Too many choices can drain our happiness, according to Barry Schwartz’s book The Paradox of Choice. Excessive choice often makes us indecisive, or we end up wanting something we didn’t choose. However, too few choices aren’t any better, leaving us feeling stuck or shortchanged.
Children born into generational wealth face a unique paradox: while wealth expands opportunities, it can also limit them.
On one hand, financial security allows them to explore passions without the pressure of earning a living, and their family name may open doors. But too much opportunity can breed entitlement. On the other hand, family expectations may push them into a prescribed path—such as joining the family business—leaving them feeling trapped rather than empowered.
We strive to create opportunities that empower our children to live happy, fulfilling lives. However, these opportunities can overwhelm them with choices or make them feel trapped by limited options. How do you successfully integrate wealth and opportunities for your children? Read “The Paradox of Choice: How Wealth and Opportunity Can Empower or Stifle Potential in Families.”
Read about successfully integrating wealth and opportunities for your children here.
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