OT...advice to kids about money
Want to thank the thread for the many posts on advice about when or how to inform kids about the size of their accounts or trusts. When do you tell them? How do you help them keep perspective, etc.?
I had mentioned in an earlier post yesterday that I have 1 daughter who is 5 years old, and that we had added more Qcom to her overall account, and that we suspect she will be extraordinarily well prepared entering college. It's a little early to tell how she's going to turn out, how level-headed she will be, and so on, and what the best course of action will be. But, personally, I don't like the idea of "hiding things". OTOH, if you are fully honest and tell your 17 y.o. they are a millionaire, well, let's face it, not everyone will respond appropriately to that information.
So, I've printed out everybody's suggestions, and my wife and I will have a discussion this weekend.
thanx very much again,
stan |
