The big pot or small pot waiting for kids when you pass on from this life to the next…are they ready for it? Most millionaire parents say they are not ready for their inheritance.
This is really an unfair assessment and conclusion. Who invested the time and resources to help them get ready? How much were they given gifts without work all along they way throughout their life only to enter adulthood and be told to “grow up” or else.
The truth is most privileged kids are not fit to inherit. However, how about testing out that inheritance along the way while you’re still around to help them become more fit. How about investing in coaching and mentoring for their development. What about educating them about money – how to make it, keep it, and preserve it.
Like an Olympic athlete in the early moments of realization that he or she could be a good athlete, they need training and develop. They may wake up one day are realize they are an athlete. But it is the training and development that turns them into an Olympic athlete.
How about looking at children who are unfit for their inheritance as Olympic athletes in the making!
(Warning: Take this approach or you could look back one day and realize you’ve created wealth regrets. See this special report.)