@article {Jaffe11, author = {Dennis T Jaffe and Fredda Herz Brown}, title = {From Entitlement to Stewardship:How a Prosperous Family Can Prepare the Next Generation }, volume = {11}, number = {4}, pages = {11--28}, year = {2009}, doi = {10.3905/jwm.2009.11.4.011}, publisher = {Institutional Investor Journals Umbrella}, abstract = {The authors first observe that the major concern they hear from older family members can best be paraphrased as, {\textquotedblleft}How can we raise our kids so that they don{\textquoteright}t develop an entitled attitude but have a positive desire to work, contribute, and care for others?{\textquotedblright} Each generation wants the next one to develop a healthy relationship to money, where it can be appreciated but not depended upon for self-worth. While parents want to develop responsible and caring children, the actions they take to make that happen may be irrelevant or actually produce the opposite result. Too often, they initiate a few well intentioned, but very limited, actions that don{\textquoteright}t really respond to the deep challenge of raising children amid wealth. Parents try to save their children from themselves, but by limiting their ability to make wrong choices, they may also limit their ability to make good choices or, even more importantly, to make poor choices and learn from them. The existence of such limits may have the unintended effect of stifling growth. Despite these pitfalls, the authors believe that a family can help the next generation develop a relationship to the family{\textquoteright}s wealth that they characterize as stewardship. The focus of the article is thus to investigate how that concept can be put into practice.TOPICS: Wealth management, in wealth management}, issn = {1534-7524}, URL = {https://jwm.pm-research.com/content/11/4/11}, eprint = {https://jwm.pm-research.com/content/11/4/11.full.pdf}, journal = {The Journal of Wealth Management} }