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Hello all. This forum has been a valuable asset and a wonderful outlet from the stress of work. The first post I did on here I got excellent advice about securing my own family's financial well being before helping out my family who may not make the soundest financial decisions. For that, I am grateful. However, I cannot change who I am overnight so I will need to continue to be talked out of acting upon my "messiah complex."
I want to help educate my family's next generation. My wife and I do not have children yet, but we are certainly going to employ techniques so they understand personal finances so I am not worried about our future children (aside from not making them spoiled brats).
I do want to educate my brother's children about these concepts. My only brother who is 5 years older than me has straightened out his life considerably, but there is little hope for him to have an epiphany and become financially saavy even if he considerably increases his income. The difference between "Rich Dad, Poor Dad" concepts will be applicable between my brother and me. We did not learn intelligent financial strategies from our parents. Therefore, I do not want my nieces to fall into the figurative quick sand financially that is ubiquitous throughout our immediate and extended family. I want to educate them (when they are old enough) about basic financial concepts and even consider doing an "uncle match" similar to what WCI does with the "daddy match" for his children. I am not sure how to tactfully do this without alienating my brother and sister-in-law. They are proud to the point that I am even hesitant to start a 529 for my nieces for their annual birthday gift.
My angst results from how my nephew has "turned out." He was born to my brother (age 17 at the time) and his mother (different than sister-in-law, age 14). He already was fighting an uphill battle. My brother was still dealing etc. when my nephew was young. My mom raised him until he was 8 then he bounced around with his mother and father-in-law (abusive, alcoholic). He seemed to be doing well until he started getting suspended and expelled for heinous actions in HS. I am not sure if he is even going to graduate. He's too far gone for me to help... he needs professional psychiatric help.
I have a lot of guilt and anger because I just sat idly while this happened. I know I couldn't do anything to prevent this because I was just an uncle (and only 12 when he was born). I just don't want to see others whom I love go down the wrong path in life. I see my nieces as a "do over" to be a better uncle. I do not want these things to happen to our next generation. But how can I help without overstepping my boundaries? As we previously hashed out in another thread, giving people money is the worst course of action, but how do I impart knowledge and wisdom to the next generation when I am not going to be the one raising them?
I want to help educate my family's next generation. My wife and I do not have children yet, but we are certainly going to employ techniques so they understand personal finances so I am not worried about our future children (aside from not making them spoiled brats).
I do want to educate my brother's children about these concepts. My only brother who is 5 years older than me has straightened out his life considerably, but there is little hope for him to have an epiphany and become financially saavy even if he considerably increases his income. The difference between "Rich Dad, Poor Dad" concepts will be applicable between my brother and me. We did not learn intelligent financial strategies from our parents. Therefore, I do not want my nieces to fall into the figurative quick sand financially that is ubiquitous throughout our immediate and extended family. I want to educate them (when they are old enough) about basic financial concepts and even consider doing an "uncle match" similar to what WCI does with the "daddy match" for his children. I am not sure how to tactfully do this without alienating my brother and sister-in-law. They are proud to the point that I am even hesitant to start a 529 for my nieces for their annual birthday gift.
My angst results from how my nephew has "turned out." He was born to my brother (age 17 at the time) and his mother (different than sister-in-law, age 14). He already was fighting an uphill battle. My brother was still dealing etc. when my nephew was young. My mom raised him until he was 8 then he bounced around with his mother and father-in-law (abusive, alcoholic). He seemed to be doing well until he started getting suspended and expelled for heinous actions in HS. I am not sure if he is even going to graduate. He's too far gone for me to help... he needs professional psychiatric help.
I have a lot of guilt and anger because I just sat idly while this happened. I know I couldn't do anything to prevent this because I was just an uncle (and only 12 when he was born). I just don't want to see others whom I love go down the wrong path in life. I see my nieces as a "do over" to be a better uncle. I do not want these things to happen to our next generation. But how can I help without overstepping my boundaries? As we previously hashed out in another thread, giving people money is the worst course of action, but how do I impart knowledge and wisdom to the next generation when I am not going to be the one raising them?
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