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Why We Lied to Our Kids about Their Inheritance

History tells us that people squander money they inherit or haven’t worked for. And if they don’t squander it, their children surely will.
This is a serious problem for seriously wealthy people. But I believe it’s a problem for middle-class people, as well. Giving money to your children can make them wasteful, dependent, weaken their ambition, strip away their independence and might even make them greedy. So what can you do to help your children learn to succeed on their own and manage money well?

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