Tonight, I had dinner with an old friend who earns 5 million a year, and her son is now 4 years old.

We discussed a topic:
How does an ordinary family support the next generation?
She said three sentences, and I remembered them.
First,
Wherever the child goes to college, try to prepare a place for him there.
It doesn't have to be big, nor does it have to be a luxury house.
A core location, 10㎡ or 20㎡ is enough.
Once a person solves the most basic housing problem, their mind becomes settled.
Fresh graduates don’t have to be chased by rent, don’t need to move frequently, and the money they earn can be saved, allowing them to try opportunities that require time to build.
She worked in sales when she was young, in an industry with huge dividends, and could earn several million in a good year.
But because she couldn’t afford the rent near her workplace, she had to give up, and looking back, she still feels regretful.
Second,
Before the child truly establishes themselves, don’t rush to have them repay the family.
If conditions permit, the years in college and just after starting work should be supported more.
Not to let them indulge, but to help them build a circle, expand their knowledge, and increase their experience.
Many opportunities are not due to a lack of ability, but because they simply don’t have the ticket to enter that circle.
Having some savings in youth makes doing things much more relaxed.
Third,
Never underestimate your child.
Even if parents earn a lot and have extensive experience, they must accept a reality:
The next generation’s access to information, industries, and opportunities is very likely to be completely different from the previous generation.
Don’t always think about educating or correcting them.
Some truths can’t be learned without personal experience; hearing it a hundred times from others won’t help.
When they truly encounter problems or fall down, communicating then is often much more effective than constant lecturing.
The biggest conflict in many families isn’t lack of money.
It’s that parents always think they know more, while children feel parents don’t understand the times.
In the end, neither side can persuade the other, and the distance only grows.
The best thing she said was:
True support isn’t about arranging everything for the child, but about giving them the confidence to try and fail when they need to.
A house is confidence,
Cash flow is confidence,
Trust is also confidence.
Many families’ most valuable wealth left to their children isn’t necessarily a large sum of money,
But allowing them, during the most critical ten years of life,
not to have to give up their opportunities early just to survive.