Reply to When do you tell kids about family money?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]People on this forum are such sore losers. This is a genuine question to me. I'm also interested in knowing how people approach this.[/quote]

We have money. What is there to approach?  This area is full of rich people, some who are showy about it and some who aren’t. The idea that if your kids know they’re rich that they are not gonna work hard is just stupid. Lots of rich kids who know they are rich still work hard. It’s called parenting. God this is a stupid thread.

I mean, in OP’s own case, for example, she grew up with money. Right? Her parents are rich. Why can’t she just do what her own parents did?

Also, as others have noted, it is really not a given at all that the kids are going to get as much money as OP thinks. Anything can happen. The fat lady has not sung yet. In my own estate planning, we have some people saying we will die with a couple million and we have other people saying we will die with 30 million. So what the hell? [/quote]

+1000

Our kids always knew we were doing well.  They didn't know how well until late HS/College when a transaction happened that took us to the next level.  Before that, it was obvious we had money but we didn't live anywhere close to the level of money we have.  
With that transaction, the kids now know more details about our networth, and what will be coming their way.  We raised them well, the are highly motivated to do well in life.  We are starting to gift them money now, as it makes the most difference now.  
However, they are frugal/fiscally sound.  They use it for savings and only spend a small portion.  The 25 yo has over $250K invested between retirement and regular investing.  They'd rather invest than spend on something silly. 
They also greatly appreciate they don't have student loans, and that we paid for a new car for them when they graduated.  They are saving for a downpayment and plan to do it "on their own".  However, we plan to gift them money for that when it's appropriate because it will be most helpful now

However, our kids know that if they don't have a job and ambitions, we are not supporting them.  Thankfully they are still highly motivated, despite knowing money will be coming.  I think that is the case with most kids.  If you raise them well, helping them will not dwindle their ambitions.

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