No, this is not an article directly about Iggy & The Stooges and their 1977 hit song. I wanted to write something today about creating your own wealth in life versus being presented with trust accounts and family inheritances.
I’m an advocate of living life without holding-out some sliver of hope for a major pay-day from a distant relative. My parents and anyone else that may be considering adding my name to their last will and testament should spend that money during their lifetimes, wherever possible. They earned it and they deserve to enjoy the benefits.
Although, wills and other estate planning tools are absolutely necessary, make sure yours are in place. The orderly disposition of an estate is far preferred over ignoring this issue and leaving an intestate mess for everyone else to clean up.
However, what I do find pathetic is the expectation for crumbs off the plate. The loss of a loved one is only made worse when there are disputes over what’s left over. Plus, I don’t know how you can honestly live your own life when it is funded by someone else.
“I would rather make my name than inherit it.” ~William Makepeace Thackeray
Enjoy The Shins “Simple Song” off the upcoming record “Port of Morrow”
What’s the better way for you to live, making your own way or with a sizeable inheritance?