Help, I m Rich!: Your Compass to a Value-Adding Private Banking Experience

Chapter 18 Raising Wealthy Children—So Many Obstacles

We observe six common patterns that are specific among the rich, potentially having a significantly destructive impact on the development of the next generation(s):

1. Isolation and loneliness
2. Pressurizing expectations
3. Self-esteem issues
4. Abundance of choice
5. Mismatch between appearance and being
6. Egocentrism

All of these patterns have this in common: They affect the mental maturity of the children and ultimately their ability to lead a happy and fulfilling life.

Before it makes sense to start thinking about how you can avoid having the proverb “shirtsleeves to shirtsleeves in three generations” apply to your family situation, it is important to gain insight into the typical challenges that rich families have when raising their children. In this chapter we take a closer look at the patterns that we observe with regard to children growing up in a wealthy setting.

Why is it so challenging to raise children with healthy, strong, determined characters, which they need to be successful and ultimately happy in their own right? We observe a few patterns. A relative large number of wealthy children:¹

1. Tend to be isolated from society, often leading to loneliness.
2. Live with high and pressurizing expectations.
3. Are struggling with self-esteem issues.
4. Are “suffering” from the abundance of choice.
5. Struggle with a mismatch between appearance and being, between outside and inside, between form and substance.
6. Show symptoms of egocentrism. ...