When the family of one recent high school graduate gave him the gift of a month-long European vacation, with accommodations in some of the continent's finest hotels, he wasn't terribly impressed. In fact, he shrugged it off as "just another trip" before he starts college.
While that may be surprising to those of average means, it's not uncommon for high-income families to face challenges making their children understand how special something is, especially if they've spent their lives surrounded by extraordinary privilege.
The good news is that many wealthy families do manage to provide their children with an abundant lifestyle without causing them to be materialistic by teaching children a balance of earning, spending and giving.
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Your Market News update for May 30, 2019 | View online Market News News that's moving the market now As Trade-War Worries Linger, Market Seems to Lack Buying Conviction May 30, 2019 8:40 AM | JJ Kinahan 6 min read | Daily Market Update