
On a serious note, I know we all think it’s misogynistic, but it is not necessarily.
Set your daughters up with land:property. Teach them how to handle money. This will give them independence and value to a marriage.
The guy never said anything about a BMW. Money guy knows the difference between an assets and a liability! LLC means he is protecting himself and his kids from liabilities. My son was in a car accident last year. He just hit some pine trees. He was on Bluetooth with my oldest daughter when he crashed. It was 3am. I was the first one one the scene. I handled everything and he walked away without even a ticket for not maintaining a lane. But the accident could have been serious. The insurance company gave him $27k for his truck. He only paid $23k for his newer model Silverado. He just got 2 pit bulls. No LLC. I'm holding his home in my name until he gets older.
My neighbors kids asked to jump on my trampoline. I told them no because I'm not insured well enough.
I gave my daughter and son in law a Free home. My son in law drills. My daughter is a mother and works part-time at the nursing home. My son in law will forever get a check from the military. They get healthcare at a very reduced price. My grandson just turned 16 and they plan to pay for his college with my son in laws GI bill. Free homes isn't giving your kids everything. I think more people wish they had taken advantage of the housing crash.
All you need to be teaching your kid is to enjoy life and to make sure that portfolio is fucking positive that's it
This cracks me up cause his kids couldn't afford them now.
Parents gave me a home when I graduated college. I was shown the value of hard work throughout my entire childhood and had to save for an buy everything I wanted, leading me to a successful career now. In the video he never said anything about giving his kids things like cars or buying them everything as children, that’s simply your assumption.
Your parents gave you a home, let me get this right, for graduating college? I’m calling bull on you having to save and buy everything you wanted.
Don’t hate the player hate the game
Disagree. Not allowing your kids to have financial security allow them to focus on things more important than money.
It’s not about what you give your kids but how you raise them that reflects in their future.
That is a fact and those kids are going to find out the hard way one day.
Nah, the LLC guy wins here.
If no one can afford to buy a house, then the house is worthless. It's only worth what someone is willing to pay for it.
Wrong, because they have to live somewhere, so if they can't afford it, they will rent it frfr
Everyone just telling stories in 2024...
Hopefully the real estate keeps them cash poor for the first 20 years. Then when they are 40 with kids they can parachute out.
Lololol already can’t honey… it’s a house or grandkids mom and dad 😂 and grandkids are gonna live with you so I can save some money
These hosts are clowns
Honestly there is nothing wrong with giving the kids a life where they can prioritize hobbies and what they like. You should at the same time encourage finding something they like and encourage getting good at that thing, not needing a shitty job and having to give up on dreams kinda suck.
he's effectively just making crap worse, but okay
Yeah no, we’ve reached a state in society that you cannot afford to not help your children. Cut it out with the nonsense 🙄
Buy your kids houses now. Vehemently disagree.
Arent people like him contributing to housing crisis? Lmao
Boomer mentality frfr
Nacy Poloci
These guys really have a lot of L takes
Withholding love. Is just as effective. You can actually get over that.
A question my oldest daughter asked me when she was a child. Why do our tenants wear Abercrombie and we wear Walmart? Now you can get Abercrombie all day long at Goodwill for $5. But the house I gave her is worth hundreds of thousands!
I didn't give her everything. I gave her a 3br 2b on a full basement on one acre of land with a big oak tree in the yard. My son in law put up a tire swing for the Boys.
They couldn't afford the house. They lived a rich Life in the military. They came home with what they could fit in the back of a BMW and my 2 grandsons. The house gave them stability.
I agree that hunger is the best motivation
First!
Urgh as a father, I like to understand, but I am sick of rent seekers and spoiled Instagram girls. Agree not the right lesson. Shame that houses became saving account and investment vehicles rather than serve their utility value.
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