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Sun May 21, 2017, 11:25 AM

Oh those poor Rich people!

How the Wealthy Talk to Their Children About Money

Ron Weiner remembers sitting his two girls down to discuss the amount of money they stood to inherit. One was in college and the other in high school at the time, and they wanted nothing to do with the conversation.

“They didn’t want to hear about it,” said Mr. Weiner, chairman and president of Perelson Weiner, a certified public accounting firm. “They weren’t prepared to receive that information at those ages — it wasn’t in their sense of what was relevant to them.”

That was 20 years ago. He and his wife, Vicki, who owned an investor relations firm and now runs a nonprofit that lends money to women, have persisted each year in trying to educate their daughters about the wealth that they will inherit. But it has been a slow process.

“We’re getting closer,” said Mr. Weiner, 71. “The thought of being left all of this money is outside of their frame of reference. You can’t force-feed it.”

Even so, Mr. and Mrs. Weiner are doing something that many affluent people find very difficult to undertake: talking to their heirs about the millions they will have to manage after their parents are gone.

more
https://www.nytimes.com/2017/05/19/your-money/talking-to-children-about-inheritance.html?smid=tw-nytimesbusiness&smtyp=cur

A 90% inheritance tax should cure these people's problems!

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Reply Oh those poor Rich people! (Original post)
n2doc May 2017 OP
dalton99a May 2017 #1
skylucy May 2017 #2
Arkansas Granny May 2017 #3
PatSeg May 2017 #4

Response to n2doc (Original post)

Sun May 21, 2017, 11:31 AM

1. It is hard to keep an eye on so many zeros

with so many spending options

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Response to n2doc (Original post)

Sun May 21, 2017, 11:32 AM

2. Oh brother.

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Response to n2doc (Original post)

Sun May 21, 2017, 11:37 AM

3. Well, lets just say that's a conversation I won't be having with my children.

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Response to n2doc (Original post)

Sun May 21, 2017, 11:41 AM

4. If they don't want to talk about it,

then they should just give it all to charity. If they aren't interested, maybe they should make their own fortunes.

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