In my work with enterprising families I spend a lot of time with parents who are concerned about how their financial success will affect their children. Almost universally there is concern about children being negatively affected, becoming spoiled, unmotivated, feeling an unhealthy sense of entitlement to the wealth their parents (or family members even before parents) have created without having to earn it.
There is a lot these parents can do to have a powerful, positive impact – starting when children are quite young.
The Purposeful Planning Institute is a great organization I’ve become involved with in the last year and its members are professionals from diverse disciplines looking to help clients prepare their families for wealth, and all that comes with it, with a greater sense of purpose. They invited me to present on one of their weekly conference calls just a couple of weeks ago and I spoke about “Raising a One Year-Old Millionaire”.