I believe this was the article Bill Gates read before he decided not to leave lots of money to his kids.

INEVITABLY those who hand on their wealth see proper upbringing as the ultimate safeguard against potential problems. Says Katharine Graham, 69, chief executive of the Washington Post Co. and head of a family whose fortune totals some $350 million: ”My instinct would be to just pass the money on and hope that in doing so you also pass on your values — how to use it, the life to lead, the standards to have.” Besides, some rich individuals argue, not giving it to the children can cause problems too. Says one: ”If you’re the child and you see your father with all this dough and you get some but not much, I just can’t help thinking resentment will enter in.’

I feel pretty strongly that if my adult child is resentful that I’m not giving them my windfall – I’ve failed to pass on the right attitude, and it’s only a good thing if they get no money.


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