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Reply to "When do you tell kids about family money?"
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[quote=Anonymous][quote=Anonymous]Yes, it might be a humble brag but it is a good question. If you’re 21 and know at 30 you’re going to get $5 million it could depress any ambition you might have. I guarantee it would have depressed mine.[/quote] That why we don't let them get trust money until 37. I told my kids that my goal is to create happy, healthy, self sufficient adults. I stop at 'we'll pay for undergrad'. Truth is, well probably also pay for grad school, wedding, and downpayment on a home. They don't need to know this. I certainly don't want them to expect it. We picked 37 because their financial habits will be set and this is the time grandkids will be entering school and maybe they need a bigger home etc. Also, it would be clear at this point if the marriage was going to fail - even though I will encourage a prenump.[/quote]
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