I am 70 years old. My wife and I started from nothing and worked hard our whole lives. Besides a small house to live in, we saved enough to buy another home in Saigon. It was the result of a lifetime of hardship. I always planned for that house to become an inheritance for my three sons, a keepsake of their parents.
About five years ago, they asked for an early inheritance to start businesses, buy homes, and settle down. Their requests weighed on me. Friends and relatives advised me: “If your children need it, split your inheritance early. You are old, but remember to save a little for retirement.”
After thinking it over, I agreed. I sold the house for VND6.4 billion (US$240,000). I gave each of my sons VND2 billion (US$76,000) and kept VND400 million (US$15,000) for my and my wife’s care and medical needs. When I handed them the money, their eyes lit up. At that moment, I felt relieved and proud that my life’s work could finally help my children.
But the joy was short-lived. My eldest son, who loves to indulge, spent recklessly on shopping, travel, and entertainment. I warned him, and he promised to save and focus on work, but he quickly fell back into old habits. Within a few years, his money was gone.
My second son invested in a business venture at the suggestion of his friends. He was excited and reassured me at first: “Don’t worry, Dad. I will double or even triple this money.” But things did not go as planned. The project failed, his partners pulled out, and he was left with all the losses. He too ended up with nothing.
My youngest was more cautious and bought land, hoping it would increase in value. But the market crashed, and he could not sell. He borrowed more to cover payments and now has lost his capital, constantly stressed by huge debts.
In just five years, all three of my sons, who once had VND2 billion (US$76,000) each, ended up with nothing. Watching this unfold, I am filled with sorrow. The wealth I spent a lifetime building, meant to help them, has turned into a burden and a tragedy.
I can only blame myself. I should not have rushed to follow outsiders’ advice or given in to my children’s impatience. I forgot that money only has value when you know how to use it. Without maturity and understanding, even the largest sum can disappear.
I cannot say early inheritance is always wrong. For some families, it can help if children have clear plans and handle money responsibly. But for me, it was a mistake. I gave my lifelong wealth to children who were not ready.
Now, in my old age, all I have left is regret. I hope other parents think twice before giving an early inheritance: don’t focus only on how much to give, but also on who to give it to and when they are mature enough to handle it. Otherwise, a lifetime of savings can slip away, leaving an elderly parent like me with only sorrow.
I cannot say early inheritance is always wrong. For some families, it helps if children have clear plans and handle money with responsibility. But for me, it was a mistake. I gave my lifelong wealth to children who were not ready.
Now, in my old age, all I have left is regret. I hope other parents think twice before giving an early inheritance: don’t focus on just how much to give, but also who to give it to and when they are mature enough to handle it. Otherwise, a lifetime of savings can slip away, leaving an elderly parent like me with only sorrow.