Making Money What I Learned Teaching Billionaire Kids About Money
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Oct 20, 2025 Jessica McGawley, a psychological consultant and founder of Dallington, shares her insights on parenting affluent youth. She emphasizes that financial education should start young, advocating for resilience through manageable failures. Unique parenting challenges in ultra-wealthy families offer relatable lessons for all. Jessica discusses the importance of communication, age-appropriate responsibilities, and transparency about money. Her advice includes letting teens experience consequences and fostering discussions about financial mistakes to prepare them for real-life challenges.
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Wealth Is Not Just Money
- Wealth and money are different; money is measurable while wealth is philosophical and personal.
- Define what 'wealth' means for you so you can protect and grow it.
Biosphere 2 Trees Teach Resilience
- Jessica tells of the Biosphere 2 trees that fall over because there's no wind to strengthen them.
- She uses it to illustrate that children need resistance to build resilience.
Let Budgets Break — Then Teach Consequences
- Give teenagers budgets and let them blow them to learn consequences rather than bailing them out.
- Resist covering recurring mistakes so they learn financial responsibility.