Many wealth management clients often want to know how to prevent their children from becoming entitled. Specifically, they’re concerned that their children will rely on family wealth instead of forging their own paths to success and will lack an understanding of money beyond how to spend it. Moreover, parents may inadvertently seed entitlement in their children even as they’re trying to avoid it. To sidestep the entitlement trap, here are five consistently identified principles to help parents create more self-reliant children.
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More organizations are rethinking their existing wellness programs to create a true culture of health that supports employees’ personal health goals while improving the performance of the organization. Learn how a Health and Performance Program can provide personalized support, tools, and incentives to help individuals make important lifestyle changes that are aligned with performance objectives and your workplace culture.
Education is an expense that impacts many families each year. As the cost of secondary and higher education continue to rise, many families should consider the tax benefits of funding educational expenses. The type of vehicle used to fund educational expenses varies and can include education trusts and qualified tuition programs that are designed as investment accounts.
When you make more money than your friends, it can set up awkward and uncomfortable money dilemmas. However, there are ways to get around them by having a few good verbal comebacks and a dose of niceness to help you sidestep a lot of cringe-worthy money situations.
A host can be held liable for injuries caused to a third party if an intoxicated guest causes a car accident. If guests are injured on the premises due to hazardous conditions, the homeowner can be held liable. Such incidents may include slipping and falling on icy walkways, uneven floors, or broken staircases. When hosting a social event, following a checklist of practical steps can help eliminate or minimize potentially costly and dangerous outcomes.
International travelers are vulnerable to a wide range of risks, including political unrest, natural disasters, and medical emergencies. The financial impact of these events on travelers can differ considerably—especially those who are not adequately prepared. Following a checklist of basic practical steps will help you and your families prepare for a safe trip abroad.
The popularity of international travel will grow and evolve as accomplished individuals seek to add memorable and thrilling experiences to their lives. While you can certainly experience a special trip nearly anywhere in the world, don't be hasty in your preparation. Protect yourself with the right information and insurance to avoid large and small risk exposures.
Helping your children learn to become financially self-sufficient can be one of the most satisfying jobs of parenthood. By “forcing” your children to make choices about how to spend limited resources, you’re creating opportunities to help them find their interests and passions and discover what is truly important to their happiness. The more you can do to help your children become financially self-sufficient, the more confidence they and you will have in their ability to eventually take a leadership role in managing your family’s wealth and legacy.
Sometimes, unfortunately, a trip to the hospital is unforeseen and unplanned. Often, however, procedures and elective surgery are scheduled in advance. If this is the case for you or a loved one, planning ahead for a hospital stay and taking a few simple steps can ensure greater comfort and a faster recovery. This is important for everyone, but especially for those who are older.
Most people prefer to age in place. If you have a beautiful and gracious home that you love, why leave it? Yet common features in many homes—steeps stairs, “classic” plumbing fixtures, even hardwood floors—can actually make life less comfortable, or sometimes even dangerous, as you get older. Fortunately, there are many attractive home décor options that are also age-friendly. If you’re remodeling a home, putting a little thought into your likely future needs and planning for them can save you the hassle, expense, and possibly a trip to the emergency room.