Immaterial of how much money you have (or do not have) you will still leave an inheritance for your children. You will leave your beliefs, your style, your political view, your lifestyle choice, books, movie choices,…..for your children to imbibe.

So most rich people will leave a rich life style anyway for their children. The big worry is ‘have you left them a profession that will let them earn enough to maintain that life-style?’

What if you are a very successful professional and your son/ daughter just did not have the capacity to become a professional – how will they ‘inherit’ a successful practice?

So you will leave money, but not your best asset – the assured cash flow.

Minimalisation actually helps your children live a simple life without feeling deprived. That is a good learning that you can leave your children. Surely we will all leave our children some rupee assets – direct equities, mutual funds, ulip,…whatever. However, do we leave them money management skills? Do our children have the skill sets to manage it? Have we tried to teach them?

Many women and children believe that it is the father of the house who should manage all the finances. If you can teach your children how to manage money that is an awesome inheritance to leave.

Have you told your children that in case they are not interested in managing the portfolio, they should just sell it and put it in an index fund?

and that the index fund will be hurt very badly during dull periods – but they should stick around?

Think hard about what all you want to leave for your children. The process of earning money. The respect for the tax authorities (immaterial of how much you hate them), the process of record keeping. The culture, the values, the books that you read. The books that you will leave as an inheritance.

They will also want to see your moral compass. Was money earning the sole obsession of your life? that may anger them against money – beware. If you do not leave money management skills make sure you leave the sense of using simple tools like Index funds and not complex tools like Futures and Options.

So take time off and think. What are you leaving your children?


Skill sets?

Monetary assets?

Asset management skills?

A mad money chasing image of yours?

Ethics? Morals?


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  1. After reading I got reminded of the invaluable habits about money(and real Money too 🙂 ), minimalism/frugality, eating habits, record keeping which my parents taught me during childhood. Filled with gratitude and thanked them, just now !!! 🙂 ( instead of waiting or inhibited to express it some other day) ! feeling good! Thanks!

  2. Thought provoking, which reminds me of the English proverb “give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”

  3. Good Post Subra!

    Great advice for parents. Showing kids how to live a simple life and manage money with record keeping can be changing for kids.

    Personal Story:
    My father was very happy one evening. I was just looking at what was happening. Someone ( i think the neighbor) asked him, Shu vaat che? (whats the matter?). He said he got dividend check from Reliance. I saw him noting down in a book.
    That day, i got interested in Stocks and Dividend. I was 14 years old.

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