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A trust fund is a huge pile money that a wealthy person (a trustee) gives to some beneficiary under certain conditions. The money is dispersed gradually to the
by natnat 15y ago
A trust fund is a huge pile money that a wealthy person (a trustee) gives to some beneficiary under certain conditions. The money is dispersed gradually to the beneficiary (stereotypically a spoiled rich kid) so they don't spend it all at once, and to avoid estate taxes.
Basically, it's something that allows you to maximise leisure and minimise work.
- prodigal_erik 15y ago(Nitpick: a trustee administers the fund, the money was supplied by a settlor or testator.)
- cipherpunk 15y agoPeople really don't want this?
- zeemonkee 15y agoLots of people may want it, for 99% of us it's not an option and we have to work for a living.
- xiaoma 15y agoLots of people want it, but those who have it aren't generally happy. In recent years there's been a lot of psychological research about people's happiness set points. In general, people adjust to an increased income very quickly, even if no work is required to earn it (e.g. lottery winners). On the other hand, many people do find fulfillment through work. In that sense, trust fund beneficiaries may have a tougher road to follow. Another thing that can defeat happiness set points is continual goal setting and achievement, once again something that the idle rich don't need to do.