Funny About Money
Money is both basic and complicated. It enables us to get the things we want, yet people are often reluctant to talk about how much they make, how much they have or how much they pay for things — even to their own family.
In fact, according a recent survey of affluent investors:
- 62% said they do not plan to tell their children about their net worth — ever
- The lower their net worth, the less likely they are to tell their children
- 75% of business owners said they do not tell their kids about their financial situation
- Of the 38% of investors who did tell their children about their net worth:
– 61% said they did so in case something happened them
– 56% said they wanted their children to understand the implications of major financial decisions, such as their college choice
– More than 50% said they spoke to their children about the family’s net worth once they reached age 21 or older
[CLICK HERE to read the article, “Over half of wealthy people don’t tell their kids what the family is worth,” from Business Insider, March 4, 2015.]
We are an independent financial service firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. Our firm is not permitted to offer, and no statement contained herein shall constitute, tax, legal or investment advice. Be sure to speak with qualified professionals before making any decisions about your personal situation. Our firm is not affiliated with the U.S. government or any governmental agency.
This content is provided for informational purposes only. It is provided by third parties and has been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.
If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.
AE03155031
Ready to Take The Next Step?
For more information about any of the products and services listed here, schedule a meeting today or register to attend a seminar.