18 Trillion Financial Gifts I Hope to Give the Children of Others

July 15, 2015
5 Financial Gifts I Hope to Give My Children

There are so many little nuggets of wisdom I've learned through the years of writing about personal finance I want to pass onto my children. And with solid finances myself, I could confidently tell them that these tips aren't just theory but work wonderfully well in practice.

There are so many little dollars of federal government debt that we've accumulated through the years that I want to pass onto your children. I'd give it to my children but, since I don't have any, I have no choice but to gift it to yours, your childrens' children, and so on.

And with weak finances as a country, I could confidently tell them that this debt isn't just theory but will work wonderfully well in practice... at slowing future growth and being a general drag on their standard of living.

Please tell your children that I am truly sorry that it has come to this. I have spent my life trying to avoid taking on debt that I could or would not pay. The government has given me no choice though. It's as if we're a country that spends beyond our means and our government is merely a reflection of that.

Every nation gets the government it deserves. - Joseph de Maistre

Psst... Your personal finances are only as "solid" as their weakest link. I see 18 trillion weak links in federal debt and a great deal more if one factors in what decades of accumulated trade deficits have done. But hey, if you are lucky, maybe that can be your childrens' problem. Probably best not to talk to them about it though. Ignorance is bliss.