Buying a house with family

[Mr. Fabulous]

How come my family isn't super wealthy

Reply: 2.3.1.2.1.1.1.1.1
From: Mark Laszczuk


Matt,
Totally agree with your points there. I also worked FOR my dad on and off (when we were on speaking terms, which wasn't often). I had to pay rent while at home, too but didn't mind, cause me mum was struggling as it was, and I didn't mind helping out. However, I do agree that we as a nation should not put our hand out to our children, but rather encourage them (from as early an age as possible) to save money and buy property/shares/whatever, just as long as they don't squander all of it! But I'm saying this with no children of my own, maybe others have different opinions. I think it was Teddy Roosevelt that made his children put half of their pocket money into a savings account and they had to account for every single cent of the rest. One of them grew up to become the president of Chase Manhatten Bank. A very good idea that I will certainly be teaching my kids... when I have 'em.

Mark
'no hat, some cattle'

 

[paulzag]

How come my family isn't super wealthy

Reply: 2.3.1.2.1.1.1.1.1.1
From: Paul Zagoridis


J P Getty made his kids account for every cent as well as save half.

I lived at home and didn't pay rent. My FNQ raised step-father seemed puzzled but my mum wouldn't have accepted rent. I bought an investment unit instead. I moved into it (briefly) when they split up.

I've also worked with my father, then went off for a second stint of real-world experience. Our theory is to gather knowledge and perspective to apply to our businesses.

I'm about to take over one of the family businesses if I can convince dad to stay retired and out of day-to-day operations.

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/

 

[Mr. Fabulous]

How come my family isn't super wealthy

Reply: 2.3.1.2.1.1.1.1.1.1.1
From: Mark Laszczuk


Paul,
Congrats on being one of the lucky few. I firmly believe that we live in a 'me me me mentality' society, where people will grab whatever they can, whenever they can, from whoever they can, including (and especially) family. Me? Well, I'm gonna make sure that my children have to work as little as possible, cause there's too much life to be lived to be stuck in employ (unless they want to work, of course). Then I'll hassle and hassle and hassle 'em until they see the light, ha.

Mark
'no hat, some cattle

 

[paulzag]

How come my family isn't super wealthy

Reply: 2.3.1.2.1.1.1.1.1.1.1.1
From: Paul Zagoridis


I'm not sure "lucky" applies. My last post on this thread did read quite chirpy.

I left out the grizzly details of the last time Dad and I worked "together". 3 years of it and the last 12 months or so arguing daily. It's a long story I wont go into here.

Hopefully we are more on the same page this time around. At least I've got him tuned into Kiyosaki this time around.

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/

 

[Mr. Fabulous]

How come my family isn't super wealthy

Reply: 2.3.1.2.1.1.1.1.1.1.1.1.1
From: Mark Laszczuk


Paul,
What I meant by lucky was that your parents seemed to encourage you to build businesses and invest, rather than take money from you and teach you nothing.

Mark
'no hat, some cattle'