Reply to How to have truthful age appropriate kid conversations about wealth

Forum Index » Money and Finances

Reply to "How to have truthful age appropriate kid conversations about wealth"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I think you need to understand yourself enough to not be embarrassed by the money you make. If you are truly embarrassed figure out why and deal with that.

But I love when my teenagers ask me questions like this because it gives me an opportunity to shape their lifelong thinking on an issue. You are likely passing on your embarrassment without explanation if you aren’t answering. But you have an opportunity here to answer with “we make substantially more than the overwhelming majority of people. The specific details aren’t important. But our money is invested and we live off the returns and even the returns on our investments are substantially more than most people make in salary.

Explain how you got the money (inheritance or other?) and your values around it. (Do you value maintaining it for the next generation or sharing with others or something else).

Talk about how money details is private family info.

Talk about what how the money will or will not be shared with them and your expectations of how they will handle that (do you want them to work, etc).

Use this as an opportunity to teach your teen your expectations and values. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics