Using Your Wealth and Values to Enhance Your Family’s Lives

For families with significant wealth, one question often comes up: “How can I support my children financially in ways that help them thrive?” While financial resources can open many doors, there can also be times when too much support too soon makes it harder for children to build independence, confidence, and resilience on their own.

Sometimes Less Is More

To a certain extent, life is about struggling and figuring it out. Too much money takes away the opportunity to struggle, grow, and learn.

Without the growth and strength that comes with struggle, we often start to look at our money as a source of security that inevitably will leave us feeling vulnerable because we lack the self-confidence that we can take care of ourselves and our family.

When we struggle and overcome adversity, we build our resilience and persistence. We become more empathetic because our struggles allow us to relate to others as they endure and overcome their own struggles.

How do you help your child reach their full potential and use your money to enhance their quality of life?

The way out of this challenge is for your child to live a period largely on their own earnings, to go out and find a job that supports them and that ideally gives them a sense of meaning and purpose.

Once your child has figured out how to navigate the world on their own as an independent adult, then you can help make their life a little easier.

For example, give them some money to:

• Renovate their kitchen

• Take a great vacation

• Go back to school

• Help fund your grandchild’s college fund

You can even consider making annual gifts within the current federal gift tax exclusion amount, enough to make their life easier, but not enough to support them comfortably.

Prepare Your Children for Their Future

Once your children have figured out how to support themselves and their family, it’s important to help them put their success and wealth in the context of the world around them. Consider these two ideas to get you started:

1. Recognize the factors that went into building your financial wealth.

Senior members of the family can have meaningful conversations with younger generations about the many factors that helped shape the family’s financial success, including hard work, perseverance, risk-taking, and moments of good fortune along the way. Recognizing that success is rarely built on effort alone can help foster humility, empathy, and a deeper appreciation for the experiences of others.

2. Get out of your wealth bubble.

For children growing up with significant financial privilege, it can be valuable to spend time with people whose life experiences are very different from their own. Our sense of what is “normal” is often shaped by the people around us. Even those with considerable wealth can lose sight of what they have if they are surrounded by others with more. Broadening that perspective can help children develop gratitude, empathy, and a deeper understanding of the challenges many people face in meeting everyday needs.

Think About Your Living Legacy

Once you realize you have more than enough for yourself and your children, it’s natural to begin thinking about how your wealth might also be used to support others. How can you bring together your passions, talents, and sense of purpose to make a meaningful difference in the world around you? If that feels like a big question, start by thinking about what moves you most deeply. Who would you like to help? How would you like to leave the world a little better than you found it?

Part of this can also mean supporting your children as they look for ways to make a difference. Have open conversations as a family about what matters most and the issues each person feels drawn to. Talk about how they might use their time, talents, and perspective to support causes they care about and, where it makes sense, how you might encourage those efforts through financial support or introductions within your community. If there is interest, you may even find ways to work together toward a shared goal. The most important thing is to let your adult child take the lead, while you offer support, guidance, and encouragement along the way.

A life well lived is often grounded in self-sufficiency and quiet confidence. It is shaped by close, supportive relationships and by finding meaningful ways to use one’s talents and energy in service of something that matters. Money is simply a tool. When used without intention, it can create complications and heartache. When used thoughtfully, it can help support a life filled with purpose, connection, and joy.

You Don’t Have to Make Hard Decisions Alone

Your Wealth Enhancement financial advisor can help create a cash flow model that shows you how much money you need to support your current lifestyle and how much more you can spend without putting you or your family in harm’s way.

May the wealth you worked so hard to create enhance the quality of your life and those you love.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

2026-12545