Bitcoin Forum

In asmuch as there's more need to embracing wealth, there should be some degree of planning towards the financial stability to ensure the younger generations inherit assets. Nevertheless the importance of financial planning should be the order of the day and hence we should educate our children or rather indulge them to take parts of every strategies that would enable them achieve the colorful results of being financially free and debts free.

Overtime debts has had a greater impacts on the overall wellbeing and financial state of an individual thus it has affected them negatively resulting in bankruptcy and sometimes mental disorders so it's high time our children understand this and come out of it earlier the better and with this I'll like to point out some positive areas that would benefits them in living a debts free life,which are;

1. Decision making: This criteria is versatile and effective for every individuals to make the right decisions, you can be able to make reasonable impacts in your life and around you.   

2. Financial education: there's need to seek financial
educational advices and guidance inorder to live a debts free life, it could be from a mentor or someone you look up to....

3. Planning: this stage is very crucial cause it determines the outcome of every successful business, individuals etc it's equivalent to budgeting which is essential in making clearer decisions, so set up a budget and plan and follow it up for more substantial growth.... 

4. Savings/ investment: This is another aspects and areas that needs to be adopted by every individual including our children, they can start small and with time it'll grow into something big.. inorder to achieve long term goals one needs to prioritize this factors so well inorder to grow wealth and be financially stable.
So then I believe this point would not just help our younger generation but it'll build them Into long-term successful independent individuals void of debts, so I plead with y'all to indulge your children to inherit keys and not debts.

Only the worst and the dumbest people make their children inherit any kind of debts. It is several magnitudes worse than not giving them anything at all. This is not really a discussion, this is common sense.

Fun little theory you got from an AI. Still reality paints a completely different picture. There is probably not more than a couple thousand people in the whole world who do all of these things. People who are not regularly saving and investing are not people who are doing 1,2,3 anyway. Most people do not have any investments at all except some automated investment stuff that is either government mandated or that their bank up-sold them through some sales tricks. These do not count obviously.

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Of course Nigerian local board poster and merited by who other than Mia Chloe. Can you guys make your farming a bit less obvious?  ::)

Can you further buttress why you mentioned me here ? I'd like a proper explanation.

We are to take and make ourselves meaningful. If we are to pass inheritance to our children which will succeed us in the future, many times most people really don't have the future at mind that is why they live life without any sense of purpose and direction. We should know that our unborn generation will grow up one day and ask critical questions and how you live your life will determine what kind of impression which they will have towards you.



Making the right financial decisions is key to securing a better financial future. Most times people don't give much attention to how they spend their money. Money should be spent in such a way that will bring in money, this is were the role of investment comes in. Investing your funds is one thing parents should make so that, the future of their children will be much more better and comfortable is making good use of their finances and that will be only guaranteed via investment.

Handing over debts to your children is giving them a rough start to wealth creation. It's fault on the party if any parents that their wards starts life by paying their debts. You're responsible for the decisions you make as an individual and worst case scenario be sure it's to your own detriment only, it is only best to leave assets and riches for your next generation so it becomes the stepping stone for their success( for sensible children).

Savings direct make someone very rich but investment does. It's past the time people safe more to secure the future, now investment is key and if you check the richest men, none of them made their fortune through savings, they're all investors and innovators so most focus should be tilted towards investments.

Invest your money for your children education that is helpful and vital for their individual growth from education to career in the future. If you can have further money for investment in bitcoin and give your children inheritance, it's good but it is not mandatory. Education for them is key and most important for your children. If they are well educated, they will be able to find good jobs, receive good salary and can use it for purchasing bitcoin by themselves.

If you only give them bitcoin, but they can not work by lack of education, they will sell your bitcoins in the future, and even live in poor conditions after selling their inherited bitcoins.

