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Tweens and Teens
Reply to "Affluent parents -how do you handle money and your kids?"
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[quote=Anonymous]I agree that keeping kids in the dark is a disservice. But it is also a lost opportunity to teach them a life skill. We not only don't hide it, but include our DS11 in household investment decisions. We want him to know what is in his trust and in our household vestment accounts so that he knows how to manage it when the reins get turned over. For example, we included him in our recent discussion about whether to sell a house and redeploy the assets into stock investments. As a family, we kicked around the pros and cons and made the final decision to do it. He doesn't get an allowance - we tried it, but he just hoarded the cash. Instead, he has a small portfolio to manage independently (but with input, of course, if he wants).[/quote]
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