Why We're No Longer Leaving Too Much Money for Our Children to Inherit - Jason and Mary Njoku

One of the biggest and most popular power couples in Nigeria are without a doubt, The Njokus: Jason and Mary Njoku. Jason Njoku is the founder of IrokoTV and Mary Njoku is an actress and movie producer whose intellectual property is the bedrock upon which a lot of IrokoTV and ROK is built upon. The two have been blessed with three children, and after years of toiling, they have also been blessed with a lot of money.

Because of this, you might think then that Jason Njoku and Mary Njoku's children are going to be set for life because of their parent's wealth. Well, not exactly. Taking to Twitter, Jason Njoku opened up about the decision that he and his wife, Mary Njoku, have made as pertains their wealth and what they will be leaving for their children after they die. Here is what Jason Njoku revealed and what his thought process is.

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Taking to Twitter, Jason Njoku revealed saying:

Mrs Mary Njoku & I save to guarantee our kids a great education. After that our job is done & they can fend for themselves. We don't save for ourselves we spend to enjoy today. Young money is better than old money. It's way more fun. Trying to leave as little behind as possible.

From all I have read Inherited wealth is mostly a burden. We actually don't buy much stuff. We spend on family experiences. Experiences we hope to gist about when we're old and less mobile. In the end life is to be lived.

Further buttressing the point of inherited wealth being a burden, Jason Njoku liked this tweet that is a quote from the former CEO of General Electric. The tweet says:

“In all of our many discussions, the only time he spoke about his children was when he told me that he ‘loved them to pieces’ but that he had made ‘a mistake’ when he gave each of them a bunch of G.E. stock when he first became C.E.O.,” Cohan writes. Because the stock had performed well, they each had something like fifty million dollars in company shares. Although two of his four kids went to Harvard Business School and one went to Harvard’s Graduate School of Design, they all quit their jobs, disappointing their father. “They turned out differently than I’d hoped,” Welch tells Cohan. “We’re close. But they got too much money. . . . If I had to do it all over again, I wouldn’t have given it to them.” A father reflects, after a lifetime, on his troubled relationship with his children, and concludes that he should have adjusted their compensation.

Hmmm. This is a very interesting conversation Jason has started. What do you think about what Jason Njoku said and about what he and Mary Njoku are now doing. Let me know your thoughts by leaving a comment either below or on my Jide Okonjo Facebook post.

That's All.

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