Independent
Means

 

March
High Net Worth Kids


They drive SUVs, have trust funds that assure financial comfort for life, money in the bank for college and credit cards they can use any and everywhere. Such lucky kids... or are they?

We don't have to exaggerate the dilemmas of early wealth for kids with horror stories of depression, suicide rates, easy drugs, or early sex - Indeed these are equal opportunity problems for kids today.

But kids who have little incentive to develop good money habits are also less likely to shepherd wealth; more likely to squander it, and less likely to develop true developmental independence.

Busy parents often say that it's easier to "feed the tiger than tame it." That may be true, but the efforts of parents who work to instill sound financial habits in their kids do have a pay-off - for both community and for the kid...

For the complete article on "High Net-Worth Kids," email jgodfrey@independentmeans.com

© 2010, Independent Means

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Some people think they are worth a lot of money just because they have it. - Fannie Hurst

Independent Means, Inc. sets the standard for innovative resources for Raising Financially Fit Kids. Your kids are developing views on money through your actions! This month, make a note to talk about hidden costs - the price of that trip or the car or club membership that DOESN'T show up on the price tag. Source: www.independentmeans.com

 



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