Children of successful parents have a leg up in life. Some believe that their success and wealth are theirs alone to enjoy. They might lose interest in making their own money to survive if they don’t realize how much effort their parents have put into giving them the current lifestyle.
You may already know someone with a famous parent and automatically assume the kid is well-off and can do anything he or she wants. They have nicer clothes, automobiles, the newest gadgets, a home, and a business. However, this is not the case for most parents. Many of them want their kids to learn how to live on their own and survive on their own.
NBA player, Shaquille O’Neal’s children are excellent examples of it.
Shaq’s net worth is said to be around $400 million. However, due to his wealth, his children will not easily acquire what they desire. That isn’t how things work with Shaquille O’Neal.
Shaq spoke about his views on how he raises money for his children on the “Earn Your Leisure” podcast. He was asked if he provides his children with ‘free’ money. With a loud and clear no, he replied.
He said that he has informed them many times that they must earn their own money. He made sure they understood that he would never give them money just because they were his children. They didn’t take it well, of course. Their father has shown them how to give away random people cash. So why not let them have some as well when he is their father? They don’t understand at first.
Shaq, on the other hand, is sticking to his guns and won’t give up a penny unless they’ve earned it. He stated. “They’re kind of upset with me, not really upset but they don’t understand. I tell them all the time, ‘We ain’t rich. I’m rich.’”
Shaquille O’Neal stated that he envisions his six children attending college and obtaining employment like the rest of society. Shaq also advised them that if they want their father to invest in a company, they should do so professionally and provide a compelling argument for it.
Shaq’s response was well-received by audiences who have heard this podcast. One person wrote: “I respect that! He wants his children to earn it! And he said that he would INVEST in them, not GIVE it to them.” Another stated: “He’s right , tell your kids that and make them have ambition and drive to get to where you’re at.”
Others, on the other hand, have mixed feelings regarding this issue. One person said: “I agree to some extent. I think education is very important. But people accumulate generational wealth also for the reasons that their children can pursue their real purpose and things they are passionate about that can make an impact on the world, whatever that may be. I think it’s honorable to want your children to have a drive so they don’t become lazy, but we have to think outside the box of the traditional standard. ”
Others, on the other hand, thought that if they were wealthy, their children would benefit first and foremost.
What’s your take on it? What is your opinion on the subject? Do you think that your children should work hard to earn their money as well?