As a parent, you always want your children to lead a great life and thus you start that process by the time he/she is born. As a parent, you are more than happy to buy something for your child than yourself. And it is the case everywhere, the parent earns money tries to bring happiness in their children's life and thus continue earning to create a fortune for their children.
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Some people in India buy land with their hard-earned money so they can give it to their children for their future. Now the question is whether you will do it for your children. As inflation is rising like anything, most of the money has been spent on expenses, and savings are becoming scarce. Now you have to earn money and use it for expenses, save it for your child's higher studies and save it for your retirement.
Thus there is no money left for saving it for the children. I am taking into consideration that you want to retire early too. Because when you want to retire early, the money saved will be used till your retirement years. Saving a fortune for your children might not happen. Yeah if you have some extra money, then saving for your children and giving them after 20-30 years can make sense, but again that is not a fortune which your children can rely on.
This is a problem of the middle class where they want to enjoy and save, and that can fulfil their present or some future needs. But creating a fortune will not happen until and unless you do some extra things. Creating a passive income stream which can increase bit ab bit and in 20-30 years can become so big that you don't need your retirement money and thus can use this passive income only.
So if you have to create a fortune and keep it for your children, you have to do something different and come out of that middle-class trap.
