don’t need to work in life?”

If you’re smart, it’s nothing like this.

Money should actually make your life easier and less stressful if you’re using it right. And that should be true for your kids as well.

Create a culture in your family where kids know they are entitled to nothing. Start from the very beginning telling them “no”. And be honest that you’re telling them “no”, not because you can’t afford it. You’re saying no because you don’t want to give them it. You provide only the things you want to provide for them, and any wants they have beyond that will need to be figured out by them. They’ll have to work. And you’ll use your money as you want to and to help others.

When they learn to appreciate the value of work and money and become driven, productive people, then the addition of the resources you can provide will greatly multiply their ability to improve their lives and the lives of others. Teach them the process that made you successful, and if they can learn to believe in it (they’ll have grown up with proof after all) and they will stick with it and teach it to their own kids.

Generational wealth is more dependent on generational teaching than a huge sum of money. But in any one generation the presence of money can make it happen decades sooner for that person.

It doesn’t have to lead to weak character.