Having to much is a big problem to children
“My own instinct is that it’s much harder than anybody believes to bring up kids in a wealthy environment. People are ruined by challenged economic lives. But they’re ruined by wealth as well because they lose their ambition and they lose their pride and they lose their sense of self-worth… there’s probably some place in the middle which works best of all.”
From Malcolm Gladwell , David & Goliath
In the book Gladwell cites a Hollywood millionaire problems rising his kids. He claims that parenting with no money is extremely difficult but with lot's of money is also challenging Your kids are spoiled and used to only the best, have never experienced rejection & difficulties They are not prepared for life !
That is the reason Wealth contains the seed of it's own destruction.
Normally Shirtsleeves to shirtsleeves in three generations is the norm. To prevent this i guess you should not give everything to your kids they have to fight for something. You have to say no
How?
when they ask for something you should never say that you can't afford it but that you can but you won't. This is key for them to figure out that the money is difficult to earn and that it should be difficult to spend to.
About this is important to not confuse necessity with desire.
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