Reply to Generational wealth. What's behind the obsession?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’ve paid for college, grad school and house down payments for my kids. And funded 529 plans for grandkids. However, there’s a line between being generous and overdoing it and taking away ambition. I don’t ever discuss my income or NW with my kids. Someday it’ll be a necessary conversation but until then I want everyone fully motivated. [/quote]

IMO you have raised your kids incorrectly if by age 20 you are not fully discussing NW with them. If them knowing you are worth something makes the kid unmotivated there is a lot more at play[/quote]

How many millions are you worth? 20 is pretty young to just reveal it all, especially if you're not a very spend heavy family. [/quote]

+1. From a wealthy family but my parents never discuss money and even though my dad was a biglaw partner I was clueless what that meant and didn’t realize until I turned on the family computer when I was 17 and there was his tax return. I called my older sister in shock! [/quote]

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