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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
* * *
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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