Family wealth is obvious to children. Your expectations surrounding how your children will handle the family’s wealth are not so obvious. So, it’s important to talk with your children about the family’s goals for this wealth in a way that will allow you both to think creatively about how best to steward that wealth into the future.
Money itself and the language of money is straightforward; it’s literal, it’s not rocket science. But talking about money can get complicated. When you add emotion and experience – good and bad – to the discussion of money, that’s when it can get complicated.
Here are five tips to help you start this money talk :