Last week, I was quoted in the Canadian Family Offices article, “When to tell the kids you’re ‘comfortable’ (though they likely already know)”. This article touches on the important topic of when to speak with your children about the family finances.
In my opinion, earlier is better than later. “There’s a reason to sit down and have ‘the talk’ earlier rather than later: The kids probably already know the family is rich. Even very young children can decipher where their own family sits on the wealth continuum when they go to classmates’ birthday parties or attend sleepovers. Clues might be subtle, but they’re there.”
All in all, it’s best to have age-appropriate discussions with your children throughout their lives and engage them from a young age. To learn more about this topic and read the full article, click the link below.