Talking To Children About Money
May 28, 2012 2 Comments
“Parents need to make talking about money a rite of passage with their children.The most successful families talk about finances early and often, making children feel involved, empowered, and better prepared for the future.”
—-Michael Farrell, Managing Director for SEI Private Wealth Managemen
富不過三代(富不过三代) (fu bu guo san dai)
Literally: Wealth does not pass three generations.
Meaning: It’s rare that the wealth of a family can last for three generations (the 2nd may see the value of hard work, but the 3rd forgets it).
Explanation: In business, the first generation works extremely hard, so that the second generation reaps the benefits. By the time the third generation arrives, the wealth is squandered.
A fool and his money are soon parted. Thoughtful stewards(inheritors), on the other hand, deserve to keep it and use it productively.The distribution of wealth is not a problem that requires government intervention, as it is self-correcting.
puth kaputh to kya dhan sanchay aur
puth saputh toh kya dhan sanchay