I agree, the text is very similar to the AI's, but the OP carefully edited it, although the idea is rather empty to me. What debts are we talking about? Children are not responsible for all the sins and debts of their parents. All the other points can be stated simply: it is the parents' responsibility to provide their children with a proper upbringing, an understanding of the importance of education, and the education itself. The fact that children study somewhere, wasting their time, and subsequently become a burden on their parents, only indicates that the latter did not explain to them the need for this time to acquire knowledge. Discussions about debts will be irrelevant when parents understand that they will not take out a loan at all if they have no plans to repay it. All other problems should be solely the responsibility of those who owe money, not the children, although this may depend on the country of residence.

Being in a financial crises with an accumulated debt is the worst disease that killings an individual very quick and silently.poor financial management and planning can lead to such trend.its pertinent one adopts some measures such as prudent spendings and number of children one can comfortably cater for.This will go along way to curtail unnecessary and unplanned spendings which could stretch one into bankruptcy.

A conscious father will know what his children needs in this current dispensation is the keys to the wallet of the inheritance left for them and not any other form of money or asset, because this will make them more independent, also, they needed it than any other, not that we leave for them settlement debts to pay after us, this will be the worst form as parents to leave behind us, because the children deserves more.

Education is very important for the kids to excel in future life. When I was a kid there was no Bitcoin but since my father has given me education and that has helped me in understanding every new emerging technology like devops, Bitcoin, IoT etc. You are quite right that if we deny our kids from quality education then they will just sell Bitcoins they inherit. It's good to teach your kids what Bitcoin is and how to make profit in it by holding it for long time. If your kids develop such skills at very early age then this will help them in future life, just giving them Bitcoins won't help them in long run.     

Fortunately many people don't want to leave debt for their children but it became inevitable for them, there are too many examples in my own country where hardworking men works for responsibility sake and eventually life hit back harder and every further solutions leads into debt one after the other, for I am only a human, who am I to say that I know what will happen in the future? All I gotta do is hope for the best and keep climbing harder, many men think they are beyond falling but history have shown the opposite, may the unexpected bad ending never befall me and my family, humans hopes and heaven makes the decisions.

Lack of financial management and proper plan can lead to debt which is the main reason why a father take proper responsibility for the welfare of his children and send them to school in order for them to be educated. They can also learn a skill so that they can be able to have good jobs and take care of you in return at old age. Debits should be avoided. When you invest, you will definitely make them proud.

I totally agree with you, the truth remains that the debt a man can free himself and it's family is two sided either giving them sound education that can allow them make good decisions or give them better skills that can put better food on their table or acquired a better assets that will make the children not suffering while taking Care of him at Old age all of this broiled down as a result of good financial planning, to achieve this planning many not need much but required articulating and focusing the future because many parents even hard what it takes to have good plan for themselves financially and for the children but failed in the planing, the story of the man who sold his property and invested in BTC was a man who had futurists planning such an investment for seen the future as such asset can can position it's family to a better living compare how some spend their wealth on liability with planing in future.

First, I think this topic is better fit on the economics board, but think moderators knows better.
Patenting responsibility comprises of all of these factors that has been mentioned, I know that some parents can be careless in the upbringing of there kids but yet we can not take out the fact the all of these are the necessary roles that parents are supposed to play in the development and upbringing of their offsprings. In the aspect of wealth inherent, many parents are not able to acquire so much wealth to transfer to their kids but at least training the kids in the right way will also make them to put a relentless efforts into achieving what their parents could not.

Exactly, but some family do have problems even before the father left them, and the problems are usually financially because we can’t always control these children as they both have different interests in mind; therefore, I think proper management is needed by the father before he depart so that he will not leave them with problem and crises as family.

I feel like having separate wallets for the children is also important, as well as crypto education because some parents do die and their Bitcoin is gone because they kept their seed phrase for themselves and didn’t share with their children or any family relative.
Child crypto education is needed especially the basic knowledge so that if you keep Bitcoin for them, they can be able to access your wallet.

