Melinda Zeman, founder of Boochier jewellery, goes head-to-head with Alex Jiaravanont, vice president of Thailand’s CP Group, in this month’s great debate
Should parents have a moral obligation to leave an inheritance for their children?
Melinda Zeman: YES
“Yes, but not strictly a financial inheritance. This is a good opportunity for me, as a mother of four, to reflect on where I stand and why. I find myself asking: what does ‘inheritance’ mean, and is the inheritance we leave for our children strictly confined to assets and money in the bank—or can it be something more? What about moral inheritance— the values and beliefs we work hard to instil in our children from the moment they are born? That goes beyond what money can buy. Where does that fit into the equation?
While I can’t say what exactly I plan on leaving my children, I know that I aspire to leave enough for them to have the privilege to pursue what they love and what gives them purpose, without financial burden—but not enough to allow them to cruise through life directionless.
It is a privilege to be able to do what you love and build a life around it. As a parent, this is the gift I would want to give my children. Money doesn’t buy happiness, but it does buy options, which is probably one of the greatest luxuries of all. I hope that they have the wisdom to choose wisely.
Finally, I want my kids to inherit their family history and stories. I want them to be aware of their roots and give them the ability to form mental connections with those who paved the way for them to lead the lives that they live. And the final and most important piece to the puzzle: I would like for them to inherit the value of gratitude, the essential key to happiness.”
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Alex Jiaravanont: NO
“Inheritance is nice, but I worry it might dull my son’s drive to succeed if he expects magic money at the end of the rainbow. A recent encounter with a long-lost friend showed me another option. My friend grew up like any Hong Kong rich kid. But, when he started college, his father gave him one year’s worth of allowance and told him to spend it wisely—because he would now be off the bankroll—and then shoved him out of the nest. Fly or die. He flew.
My friend figured out a way to manage and invested that money, flourishing both financially and personally. His inspiring story makes me think about how I will teach my son. Financial competency is important because society judges a [person] by the tangible value they create. I want my son to gain fulfilment by knowing he is capable. The journey and even the possible failures will strengthen him. Fingers crossed. Ask me again ten years from now.”