Reply to When do you tell kids about family money?

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[quote=Anonymous]Never. We are in a similar situation, though I don’t know exact dollar figures on inheritances (but I can easily see what my parents properties are worth, and I’m an only child). I don’t tell my kids about it. I want my kids to learn and continue to develop a strong work ethic (as it sounds like OPs kids have), and plus, nothing in life is guaranteed. Your parents may need more than expected for elder care, or any other number of things may come up. They may live to 110, and you may not see those funds for 30 or 40 years. Whatever the case, I think it’s important for my children to learn to provide for themselves, and eventually their families. Let’s face it, $2M is a nice bonus but it’s not like they’ll be set for life. On the flip side, my late uncle always talked up to his kids how much money they would get. Their attitude, as a result, was to not worry about money in the least. They have always spent beyond their means and now that they have received said inheritance, the money is rapidly being spent/dissapearing. It’s really sad. [/quote]

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