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Reply to "When do you tell kids about family money?"
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[quote=Anonymous]From an early age we educated our kids about working hard, saving, living below their means and they listened! All three are late 30’s to 40 with HHI in the range of $600k to $1 million so they are doing great on their own. We are quite generous especially with 529 plans but we don’t indulge them. They know they will each inherit $10 million+ some day (it’s already in trusts outside our estate) but I’m glad that they are really determined to build their own net worth as we did. I think that their children and ultimately their grandchildren will be the real beneficiaries of our estate. FWIW, if they have a real need they can tap into the trusts now but they don’t need it and want to see it grow. [/quote]
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