Three essential traits to support flourishing in the rising generation
Children in wealthy families face unique challenges and complexities. Typically, parents learn about navigating wealth while building their capital — and mistakenly believe that passing on their own skills and values will set their children up for success. But the skills needed to manage wealth are different from those required to create it. As a result, members of the rising generation often struggle to integrate wealth into their lives.
As a parent, you can help prepare your child with the financial skills and guidance they need to thrive. Our new piece, Empowered: Three essential traits to support flourishing in the rising generation, discusses three traits of children who tend to flourish: character, contribution and competence. You’ll learn valuable exercises and activities to help your child develop these traits and build core competencies in key areas — including saving, spending and investing. With ongoing learning, you can help your child skillfully manage wealth and face the future with confidence.
Reach out to your Merrill private wealth advisor to discuss further, and for help in explaining financial concepts to your child.