No parent wants their child to be burdened with debt. All parents want their children to be happy in the future, that's why they always work hard. However, if you look a little, you will see that our current population has much less opportunities than that, and many people get into debt while trying to raise their children properly. In many cases, they cannot pay off that debt completely, and later that debt falls on their children. They do not do this intentionally, you can call them victims of circumstances. Therefore, all parents should educate and raise their children to be well-educated and skilled so that they do not fall into danger in the future or if they are victims of any adverse situation, they can come out of it properly.

No doubt that it's the responsibility of every parent to carter and bring up their children in a way they won't be nuisances in the society.Many parents have undergone financial mistakes and it should be an eyeopener to the children and not a burden to them.Growing up,I've seen many cases where parents pass away,leaving their children with debt,I think that's the idea the OP is sharing but in my own thought this topic belong to economic board.Let's pave way for our children and not be a burden to them financially.

unfortunately not all parents have thought about enough their children’s futures it’s really sad because they clearly did not think of family planning all that well so their kids are the ones who end up suffering

Don't get me wrong but whereas in a situation regarding making a huge mistake I still stand to be corrected, but nevertheless most parents take up the responsibility of their children by making sure they never lack anything and that alone doesn't fortify the fact that they ought to be financially stable. Due to the fact that most parents do everything for their children the young ones find it difficult to be independent and face whatever challenges and hence most of them ain't properly guided and are pushed to making certain decisions that may hinder them which can results in debts.

But then giving them proper knowledge about everything and guiding them would help in the long run, so all I'm saying is since they ain't in full custody of their parents most of them become indebted to things. Eg gambling from a tender age with no prior advice can result to alot we know about including being in debt probably trying to keep up the activities.

Leaving unpaid debts for your kids is the most cruel thing to do to them and I would never forgive my parents if they did that to me because it can be very frustrating bearing the burden of debts, this is one of the reasons why I have Bitcoin investment, I'm very much concerned about the future of my kids and I'm doing the best I can to secure a better future for them through Bitcoin investment and other physical investments that I can lay my hands on. My parents are good people and they gave us a good life but they didn't have the opportunity to know about Bitcoin to secure a luxury lifestyle for us but now that I know about Bitcoin I will make sure to do for my kids what my parents didn't do for me.

Those parents that inherits their debts to their children are irresponsible and selfish. They don't want their kids to enjoy life after they become grown ups. I agree that we should leave them with a good inheritance like keys or some bitcoin holdings. But don't just go easy on them and give it as if they are splurge it whenever they can. They have to work on it as well and needs to understand the importance of owning it. Because we as holders, we did hard time in accumulating it and exerted hard work and patience through it. So, they should go through the same process to understand how we give value to it and so they would be.

There was a movie I watched sometime ago a man has so much wealth and properties however he believed that if he leave those properties for his children they will never value it and they will misuse it and then end up broke so he decided to borrow some amount of money and used his property as collateral meaning if he does not pay the money they property will be taken away from him so when he died his children were left with those debt and they had no other option but to work so hard using their father's properties and wealth to generate huge amount of money which they use to pay the debt off, in this situation will you say the father did the writing or he was unreasonable for living those debt for them to pay, remember his father did this in other to make them value what they have and to make them work hard to protect the property they have already in future.

In a reasonable sense , I don't think any parent or guidances will want to leave debt for his children Instead of wealth because it will not be good at all for those children to start with since they will have to pay the debt first before any other thing.

Incuring debts must have being due to health issues or a serious problem they must have find themselves before their demise, who will want to punish their children with such act.

A good parent will always avoid debt and his children to also avoid it because it will set them back for life, and will always show their children how to create and dwell in wealth in other not to face any financial challenge also introduce them to his keys if he has any, no parent will be happen suffering his children financially through debts, I don't think I have heard of a delebrate act like that.

Sometimes parents do not intentionally accumulate and leave debt for their children, life may just happen and an event of tragedy is not something planned for you know.

