Such an interesting subject, one I've wrestled with. Two observations:
You can clearly see the wrong thing to do with children and money but it is very hard to see the right thing.
And children know how wealthy their parents are (some parents deceive themselves that they can disguise their wealth)so communication and transparency give you a chance to be more right than wrong.
So true! Especially hard to know what's right when your kids don't have a clear affinity for a profession (that was me, by the way, an English major). I've known some parents in that position who created wealth by starting their own businesses. The natural impulse in that situation is to give your direction-less kid some direction by having them work for you. It doesn't always go well LOL.
Imagine a world in which generational wealth didn’t exist. Imagine also a world in which all young people had “enough” — they had good food, healthcare, decent lodging and as much education as they wanted/needed to live the lives they wanted to live.
I scrounged for food in college to a degree I myself can barely believe now. It didn’t grow my character — it just filled me with anxiety. I don’t know why anyone thinks poverty is good for you. It’s terrible.
Such an interesting subject, one I've wrestled with. Two observations:
You can clearly see the wrong thing to do with children and money but it is very hard to see the right thing.
And children know how wealthy their parents are (some parents deceive themselves that they can disguise their wealth)so communication and transparency give you a chance to be more right than wrong.
So true! Especially hard to know what's right when your kids don't have a clear affinity for a profession (that was me, by the way, an English major). I've known some parents in that position who created wealth by starting their own businesses. The natural impulse in that situation is to give your direction-less kid some direction by having them work for you. It doesn't always go well LOL.
Imagine a world in which generational wealth didn’t exist. Imagine also a world in which all young people had “enough” — they had good food, healthcare, decent lodging and as much education as they wanted/needed to live the lives they wanted to live.
I scrounged for food in college to a degree I myself can barely believe now. It didn’t grow my character — it just filled me with anxiety. I don’t know why anyone thinks poverty is good for you. It’s terrible.