If you are reading my blog, you probably want to become a millionaire or you already are one.
If you want to become one, and if you have children, you probably are trying to instill your values in your children – the values that are driving you to want to be a millionaire.
If you already are a millionaire, and if you have children, you may be wondering how you need to raise your children (or maybe your grandchildren) differently than you were raised – because they are being influenced by wealth in ways you weren’t.
To address these questions, I will be writing a series of posts (interspersed with posts on other topics) with ideas on how to raise children to be millionaires.
To see all of our How to Raise a Millionaire posts, click here.
Training Kids To Be Millionaires Doesn’t Stop When They Reach 18, or 21, or 35, or….
Some of the most critical training occurs when your child is entering adulthood. They begin to exercise their judgment to make decisions on credit, savings, investments, careers and businesses. Coming into sudden money between the ages of 18 and 25 can totally derail a young adult if they are not financially prepared to deal with it.
However, your child IS an adult. Your child will most likely NOT accept the same parent/child teaching model your family developed as it grew. You will need to find new ways to continue your adult child’s financial preparation.