Resist the Taboo: Talk to Your Kids About Family Wealth

Family discussions about money are important in educating children about financial concepts and the family’s legacy.

A father and and his young son sit on the floor in the kitchen and talk.
(Image credit: Getty Images)

For most parents, the idea of discussing the family’s money and wealth with their children has long been seen as a taboo subject. In many ways, this taboo crosses socioeconomic boundaries. High-income and low-income families alike are often reluctant to discuss the home’s finances with their children for a number of reasons. Parents might tell themselves that talking about money will invite their children to pass judgment on themselves or others, or that they will go on to discuss private information with others in ways that are inappropriate.

While these challenges are real, it is perhaps more important than ever for families to treat discussions of their finances as an integral part of educating their children.

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Charline E. Burgess, M.Ed.
Senior Wealth Education Specialist, Morgan Stanley

Charline Burgess is the Senior Wealth Education Specialist in Morgan Stanley’s Family Governance & Wealth Education unit within Family Office Resources. In this role, she develops, coordinates, curates and teaches financial education programs for Financial Advisors and their clients. She has a passion for education and has considerable experience in education instruction, curriculum and content development for a variety of platforms. Charline currently holds her FINRA Series 7, 63 and 65 securities licenses.