Ron Lieber, of the New York Times, writes about the tendency of affluent parents to not discuss money with their children. His article begins as follows:
We want our kids to come to us with anything and everything. We try to be as honest as we can about sex and drugs. We encourage them to talk about their feelings.But when it comes to money, we often clam up, and parents with the most money appear to be especially disinclined to talk about the topic.Just 17 percent of affluent parents said they have or will share their income or net worth with their children by the time they are 18. Another 18 percent said they never would. As in, ever.
Read full article at: Why Affluent Parents Clam Up About Their Incomes – NYTimes.com
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.