For parents to be able to leave keys for their children means they must have been into crypto currency for sometime and have been committed to DCAing or accumulation of Bitcoin or any other crypto currencies for long.

Else, what good is the key if it opens an empty wallet?
Wouldn't it have been better there were no keys and no debt instead?

I agree, all these are mandatory. Since parents from the previous generations made sure they had a store of wealth reserved for their next generations is the same way we in this generation should do. I get your pov and since we're the first set of bitcoiners in this generation, it is mandatory we make good plans and systems that will help out children. Teaching and educating them about bitcoin a foundation bit we should and can also create systems for the next generations.

No one wants to be in debt, there is definitely an influence of the situation here. Yes, I agree with you that financial management and planning are also a big reason for being in debt, but the increasing corruption in the society, inflation and the increase in the price of goods are the main reasons for being in debt. Basically, due to the increase in corruption, poverty is increasing in the society and people are getting more in debt as they need money to meet their daily needs. If you look closely, you will see that there are some people sitting in many high positions in the society who are not worthy of it, but they have taken that position by corruption and are taking advantage of that position and are committing more corruption. If there is corruption there, where the opportunities are less compared to our population, why won't the people be affected?

You just made a strong point. Planning of finance is one of the best gifts given by parents to their children. Educating them on decision making, budgeting, saving, and investing on time would help them stay away from debt and how to raise lasting wealth. When lot of people focus on financial education at home, we will record very few financial struggles and more independence in the coming generation.

Yes we should teach youth on money to leave property and not debt. It is request that parents should teach their children about financial skills at early age to bring long term happiness, especially since debt may cause bad issues such as bankruptcy and mental illness. In order to live good life that is not full of debt, you provided four steps that include making smart decisions about spending, having guide who can provide you with money advice, planning to have clear goals and beginning to save and invest at young age to grow over time. Simply, solution is to teach future generation on how to be financially free and provide them with keys, not debts.

If children are taught about financial matters from an early age, then those children will definitely be able to acquire very good skills and knowledge in financial matters. They will be able to take the best decisions in any matter related to money in the future. A person is not suddenly able to take the right and good decisions in financial aspects. He has to be educated in advance to be experienced in this matter. The next generation is the key to financial freedom for some and the burden of debt for others. If children are not given the idea of ​​financial education from an early age, then their chances of getting financial security in the future will also decrease.

Im trying my best to set my kids up with some bitcoin, college savings, and even some physical assets but along the way there will be so many golden nugget lessons that I am teaching them now/ will teach them in the future. As parents it is our job to ensure a proper moral upbringing. Provide them with good faith and virtue, chores for work ethic, proper education, and a platform for growth!!!! Then as they grow the money you invest for them does as well :D

I think the topic of inherited debt is more relevant than ever, because I was recently talking to friends and heard that it's a reality now, parents' debts can be passed on to their children if the parents didn't have any insurance against this. But that's not what we're talking about now, here we'll discuss inheriting Bitcoin for our children, and I want to say I agree, that they shouldn't inherit everything so easily. I think we should first teach our children how to manage money, teach them how to earn, save, and invest. Only after I'm confident my children know how to handle money will I be ready to pass on my coins to them, because I'll know they're capable of managing them wisely and, with proper care, can even make them grow.

Parents should pay their debts before they die. Parents have responsibility to their children. If they have debts on death it will be taken from property before given to people who will inherit. Children should inherit private keys to access the crypto they were left. They will not inherit the crypto if keys are lost.

If we want our new generation to be not only well-off but also morally strong, we must work on that too. The current generation seems strange, at least in my country. They're very infantile, and the boys look physically weak. When I was young, we preferred not to dress oversized and to be gentle; we showed athletic bodies and a cheerful spirit.

Therefore, it's crucial not only to invest in your children, to give them a personal example, but also to nurture them spiritually and physically.

