sounds like 50cent should have spent more time with his kid when he was younger to teach him life lessons.

I can't imagine letting it get to that point with my son. He just started high school, but he's already looking forward to getting a summer job - he's so excited to earn his own money.

We also live below our means, spending on what we need, but trying to avoid frivolous spending. Occasionally we take international vacations that the average family might not, but otherwise you probably wouldn't suspect us of having any wealth. His friends' families generally have nicer houses, more expensive cars, etc.. I feel like it's my duty to keep him grounded during childhood. We talk about this from time to time actually. Hopefully being conditioned to spend money on what's needed but not on "all the material things you could want" will put him in a position to not feel the need to seek money from us in the first place.

That said - I would like to start him out with some bitcoin savings at some point. I think the optionality of having a bit of savings is healthy. I do worry about the timing and how to go about this though. It might be best to wait until he's established himself and already self-sufficient.

I think a lot about this.

I might try and live pretty humbly no matter how high Bitcoin goes. I want to teach them to find a skill they are good at and love doing, then just be the best they can in that field.

Another idea I've been thinking about is from the book "The Richest Man in Babylon". There's a part where he gives his son a bag of gold and says come back in 10 years with more (it was something along those lines). He wants to know that he can trust his son before leaving his fortune. I like this idea! Give my kids a million sats each on their 21st birthday. Tell them to come back in 21 years with wholecoin status!

Something I think a lot about also. My old man has a lot of faults, but he did instill a strong work ethic. Leading by example would seem to be the best way. He would wake me at 5am to help him pour concrete etc.

I totally agree with you and 50 cent, I recently watched a report where CR7 had a similar opinion about his son "Cristiano JR." that he was a lazy kid, who literally felt entitled to everything because his father literally had everything, and he explains how difficult it was for him to get to that point, how hard he had to work to have everything he has today, but his son is not able to understand it because he simply feels entitled to everything.

I personally think that it is something that can happen to anyone, I have worked since I was 15 years old and I could say that I know what the value of hard work is, and I intend to teach my daughter the same way.

I think that is the real point of observation in this matter, since everything depends on the education that we give our children, and the way in which we teach them the value and sacrifice that must be made to obtain something in return.

If you give everything without holding back, at some point that will not end well, it is unacceptable for someone who is 27 years old to ask for child support from their parents or to be supported because of them, at that age you are already an adult under all the law, you must be able to be independent and support yourself.

The path of least resistance for parents is to just give in to all of your kids' whining and demands. It takes resolve to hold the line and say "You can do that yourself" or "You don't need that" or "That's isn't the way to get what you want".

All of those little life lessons add up and build habits of self-reliance. We're going through a lot of those with our daughter who still resorts to whining and crying to get what she wants.

Take them to developing world slums when they are young to see how other kids live. They lose the entitlement quickly when they see kids their own age digging trough garbage looking for scrap metal to sell.

$10k a month at 27!! Wow. Sounds like 50 cent is blaming his son for his own bad parenting. Why does he keep the payments going? He's correct in that a 27 yr/o can fend for themselves. He probably needs to exercise some tough love and maybe watch this movie

The son of 50 Cent is his son after all. If that is his mentality then it must be because he got it from his progenitor whom is 50 Cent in this case. Create a son maintain a son.

Lead by example. Unless you are around P Ditty

Make it clear that you expect these kids to work for a living and build their own life.

Seems pretty easy for 50 cent to make his kid appreciate $10,800 a month. Let him try 0 a month for a while… or forever.

The Golden Ghetto - The Psychology of Affluence (PDF, 14MB) by Jessie H. O'Neill

There are many "wealth-related problems" besides not having enough wealth, prepare :)

Trust this is where Africa is different from the rest of the world! Child support is wild here 😀

This is a tough one. My father was really strict with me in terms of teaching me about hard work. As a result, I kind of went the other way with my kids. I like to make everything easy for them. It's hard to know when to step back and let them fail and struggle. I trust they will learn about hard work eventually.