Are you rich?
And if so, do you plan to make sure your kids are rich too?
In other words, before you "pop, pop, do you plan on plopping it all on junior's lap, pop?"
I ask because I've gotten an unusual amount of e-mails and texts in response to a column I wrote today on this very subject for our Fox Business website, which if you don't get, you really should log on to and try it's like two demand-its in one!
But enough about Fox Business. Back to this wealth transfer business because it's going to be big about 30 trillion bucks big!
That's how much we baby boomers will pass along over the next 30 years apparently it's the biggest wealth transfer in human history.
Or should I say in-human history. Because get this -- kids, you ain't getting squat.
Fend for your freakin' selves, because no freakin' way we're leaving it all to you.
The Washington Post reports it's the latest trend, the rich and not-so-rich leaving not so much to their kids in the end. Some of them, not so much as a cent!
Reporter Roxanne Roberts describes how Bill and Melinda Gates are leaving each of their three kids, 10 million bucks.
Are you kidding me? That's what Mister and Mrs. Softy make in a day in interest on a $76 billion fortune apparently going virtually all to charity and not to the kids!
Then there's the rocker Sting -- living true to his name telling his six adult kids, "pop goes their inheritance weasel!" because they ain't getting their grubby hands on pop's $300 million fortune either.
Sting says he's doing them a service Warren Buffett says the same thing.
Turns out the sage isn't a scrooge he's not leaving them completely high and dry, but he's not leaving them billions either.
What fascinates me is hearing all these rich folks insisting they've had the talk with their kids. But you can't tell me that talk had to be a heck of a lot tougher on those kids than that original talk.
That first one was about the birds and the bees.
This one's about money not growing on trees.
So I guess what these guys are telling their kids is this: "Don't get too used to staring at the same 100 walls. If you don't shape up, pretty soon you're gonna be climbing 'em."
"And pretty soon, you pathetic grey-poupon-pushing ingrates, will have to fend for yourselves!"
Which is what I've been telling my little leeches, I mean kids, when this very subject comes up.
"Your mom and I are spending it all," I remind them.
And just for good measure, as I stare their little crest-fallen faces I add, "And consider yourself lucky if we don't leave you with the bill for that last cruise we plan to take."
No ship.
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