Raising children is a white-knuckle roller coaster ride, and it sure isn’t easy. You can probably fill in the blanks with your own stories about how hard it is, and the particular challenges in our modern age. But still, those kids grow up, and most of them become (mostly) functional adults!Read More
Teach them this: Wealth is what you save, not what you spend.
Most of the younger generation is under the false impression that wealth is based on the luck of a big salary. Nothing could be further from the truth. According to the now-classic book The Millionaire Next Door by Thomas J. Stanley, the affluent tend to answer ‘yes’ to these three questions:Read More
I should probably start this right off by saying that I’m not claiming to be a particular expert in these matters. However, I do watch what other people do well … and I’ve had many conversations with wise clients who have shared a thing or two over the years. I have clients with great material means, who have children that remain “unspoiled”, and who don’t carry an expectant spirit.Read More
While it is impossible to completely shield kids from all the hard things that go on around them, I happen to believe money worries are one of those things we shouldn’t share with kids.
Whether you have many digits in your bank accounts, or you are still scraping by, money can (obviously) form a subject of dysfunction and tension, if we allow it.
So there are a number of ways to help our children move past this — some very specific, and some more subtle.Read More