3 Ways to Instill Enduring Financial Values in Your Children
by Grant Rawdin, J.D., CFP®, Founder and CEO, Wescott Financial Advisory Group LLC
Dec 10, 2018
3 minutes
Passing down values related to family wealth is one of the most crucial, yet challenging, tasks for parents today. Children's experiences with money during their formative years can shape how they save, spend and give for the rest of their lives.
What's more, taking the right approach can ensure a family's wealth is preserved through future generations. One recent found that 70% of wealthy families lose control of their assets by the second generation, and 90% by the third. That's a frightening
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