Cornelius Vanderbilt, Vanderbilt University discussed on Chappelwood Financial with Victoria Woods

Automatic TRANSCRIPT

Is a lack of trust and communication seventy five percent of parents feel that their kids aren't responsible enough to inherit their wealth yet sixty four percent of those reported that they had disclosed little or nothing about their wealth again in what world can someone who has never been exposed to a skill to be expected to magically know that skill when they become an adult it is not going to happen if you do not talk too much your kids about money when they're young you have no cause to expect they're suddenly going to know how it all works when they become adults it's kind of the same concept of if if you're not gonna vote if you're not going to exercise your right to vote it is your right not to vote just like it is your right to vote but later on if things don't turn out quite the way you want them to you don't really have much of a leg to stand on since you chose not to participate in the process so again if you want some result you need to take some action to get that result that you want you know your kids may be financially responsible and chances are you made them that way here's a little story Cornelius Vanderbilt a lot of you know the Vanderbilt name Vanderbilt University is named after him he was a railroad tycoon may billions of dollars the equivalent of billions of dollars in today's money when he died in eighteen seventy seven he left his family the equivalent today of one hundred billion.

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