CHAPTER 14Talking with Children about Wealth
Development
As with other important life skills, learning about money and wealth is developmental. It is crucial to adapt the lesson to the appropriate developmental stage of the child or young adult who is doing the learning.
We find this simple chart helpful in breaking down the complex topic of teaching children about wealth.
| Age range | Message/Activity |
|---|---|
| 5–8 | “We have more than enough.” |
| 9–12 | Encouragement of industry—allowances |
| 13–18 | Basic financial skills and knowledge |
| 18–21 | Managing independence |
| 21–25 | Introduction to structures, their purposes, and eventually assets |
| 25+ | Engagement in family enterprise governance: “interdependence” |
In what follows, we will focus on the first ...
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