^ Now the world is different, and different values are at helm in it (fortunately or not), but I agree: a good example and good care goes a very long away, starting from the young age.

and like what I've said before ,yet children must not inherit any thing that deals with money issue .
Imagine before they even become mature ,yet they already earned debits .
How cruel the world is if these teenies will suffer from such .

Parents shouldn't think of taking loans when they don't have a way repay back, it is rather they inherit good will landed properties even companies and not dept.
Children also need good up bringing so they also won't go on loan after the dealth of parents and also selling all properties inherited from parents, I have seen children who has sold all the properties kept by parents and this children are currently deptors and if they couldn't pay all this money they are still bringing more problem to their own children so it's we train our children in a good manners also.

I think that children should earn their own wealth rather than inherit it from their parents. The only thing parents should pass on to their children is knowledge and a good education, that’s essential for helping them achieve success on their own and learn how to set the right priorities in life. But for that to happen, parents themselves need to understand these things. It’s unfortunate when parents leave behind debts instead of a solid foundation for their children’s future. However, if you look at it philosophically, children who learn to earn a living and pay off their parents’ debts develop stronger financial skills. Once the debt is cleared, they’ll likely have a higher capacity to build wealth, and that experience can actually serve them well.

Definitely an economics board topic because it is centered on finance, the topic does not focus on Bitcoin discussion.

Parents bring children to the world therefore it is their responsibilities to raise and cater for their needs till they grow up and become independent adults, any parents that cannot do this have failed in their primary duties. This is why it is adviced to give birth only to the number of children that they can take care of so that they will not overburden themselves with avoidable responsibilities. The worse is leaving dept for children instead of inheritance, that is the worst height of irresponsibility in parents. Unfortunately many parents due to hardship don't leave any inheritance for their children but if they cannot leave anything for them it will be highly unfair to put undue burden of dept on them.

Those parents that does that, I think that I can understand where they're going with that. They want all the best for their children but they haven't seen the after-scene of their actions like taking debts.

And so, with the thought that it's okay to take as much debts as they can while being employed and have some money to pay for the debt together with the interest.

They have no idea that it's the one that will bind them for so long and it's going to be part of their system and might have no way of getting out of it if they're unwise.

I think that situation when children inherit parents debts works wrong. To make it work correctly, if we are talking about money, children should also inherit not only outcome (debt), but income also (pension). Then this would be fair.

Regards crypto keys inheritance, children should have it, but according to rules and testimonial. After 6 months of the date of the testator's death to apply to a notary with a declaration of inheritance. Those money should not be given instantly. Maybe terms of "after 6 months" should be increased or special condition should be applied.

Children are natural, and generational asserts to a country if properly brought up. They should be trained and equipped with the possible resources, not the other way around. The basis is the ensure that they are left with the keys to greatness, not outstanding curse to settle.

Key to success is a blessing to children, and debts are curses to them, therefore, it is important to make provision for a fundamental lifestyle that will sustain children from generation to generation. I am submitting that keys to greatness are necessary, rather than debts.

If you experience already the suffer of the life for sure you dont want let your kids experience the same thing so most of us are having a hard time making our lives good as its finest so one thing we should do is to earn as much as possible and we are into the crypto world so there's a lot of opportunity right there to be taken for your future its up to you know how you will handle the risk but of course we would like to let our kids enjoy the life what they need and want to be so imagine if you are already successful in crypto you will just give them your private keys and not as a debt. For me if ever there's a chance Ididnt become settled at my age required I dont want to have child as of now because of the life currently im facing with.

Note that the key to a wallet that has BTC in it is not an empty wallet that is of no use, but for me the most important thing is that in having family planning before having children we must have a good life plan, then we can have a good picture of what the future holds, and yes, don't leave debts, this is a form of a father's inability to talk about finances, it's best if you don't have good preparation in educating your children and ensuring their future, don't think about having children first, otherwise it will be difficult for them and you in the future.  the front.

Just focus on collecting money and investing so that your finances can be more stable in the long term.