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Each generation faces this lesson: money can't buy happiness.
The happiest memories I have from childhood don't involve gifts or accessories: they're about the time I got to spend with my parents. The trips with my dad to the hardware store and spice/coffee-roaster's shop and time spend raking leaves together. Him reading me a well-worn copy of "The Wind and the Willows", which I still have. My mom teach me how to knit and make French toast. My dad's been gone for 16 years now, and on many a cold winter's day, I am kept warm not by an outrageously expensive coat or $$$ throw but by those memories.
I can only hope today's children of the "rich, older" parents can some day look back on such priceless gifts.