To provide some background, my father is quite comfortable financially. He's made wise investments over the years such that he has never had to worry about money. My mother was not a fool in that regard either, but she died several years ago. Keep in mind he is not what most would consider "rich", but comfortable would certainly be an accurate description. I can safely say that my retirement will not be a problem.

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Years ago when I was married, my father created a trust to ensure his assets were passed and preserved efficiently and privately. My father has always been wise when it came to finances, and wanted to ensure that when he and my mother passed, the assets I would inherit would be mine, and not end up misused by any woman I was with. In order to ensure that, he set up his will so I would only inherit a portion of the assets over a period of time. By doing so, it would better enable me to have something left by the time I reached retirement.

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I felt that was a wise choice, and it is something that parents should consider for their own children, particularly if said children are married. I know from personal experience that every woman I was involved with all but salivated when they realized my family had money. Being an only child, I stood to inherit everything. That being stated, their salivation quickly diminished when they realized they wouldn't be able to get their hands on said funds all at once.

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As I'm now 45, have no intention of getting involved with women, and have become my father's caregiver, that has since changed and I'm now a co-trustee. My father has dementia, and though cogent, has problems with managing finances to a degree. He knows me to be good with money, so I provide assistance when needed. My father has always followed my life, and made choices regarding the distribution of his assets accordingly. I personally feel that was a very wise choice to ensure a better future for me, and recommend it to others who have both a comfortable financial situation, and children.

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Personally, I do not have any children, so that is not a consideration for me. However, I do think my father's choices have been very prudent, and offer them as a suggestion. Regardless of being involved with women or not, I wasn't always good with money, when I was younger some of my spending habits were not what I would now consider wise. Needless to say, I'm far more frugal now, and live very modestly. My father even teases me that I should "live it up a little", as he likes to go out once a week for lunch, something I feel is a needless expenditure. Nonetheless, I always take him out, as it is something he enjoys, and it is great to see him smile.