Martin Chuzzlewit is a novel by Charles Dickens also available in mini series produced by the BBC which was recently viewed. Mr. Chuzzlewit is getting older, but not dead yet however he is part of the upper class or wealthy in England. The premise of the book is to examine how the relatives – immediate family, cousins, and the list goes on behaves when he appears to be on his last legs. Do they care for him or do they see the money they will inherit? It is an age old question and we know that in general, baby boomers did well and as they begin to retire many will inherit or will give money to family and whoever else they wish to. In the book, Mr. Chuzzlewit is not without fault and he finds himself selfish in his decision making process, he is after all human, but at least he finds out who the worst cases are.
Linking to dividend paying stocks, one of the good things about them is the wealth tends to increase over time, as the wealth increases it allows for financial freedom however you define it. Wealth also brings other concerns among them long lost relatives who wish a piece of the pie. There is no perfect answer, but it is better to have the problem than not to have it. Warren Buffett has said his children will be millionaires but not necessarily billionaires from his inheritance.
There are more questions than answers, till the next time – to raising questions.