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

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[quote=Anonymous][quote=Anonymous]We are what I would classify as rich. My kids are still young but getting older (oldest starting high school soon).

We’ve tried to keep them grounded but [b]our wealth is too high to keep hidden entirely[/b].

The oldest is starting to understand money much better and is asking age appropriate questions that I would be comfortable answering if our lives were more mainstream but I hesitate to answer since we are not.

They all know that we earn our capital through different investment classes but recently she has been asking how much we earn. I used to say a lot. Recently she has been pushing for more specifics. If we made $500K I’d be fine saying several hundred thousand and leaving it at that but we earn many millions per year. I’ve explained how alienating money can make people and told her that we were on the top 1% but that giving her the exact figure makes me feel uncomfortable.

She has been talking to me a bit more about it since she rightly says that she cannot talk to anyone else about it and doesn’t want to but she has been asking questions like top 1% or top .1%?

How much detail does one provide a high schooler who in all apparent ways is asking thoughtful and appropriate questions?  I don’t want it to be a secret but I also don’t want to burden her with something that she cannot talking to anyone about. [/quote]

Help me understand the bolded part. Why is it impossible to hide it? People we know have absolutely no idea how wealthy we are. None. Now that my kids have finished high school and a we allowed a building to be named for us, it is now coming out. But it was hidden all through their childhoods. [/quote]

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