If you were really rich how many kids would you have?

I mean self-made millionaire. Net worth over 30 mil. How many kids would you want and how would you educate them? Public or private school. Would you pay for everything until they reach the big 18 or want them to work during summer?

Let's hear it

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Comments (54)

May 17, 2022 - 3:39pm
GoodwinMog, what's your opinion? Comment below:

Two boys two girls. Put them through private school and then boarding school before college. At a million dollars a pop, they'd be paying for the majority of their spending.

Array
May 17, 2022 - 4:12pm
Sequoia, what's your opinion? Comment below:

3 kids. Think it's really hard from a bandwidth perspective to raise more than that successfully (others may disagree). But I'd love to leave each kid 10ml a piece when I pass on (inflation adjusted to whenever I die)

May 17, 2022 - 4:54pm
ResMan, what's your opinion? Comment below:

Parenting has less impact on the way kids turn out than most people think. It's one thing if you don't want a lot of kids, but if you actually want to have more, you should have them. Having fewer so that you can maximize your investment of time and money on one or two isn't likely to move the needle too much in the grand scheme of things.

May 19, 2022 - 7:17am
Arroz con Pollo, what's your opinion? Comment below:

ResMan

Parenting has less impact on the way kids turn out than most people think. It's one thing if you don't want a lot of kids, but if you actually want to have more, you should have them. Having fewer so that you can maximize your investment of time and money on one or two isn't likely to move the needle too much in the grand scheme of things.

I wholeheartedly disagree. I see direct ties in how parents act and how the kid acts. Culture of the family is a huge part as well (which is a large part of how parents act).

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May 19, 2022 - 10:32am
ResMan, what's your opinion? Comment below:

Yes, kids absolutely do turn out similar to their parents in a huge variety of ways. But the main reason for that is genetics, not upbringing.

There's a huge amount of data from behavioral genetics research that compares the outcomes of adopted versus biological children and identical versus fraternal twins. The data consistently show that impact of heredity is large: much larger than the average person realizes.

Once you become aware of this literature, you realize that the obsessive parenting style of the upper middle class-having few children and devoting huge amounts of time and money to raising them- isn't really necessary. And if you take a somewhat more laid-back approach, having another kid or two makes more sense.

May 17, 2022 - 5:04pm
Isaiah_53_5 πŸ’ŽπŸ™ŒπŸ’ŽπŸ™ŒπŸ’Ž, what's your opinion? Comment below:

With a net worth of 1 Billion+:

Would have 200 kids - would start a small colony. Initial kids would be from wife and would adopt the rest. This is over a span of 50 years roughly.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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May 17, 2022 - 5:34pm
Pierogi Equities, what's your opinion? Comment below:

might as well start a rich person religious cult. Oh wait...

Quant (ˈkwÀnt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

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May 17, 2022 - 5:58pm
Isaiah_53_5 πŸ’ŽπŸ™ŒπŸ’ŽπŸ™ŒπŸ’Ž, what's your opinion? Comment below:

It definitely would be Catholic.Β 

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

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May 17, 2022 - 6:11pm
SacrificingAdolescentYears, what's your opinion? Comment below:

This post reminded me of something I thought of a couple years ago. Imagine a super diverse line of family. It starts off with an Italian marrying a German and then they would have kids who marry an African and have kids and so on. It would create the most diverse human beings on the planet and in my opinion have the best genetics because it would pull from all the different ethnicities. If you tack on only marrying wealthy people then it gets even better. Feel free to elaborate on the idea haha.

May 17, 2022 - 6:18pm
Pierogi Equities, what's your opinion? Comment below:
SacrificingAdolescentYears

Imagine a super diverse line of family. It starts off with an Italian marrying a German and then they would have kids who marry an African and have kids and so on.

so basically modern America

Quant (ˈkwÀnt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

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May 17, 2022 - 7:55pm
CompBanker, what's your opinion? Comment below:

Zero!

Mentorship with CompBanker: https://www.RossettiAdvisors.com

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May 17, 2022 - 8:09pm
BobTheBaker, what's your opinion? Comment below:
CompBanker

Zero!

Savage

Array

May 18, 2022 - 11:37pm
Isaiah_53_5 πŸ’ŽπŸ™ŒπŸ’ŽπŸ™ŒπŸ’Ž, what's your opinion? Comment below:
CompBanker

Zero!

Did you get a vasectomy?

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

May 19, 2022 - 4:58am
CompBanker, what's your opinion? Comment below:

Nope

Mentorship with CompBanker: https://www.RossettiAdvisors.com

May 17, 2022 - 8:09pm
BobTheBaker, what's your opinion? Comment below:

Probably 5 or so. Plan right now is 2.

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May 18, 2022 - 10:46am
BobTheBaker, what's your opinion? Comment below:
billy_boy79

In your case it would probably be best if you didn't reproduceΒ 

Do I know you?

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May 20, 2022 - 12:25pm
Pierogi Equities, what's your opinion? Comment below:

2 is great, personally my plan would be for 3. Not sure about your background, but as an only child, it can at times get lonely and sometimes is really hard to burden some things. 2 can create a great bond between them, but I feel like 3 is great (especially when differing ages) because they can also all learn from each other in different stages, learn how to interact with other people with varied interests, and learn some family and human responsibilities.

Quant (ˈkwÀnt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

  • 1
May 19, 2022 - 12:42pm
Username_TBU, what's your opinion? Comment below:

Eh, not really true. Being able to pay people to take care of every tertiary detail frees up a lot of time. A home manager, cleaning people, chef, etc.

May 18, 2022 - 9:25am
C.R.E. Shervin, what's your opinion? Comment below:

2-4 Kids

School: - Really depends on the child(some thrive in big schools, some drown). Ideally, private/religious school.

Finances - Pay for base expenses within reason, the kids shouldn't get everything they want.

High School - The kid will be doing many activites. Not a sports kid, then computer coding lessons, or music lesson. The more activities the less trouble they can get in.

Houses - 3500-5000 SF house, nothing super ostentatious. Your kids can "hide" in a big house, you want as much time together as possible.

Family - Dinner together.

The pleasures in life are simple things. You want kids to be happy with who they are, not what they have.

May 18, 2022 - 11:38am
BrohanSantana, what's your opinion? Comment below:

3 kids (which would be the plan regardless). The high school education component would really depend on the quality of public schools in the area, but it's likely that I would send them to private school. I would absolutely make them have summer jobs and participate in some form of activity. The activity can be whatever is of strong interest to them, but I want them to invest time in it and develop some sort of skill. I'd also likely push them to learn a language or play an instrument (two things I wish I had done). The job item is important to me because I believe it is easy for rich kids to become entitled, so this teaches early on the value of working and saving for items that you want. Additionally, I think it's a great motivator to do something else in life - working construction for a few summers made me absolutely not want to do that forever.

Most Helpful
May 18, 2022 - 11:58am
Maximum Leverage, what's your opinion? Comment below:

How many? As many as it takes until I get one boy and one girl - I feel like the experience of raising a son compared to the experience of raising a daughter will be drastically different, and I want to be able to experience both.

Education? Personally, feel free to disagree; I feel like a private Christian school is ideal to start. It will start them off with good values, and they will be taught a slight guilt of not wanting to do bad upon others. Once they reach high school, I'd send them to a well-placing public school. I think them getting exposure to students from both rich and poor backgrounds will be tremendous for them.

Would I make them work? 100%. During the school year they should be focused on getting good grades, developing an identity through extracurriculars (fingers crossed they like basketball), and developing friendships. During the summer, I don't think it's a lot to ask to have them working a part-time job. Everyone makes mistakes in their first role and I'd rather them mess up at a retail job than during their first SA stint at a BB (fingers crossed they don't pick finance but you never know).Β 

There is more than one way to get there. I'd rather have 30 chapters than 3000 pages.

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May 18, 2022 - 12:33pm
Cedar on Mid, what's your opinion? Comment below:

As many as possible.

I was homeschooled up untill I graduated high school. I was also the oldest of 15 children. My entire life up to around the age of 18 was caring for children (my siblings, many of whom have special needs) and school. It would be a shame to let all that practical experience raising an army of children go to waste

May 18, 2022 - 7:46pm
IncomingIBDreject, what's your opinion? Comment below:

0.

Think about it. You have all the money you could ask for, and you're just going to tie yourself down to some boring suburb for the rest of your life doing menial tasks (changing diapers, preparing baby food, etc.)? Kids serve as time kill for those who have to work and be tied down to one place. There's a reason why you see more kids in rural areas than cities (less things to do). If you're rich you can travel everywhere and do whatever you want, whenever you want. Why take the typical path?

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May 18, 2022 - 10:44pm
Kevin25, what's your opinion? Comment below:

just hire full-time babysitters for them, and you can do whatever you want. you can even have a separate house for kids and babysitters, and come over there when you wanna play with kids.

May 19, 2022 - 9:10am
IncomingIBDreject, what's your opinion? Comment below:

I mean sure you could do that but the kid isn't going to have a great development if you treat them as an accessory. How do you think they would feel if they found out you were at a party in a yacht hanging out with supermodels instead of being at their birthday party?Β 
My family had a dog at one point, and even that dog required more attention than the arrangement you're describing. Not in a mean or rude way - the dog genuinely enjoyed to be around us and wasn't a pain. I would imagine a kid requires much more attention than a dog would.

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May 19, 2022 - 7:25am
Arroz con Pollo, what's your opinion? Comment below:

IncomingIBDreject

0.

Think about it. You have all the money you could ask for, and you're just going to tie yourself down to some boring suburb for the rest of your life doing menial tasks (changing diapers, preparing baby food, etc.)? Kids serve as time kill for those who have to work and be tied down to one place. There's a reason why you see more kids in rural areas than cities (less things to do). If you're rich you can travel everywhere and do whatever you want, whenever you want. Why take the typical path?

Calling the acts required to raise a child a "menial tasks" shows your immaturity

May 19, 2022 - 9:20am
IncomingIBDreject, what's your opinion? Comment below:

From an intellectually rigorous/complexity standpoint they are absolutely menial. And they are mind numbingly repetitive. Now if you don't have anything to do (rural areas + suburban areas) it's probably worth it because those tasks are part of a larger project (your child) and gives some focus and passes the time. If you have a ton of money and can live wherever you want and do whatever you want I don't think it's worth it.

Aside from the above a lot of people have kids just because that's just the next logical step in life (after marriage) and everyone does it. I am much more of the mindset that only those who find the benefits to outweigh the substantial costs should have kids.

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May 19, 2022 - 3:09am
luketr, what's your opinion? Comment below:

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Corrupti numquam ipsum illo ducimus id. Vitae quo rerum doloremque quaerat dolores nihil. Velit quisquam est qui ut. Laborum iusto quis fuga ratione. Facere id voluptatem rerum necessitatibus quos iusto.

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