I read this Barron’s article today and thought we should discuss it. Too much money rarely ruins kids, it’s too little character as we stated in our May 3rd, 2011 post. Character is the the foundation on which good responsible people are built. Money or no money. Money seems to only enhance the character that already exists. Sure, education is crucial, actual experience is a must and communication is paramount. But, we always have to turn to the number one ingredient for a good person and a good steward of wealth, CHARACTER! Then we can build the other muscles that allow next generation heirs to carry on family values, businesses and wealth.
Reminds me of a quote from the late great coach John Wooden. “Be more concerned with your character than your reputation, because your character is who you really are and your reputation is merely what others think you are.”
I found this an enjoyable read and I think you will too. Good ideas, great stories and some solid solutions. Enjoy!
