The first-gen wealth creators who struggle to talk to their kids about money

Every culture has its own version, but in Britain the saying goes: from shirtsleeves to shirtsleeves in three generations. The anecdote about how family money can easily disappear is particularly poignant for entrepreneurs trying to navigate whether, or how, to pass along their wealth to their children.

Compared to the institutionally wealthy, who may see themselves as custodians of family wealth, entrepreneurs or first-generation wealth creators can have a more difficult time talking to the next generation about money.

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