A recent edition of the Wall Street Journal featured an interesting essay on how to teach children about the importance of charitable giving. According the author of the piece, some notably wealthy parents are growing concerned that their kids, who stand to one day inherit their family’s sizable fortunes, are unprepared to be multi-millionaires.
Imagine having such worries!
All kidding aside, there is a telling twist in this story. Afraid their kids will either lose the incentive to work and recklessly manage the assets, high-net worth families are turning to philanthropy advisors for advice on how to properly instill in their child a spirit of charity.