A High Net Worth Couple Asks Dave Ramsey If Their Kids' Inheritance Is Too Big: 'A Godly Man Leaves An Inheritance To His Children's Children'

Dave Ramsey has built a financial empire and has clear rules of how he intends to pass the money on to his children. That's why it made sense when a husband called into "The Ramsey Show" to discuss the inheritance he's accumulating for his four daughters.The husband calculates that by the time he and his wife retire, they will have a nest egg that ranges from $8 million to $12 million. Ramsey congratulated the couple, but the call shifted into determining how much money to give to the children.Don't Miss:Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – with $1,000 you can invest at just $0.26/share!The average American couple has saved this much money for retirement — How do you compare?The caller was looking for biblical guidance and doesn't want to spoil his children when it's time to give them the money. Although there is a misconception that the Bible teaches that money is evil, Ramsey nipped it in the bud."A Godly man leaves an inheritance to his children's children," Ramsey said during the call. That's not just his personal opinion, either. It's deeply rooted in the Bible.Prepare Your Children For The ResponsibilityRamsey starts his suggestions by saying that the couple can teach the children how to manage the inheritance while the couple is still alive. The daughters range from seven to 13 years old, so there is still plenty of time to instill good money habits. Ramsey said that you aren't required to give them an inheritance, but he also said to the husband that an inheritance isn't going to damage them. The husband seems to have believed that previously, and Ramsey continued to break this myth."Wealth magnifies the character of the person," Ramsey explained. Someone who has a good character will be able to manage the money more effectively. However, bad people end up becoming even worse once they have money.Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. See which asset class has outpaced the S&P 500 (1995-2024) – and with near-zero correlation.Ramsey goes on to mention that he told his children that they were not entitled to anything. Instead, they had to have a spiritual understanding of the wealth to be qualified to manage it. Ramsey views wealth as something that you do not own. You get to manage money, but God owns it. Wealth is heavy to carry and comes with a lot of responsibility. Ramsey told the couple to teach their children now so they will be ready to handle that responsibility when the time arrives.Make Sure They Are QualifiedRamsey also said that the couple should cut any child out of the will who isn't qualified to manage the money. He said he would have done that with his own children if they weren't qualified to manage the money.Since Ramsey views an inheritance as managing God's money, he wants to make sure his children follow the lessons in the Bible. Faith and spirituality are core components of how Ramsey approaches finances, and he wants his children to embrace that as well. All of his children have gone on to become adults who manage their finances responsibly.See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — invest pre-IPO from $0.60 per share now.The Temple Of God Was Built With An InheritanceThe underlying context of the call is that the husband wanted to make sure it was biblically acceptable to give his daughters a large inheritance once the couple passed away.That's why the call included biblical references, including dispelling the myth that the Bible says that money is the root of all evil.Ramsey breaks this common concern by reminding people that Solomon used the inheritance he received from David to build the First Temple in Jerusalem. Ramsey estimates that the temple cost $10 billion to $20 billion in current money to build."God uses families that have character generationally to manage His goods," Ramsey said when bringing up Solomon and David.Read Next:Maker of a life-changing asthma device with 12,000+ patients waiting, FDA clearance, and a 67% drop in attacks — now taking final investors at just $1.52 per share.Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!Image: Shutterstock