Wealthy parents face the challenge of providing their children with resources without fostering entitlement and laziness. Striking the right balance can prevent kids from becoming 'trust fund adults' who lack motivation to work or save. A Reddit case illustrates the concern that wealth may harm childrenâs development. Parents need to set boundaries and establish expectations to cultivate financial independence. Meeting with a financial planner can help modify trusts to provide the necessary incentives without granting free rein over financial resources.
Wealthy parents must have the right boundaries and set of expectations in place to prevent fostering the wrong traits and an unhealthy relationship with money.
It's a balancing act as affluent parents aim to grant enough resources to their children without incentivizing laziness or entitlement.
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