Insights: Affluenza, Finding a Niche, and Taking a Vacation

Advice and guidance on topics relevant to small business owners in addition to tips on growing and managing your personal wealth.

PERSONAL FINANCE BUSINESS Don't Let Your Kids Catch “Affluenza" After a Texas teenager fled the country in 2015 to avoid the consequences of a probation violation, “affluenza" emerged as a new buzz word. The term, coined by a psychologist during the teen's drunken driving trial, implies that financial privilege can make kids unable to understand the impact of their actions. The notorious defense was debunked after the teen and his mother were apprehended in Mexico and it became clear that the case had more to do with poor parenting than excessive wealth. But the concept of wealth as ill-gotten, rather than hard-earned, has grown dramatically — despite the fact that most affluent families got that way due to good decision-making. Hear from expert financial educators on how to actively teach your children to manage money prudently. Read More MORE ARTICLES The Founders of Pensado's Place on the Importance of a Profitable Niche Read More How to Take a Vacation When You Run a Business Read More 4 Ways to Pass Along Inter-Generational Financial Wisdom Read More Unsubscribe from this list  |  Update email preferences This message has been sent to bank@banking.offers.report. Please do not reply to this email. To ensure the delivery of future emails, please add email@emails.cnb.com to your email address book or safe sender list. Copyright © 2019 City National Bank – All Rights Reserved. 350 South Grand Avenue, 12th Floor, Los Angeles, CA 90071 City National Bank is a subsidiary of Royal Bank of Canada. TERMS & CONDITIONS  |  PRIVACY STATEMENT NMLSR ID# 536994 | City National Bank Member FDIC