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Found the below story below for parents of SN to discuss
Story from 50 Cent “ Fifty has a point... 50 Cent says, "My son Marquise is 27 and still asking for child support. I give him $10,800 monthly, but he says it's not enough."
"Success cost me my relationship with Marquise. At 27, he should be ashamed to ask for child support. He thinks being 50 Cent's son means he doesn't have to work. I offered to set up a business for him to earn $1 million a month, but he refused. He has an entitlement mentality, thinking my money is his. It hurts to see him so irresponsible. I keep saying this publicly, hoping he'll be ashamed and start working. No matter how rich you are, never let your kids feel your money belongs to them."
Moral lesson :Some of us at 17 we hustled on our own. I have been working since I was 15 years old. Sorry my son or not, I respect work!”
284 sats \ 3 replies \ @kenn_b 12 Oct
sounds like 50cent should have spent more time with his kid when he was younger to teach him life lessons.
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Definitely. I’d say he must of parented with money instead of his time possibly
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It's not just time spent. I think you could spend all the time in the world with your kid, and have them turn out to be a mooch.
The problem is that 50 cent encouraged this behavior of Marquise and subsidized it. Marquise is getting 10k a month? And 50 cent wants him to buckle down and get a job? What universe is he living in? That'll never happen.
But of course the problem started a lot sooner. 27 is a bad age to try to start giving a kid a work ethic.
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His fairly well developed his life view and character by 27 going to be hard for him to turn that around now for sure
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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.
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Sounds like your well on track to having a well rounded son! Well done and congratulations
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107 sats \ 1 reply \ @OT 12 Oct
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!
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Yes that’s a good idea that either way they take that and succeed or fail but they should learn along the way
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43 sats \ 1 reply \ @Garth 12 Oct
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.
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That is hard work good on you and him! Need more people doing hard things !
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35 sats \ 1 reply \ @flat24 12 Oct
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.
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Definitely and as parents they need to cut the cord so to speak. I’ve been working since I was 12 for cash until I was old enough to go officially on the books and I’ll have my kids working as soon as they can
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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.
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Yes as hard as it can be at times in the long run they will be better people for having you do that
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59 sats \ 1 reply \ @000w2 12 Oct
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.
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Definitely that would do it for sure!
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$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
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Exactly
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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.
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Yeah sounds like it. He is a product of his environment. I’d imagine he would only see his dad getting all this money but not seeing him do the work to get it
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Lead by example. Unless you are around P Ditty
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Not a very good example there
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Make it clear that you expect these kids to work for a living and build their own life.
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Hard for the kid to see that when 10k keeps falling in his account each month for nothing. But with our own kids definitely right
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12 sats \ 1 reply \ @ChrisS 12 Oct
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.
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That would solve it pretty quickly surely. Some tough love
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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 :)
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Trust this is where Africa is different from the rest of the world! Child support is wild here 😀
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So this would be normal in Africa or the other way around?
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Yeah, wild in what way?
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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.
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It’s hard hey you go more the way you didn’t have it and sometimes can go to far if we aren’t careful
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Yeah. I have noticed people usually either repeat what their parents did and others tend toward doing the opposite. I like to think I have been able to do a bit of both. But in certain areas I struggle to be balanced.
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