Dear baby,
It’s been a week since you arrived in this world. Welcome again to the family!
I am secretly happy that you and I have the same eyes, lips, chin, temper, horoscope, blood type …
Baby, when you grow up, will we share the same philosophies about money and investment?
Will you have the passion for properties like what Mommy has?
Maybe one day we can go flat viewing together. On weekends, we can go to see ‘showflats’. Oops! Sorry Mommy’s using the old-fashioned word again. I forgot that you call them ‘virtual reality suites’, right?
If you’re interested to know, I’m happy to tell you all about property investment: when’s the perfect time to buy, how to pick good properties, how to find a good deal, what to look for feng shui …
For your sake, I’ll continue to learn through the years to broaden my knowledge and sharpen my skills.
I have confidence that you’ll have the intelligence to observe and grasp what I’ve been practising over the years.
But baby, I won’t be leaving you any of my properties, in fact, not even a single cent.
I’ll leave all I have to a friend/relative in need and to a few charities that I always support.
I agree with Donald Trump says in his book Think Like a Billionaire: Everything You Need to Know About Success, Real Estate, and Life,
When planning your estate, you have two responsibilities:
1) Not to burden your children with undeserved wealth that could paralyze them, preventing them from working hard and achieving their own measure of success.
2) To make a legacy for yourself that revolves around charitable giving.
I’ve seen too many people without the means to maintain the properties and save the wealth left behind by the last generation. They’re desperate to sell those properties to split the money, and end up with nothing much before long.
With the knowledge that I impart to you, rather than inheriting just a few properties, I’m sure that you have the ability to buy tens or even more properties on your own.
Economic crises, loss of employment, bankruptcy, etc. may bring you down one day. Just remember the values and wisdom that Mommy has taught you. I know you can always get back what you’ve lost and come back stronger than before. 
I just see you smiling in your sweet dream. Can I take it as consent from you?
Don’t worry, I won’t be setting any high expectation on you.
I promise you that high standards are meant for myself only (and also on the quality of my properties, the service of my agents and lawyers, etc.)
Because Daddy and Mommy have passed on the genes to you, remember that:
1) For what we’re not able to do, we don’t expect you to do.
2) For what we’ve achieved in life, feel free and take your time to achieve.
One more thing: Mommy believes that life is a marathon. No professional runner will go for a ‘head start’ early in the race and exhaust himself at the end. So take your time, set your own goals and enjoy the sceneries along the way.
P.S. Mommy will always love you!
Love,
Mom
cute baby ^^
cute baby ^^
Thanks : )
Thanks : )
Belated Congrats to your new born.
A new chapter begins in life.
We would like them to share certain values but the difficult part is how to pass on those important values – humble, hard work, thrifty, respect, caring etc. Times are so different.
Why eat in a neighborhood kopi-tiam instead of air-con food court, kopi-tiam coffee vs Starbucks
You might think of doing things one way but your spouse may differ.
There’s a need to compromise.
Financially we may are able to provide most but it’s a double edge sword – should we or should we not. You would need to consider peer pressure, how your child would be affected etc.
The many “Whys” or “Why not?” you have to answer or explain to the child.
You want to expose the child to everything under the sun so she’s not short changed , realize her potentials to the fullest or risked one day she asking why didn’t you sent her for this or that.
We would tends to give what we have have not during our time.
You have only 365 days a year.
You’ve have the fine act balancing everything – academics, sports etc.
Or a Tiger’s Mum you want to be 🙂
These are stressful times both as a parent and with your spouse but the journey would be an exciting and enriching one as bonds are built.
A penny for your thoughts
For what we’re not able to do, we don’t expect you to do.
Even if we are able, we should not expect the same. Most fall into this trap.
For what we’ve achieved in life, feel free and take your time to achieve.
Each is an individual – runner, swimmer, artist, actor etc
Achievement comes in different forms.
Some are fine with just being happy and at peace with oneself.
Expect nothing in return and you’ll not be disappointed.
I totally agree with you on not to burden your children with undeserved wealth that could paralyze them, preventing them from working hard and achieving their own measure of success.
Whether to pass on your assets … jus keep them a secret … things may change.
Cheers
Thanks for sharing from your rich experience of parenthood.
I think I’m a very relaxed mother – just like my parents who never impose pressure on me nor expect anything from me, especially academically.
Nonetheless, I’ve learned and I’m going to practise some useful guidelines from the book “The Millionaire Next Door” in which the affluent shared how they managed to raise successful adult children:
1. Never tell children that their parents are wealthy.
2. No matter how wealthy you are, teach your children discipline and frugality.
3. Assure that your children won’t realize you’re affluent until after they have established a mature, disciplined, and adult lifestyle and profession.
4. Minimize discussions of the items that each child and grandchild will inherit or receive as gifts.
5. Never give cash or other significant gifts to your adult children as part of a negotiation strategy.
6. Stay out of your adult children’s family matters.
7. Don’t try to compete with your children.
8. Always remember that your children are individuals.
9. Emphasize your children’s achievements, no matter how small, not their or your symbols of success.
10. Tell your children that there are a lot of things more valuable than money.
Between the incessant breastfeeding sessions, I am also thinking about how to practise “living well below your means” and creating a “self-imposed environment of scarcity” … I’m convincing my spouse to sell our current house and buy/rent a 3/4-room HDB flat nearby 😛
Convincing your spouse … ha! ha! That’s the hard part.
I am practising “living well below my means” and creating a “self-imposed environment of scarcity” …but my spouse often questioned why ?
We can well afford it now why scrimped ..who do you want to leave all the monies for .. quite true.
Guess we have to find a balance.
As for myself, I have move from a 4 rm HDB to stay with my in-laws (3 of us in a room), a studio with a build-up loft area in the living room as her bedroom till she was 12 years and then to another studio with a study table cum pulldown bed converting to her bedroom in the night.
This was done mainly to facilitate the travelling time from school and her synchronise swimming..
She has got some “rich friends” staying in big houses and have a proper room.
Some of their kitchen is bigger than my house.
The greatest challenge would be for you to stay where you are and yet able to pass on “life lessons”.. the other way.
Don’t read much but I scored 8 for the pointers “The Millionaire Next Door”.
You are a ferocious reader, where do you sourced the books from ?
Watch out for the magic moment .. baby’s first few steps and first word ..
For mine, the first few steps … it just takes a balloon to forget the fear …
Cheers
To convince your better half, only fight the battles you can win …
Yes, I’m very much a bookworm. If I’m interested in a topic, I read everything I can get my hands on. Always keen to learn from people who are smarter and have more insights than me.
Like to find best sellers or new arrivals. I prefer to reserve from the library. That way I can get hold of the books much faster than buying online. It’s also more cost effective.
Congrats PS, I will welcome my first baby girl early next year. I also have the intention to teach my kid the same way as you do: live a simple life, there are more good things above money.
Thanks for sharing
Congrats! You will find lots of fun with your bundle of joy.