Journalist Geoff Williams spoke with a entrepreneurs, psychologists, wealth managers–and me–last week about when (and how) parents should stop giving their children money.
His logic in wanting to speak with me was straightforward: Old Money families obviously know something about how to handle this issue, or there wouldn’t be any money left.
He had some great questions, and I had some suitable answers. The result is Geoff’s well-written and well-researched article that I am happy to have made a small contribution to. You can find it HERE.
I’d love to hear your comments about this important subject, both the philosophy of it and your experiences with it as a child and a parent.
As a child…What worked? What didn’t? Were you given chores? An allowance? A trust fund?
As a parent…What worked? What didn’t? Did you require chores? Do you give an allowance? Did you establish a trust fund?
This is one of the key issues parents and children deal with in life. I’d like to hear as many opinions as possible.
So enjoy the article, and feel free to share.