A problem most Americans will not have to deal with.
Forget investment returns, spending rates or divorce. What really keeps the rich up at night? The fear of ruining their kids with wealth.
A new survey by law firm Withers LLP and Scorpio Partnership asked 3,000 families around the world about their greatest fears regarding their wealth and family future. Among families worth $10 million or more, health was their biggest fear. But ranking second was, "My children will lack the drive and ambition to get ahead."
The spoiled kid issue ranked ahead of "my investments," "I or members of my family will overspend" and "marital breakdown."
Monday, June 23, 2014
Posted by Steve Bartin at 5:33 PM