Salaam

I was shown a Hadith where the Prophet (PBUH) shook a son that was being disrespectful to his father that everything he owns belongs to him. Is that the same for all people or in that situation?

My father showed me this because he wanted to have some of my money to save it for use in later years. He said I had the choice to do so and I said no. Although I had the choice was it a sin to decline his offer?

Jazzakallahu Khair.