Many affluent parents struggle with ensuring their children do not become spoiled or entitled. Celebrities like Ben Affleck employ practical lessons to teach their kids about the value of money, often reminding them that wealth is theirs, not theirs to spend. In a recent encounter, Affleck humorously told his son Samuel that he needs to mow lawns to earn expensive sneakers, reinforcing this lesson. Warren Buffett and others echo the need for balance, suggesting wealthy parents should provide their kids enough freedom without enabling complacency.
Ben Affleck emphasized to his son that despite their wealth, it's important to understand the value of money: 'I have the money, you're broke.' This reality check helps maintain a healthy perspective on financial privilege.
Warren Buffett believes wealthy parents should provide for their children in a way that allows them to pursue their dreams, but not enough to enable a life of laziness: 'Enough so they can do anything but not enough that they can do nothing.'
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