It is not always about beautiful homes, lush holidays, and expensive educations. When sons and daughters of wealthy families inherit their entitled fortunes, there are often dramatic side effects. And this is causing many-a-billionaire to re-think what they leave behind. Imagine being given everything you could ever want from a young age. The best education, holidays and homes, then told you never really need to work because your family has more than enough money.
A dreamy scenario for some. But there is normally a side effect: wealth robs children of motivation. The more money that is given to children from a young age, the less passion and motivation they have, say wealth advisors. Add social media to the mix and the problems become even worse. Instagram’s imagery has meant that ‘keeping up with the Joneses’ has gone viral. The Rich Kids Of Instagram, a popular account and TV show, provides ample content to make even the wealthiest scions envious.
