• “Grade school, ages 6 to 12
    •  Discuss caring for possessions.
    •  Structure an allowance: Most experts suggest a modest amount for being part of the family and doing certain basic household chores.
    •  Provide jobs for pay.
    •  Encourage long-term savings: Consider matching any money they will save for over a year.
    •  Set limits around money, for example, not buying everything they want when you go shopping.
    •  Introduce philanthropy: Help them to give and take them on-site visits.

     Teen years, ages 13 to 18

    •  Insist on summer employment; fund their Roth IRA.
    •  Guide them through their budget and a 1040 tax return.
    •   Advocate smart consumerism: For example, discuss the messages in advertising and the impact of advertising on their purchases.
    • Discuss the intelligent use of credit cards and checking accounts.
    • Explore investments on the Internet.
    •  Engage them in philanthropy: Encourage site visits and include them in evaluating gift decisions.

     College years, ages 18 and over

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    • Work with them on a college spending budget.
    • Insist on summer employment and fund their Roth IRA.
    • Set up adviser-facilitated learning about investments.
    • Provide money for them to manage.
    • Explain the roles of trustee and beneficiary, if trusts are used in your family.

    · Engage them in philanthropy; add them to the board of your philanthropic fund.”  Wealth in Families Third Edition (Charles W. Collier) Page 55-56