Healthy lifestyle management habits to teach your kids about money.
Five Simple Tips to Teach Your Kids About Wealth History has shown us that wealth of any size can disappear, yet a surprising number of families, including those of ultra-high net worth, don’t engage in succession planning. There are various reasons for this, but the biggest obstacle is a lack of communication between principals and their heirs. Creating a stellar plan is only one part of the process – in order to successfully transfer wealth to your children you must first impart vital knowledge and tools about money. Here are some healthy lifestyle management habits that can help them build financial literacy and implement that plan when the time comes. Examine your own relationship with money. Whether you inherited your wealth or created it, before teaching your children healthy financial habits it’s important to understand your own beliefs…