Raising Balanced Children: Resources for Parents and Grandparents
Family wealth is a mixed blessing – parents and grandparents with significant means often have concerns about the impact their wealth will have on their children and grandchildren. On the one hand, wealth opens up a world of opportunities for children: exposure to travel and culture, access to the best education, and broad freedom to pursue career aspirations. It also introduces some significant challenges: the responsibility of managing complex wealth, potential vulnerability or impact to personal relationships, separation, or isolation. Recognizing these issues, parents often struggle with determining when to talk with children about family finances, what information to share, and how family wealth can be used to provide children with the best resources and opportunities without creating passive expectations that discourage financial independence.
While this is something we regularly work on with clients directly, we have created this sourcebook to provide recommended resources to highlight different perspectives, tools, and options focused on financial learning.
Whether your children are 5 or 25 years old, and regardless of whether you are a parent or grandparent, we hope this sourcebook will serve as a helpful guide.