- Joined
- Dec 17, 2022
Agreed. Nick has certainly had his share of handouts, but real money (relative to family fortune) requires trust and even moreso if the parents feel they can provide it with a warm hand (while still alive).My impression is that the parents don't trust Nick with real money.
Grandpa worked for his fortune. My dad helped build the fortune further. Taught me the importance of hard work prior to teen years, including wealth management/investing. Trusted each of us with small amounts, which I was able to grow. Demonstrable competency and work ethic created more opportunities via established trust.
Another benefit was the opportunity to bond with my grandpa and dad over something they both enjoy and thought was important. Always something to talk about.
Another benefit was the opportunity to bond with my grandpa and dad over something they both enjoy and thought was important. Always something to talk about.
Spoiled kids can still get some money from their parents without trust, though this is usually due to familial dysfunction. Parents who don't know how to show their children love without using money, essentially "buying" their child's love, demonstrate a fundamental misunderstanding of a healthy parent-child relationship. Suffice it to say money cheapens the relationship. Rather than build trust, it builds entitlement (and usually resentment).