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Reply to "When do you tell kids about family money?"
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[quote=Anonymous]I've told my kids from their early teens that we have a stock portfolio and that it's virtual money, but barring Act of God (and there could very well be one), one day some of it will be theirs. Right now there's 20M. They understand the basics of the market. They understand it can be wiped out in a second, or grow to 100M+ easily. They understand eldercare costs an arm and a leg. They understand there are other beneficiaries than just them. They are frugal people, since our disposable income is actually rather low, and have good financial judgment. No reason not to tell them. [/quote]
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