Reply to When do you tell kids about family money?

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Reply to "When do you tell kids about family money?"

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[quote=Anonymous][quote=Anonymous]I hate posts like this.  The OP is humblebragging plain and simple.  It doesn’t matter how they live - their kids aren’t idiots.  [b]They know their parents and grandparents have money and that they stand to inherit it.  There’s no way they don’t. [/b]

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Not necessarily. I grew up solidly middle class but have done well as an adult - to tune of having $10mm at 46.

We still live in the house we bought in 2013. Have 2 Chevrolets in the garage. We fly premium economy on United.

My children have no idea how much money we have.

The the OP - I’d suggest not direct giving until they are married with children of their own. You can help with school, help with down payment, first car, etc, but don’t give them money until they are more established. The risk is all your money ends up their nose if they are given a lot of money too soon.

If someone gave me $2mm when I was 25, it would have been a disaster. If someone gave me $2mm now, it would become part of my portfolio.

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