we generally assume that Millionaires will not worry about their children in issues in matters connected with money . we think that teenagers with ultra -wealthy parents lead an idyllic life but is it so.
No says a Director of family wealth services even parents of the ultra- rich worry whether their children can manage and handle there inheritance. Herbert Gowan whose fortune began with a steamship company has engaged a financial expert to join the family weekend to teach the present generation about the need and preserving investment . They have also started a newsletter in this regard. .
some parents ensure that there wards recieve the right type of financial education so that they interact with financial advisers in a right manner . some of the parents wants their children to have careers. A parent is said to have stated that unless my daughter works for her goal she will not be satisfied.
some of the parents are asked to counsul their children to interact with each other so as to avoid sibling fighting over fortunes and washing dirty linen in public. The classic case being the Ambanis
so folks dont think that millionaires are not concerned about leaving money for posterity and only the middle class is concerned about inheritance.