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Reply to "When do you tell kids about family money?"
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[quote=Anonymous]I would teach my kids about no free money even though you know there will be free money. I would also teach my kids about responsible spending as they start making money while in college. Teach them some investment techniques, trusts, life insurance and many more things. Expose them to reading about managing and investing. And when they do get the money, they don't go spending it frivolously. Also, teach them to find friends and partners that are not all about money, especially the spouse because there will be major friction if the spouse knows you will be getting that much in inheritance. And I would not tell my kids they will get that much. I would not even mention the amount. If they ask, I would just say you may be getting something but I don't know how much. [/quote]
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