Family Office Exchange shows specific family business education is the key.
For children, growing up in a wealthy family comes with certain challenges. Many such children have difficulty conceptualising the value of money, or take their family’s wealth for granted. On the other hand, they may feel a sense of guilt or even shame for enjoying wealth they didn’t earn, and a sense of pressure to “make the most” of the fortunate situation they were born into. Indeed, research shows that adolescents from affluent backgrounds are more prone to depression, substance abuse and anxiety.