Cultivating a Child's Financial Genes: Breaking the Ancient Curse of "Wealth Doesn't Last Three Generations"

Author: Chen Tao
Publisher:
Publish Date: 2005-01-01
Features: "All evils begin with 'silver'," "famous fathers often have disappointing sons," "heroes have always faced hardships," and "money cannot buy the happiness of the next generation." Learn from the lives and legacies of billionaires like Rockefeller and Bill Gates. Our children do not need to start earning money from a young age, but they do need to be taught the correct mindset about money, a healthy attitude toward life, and essential financial skills. Otherwise, in this increasingly competitive material society, our children may either become slaves to money, or become scoundrels, or cowards in life. This is not alarmist rhetoric. Correspondingly, this is also about the attitude of American billionaires toward inheritance taxes. After President Bush took office in 2001, he announced the abolition of inheritance taxes within 10 years. In the United States, an is applied, meaning the larger the inheritance amount, the higher the tax rate, with a maximum of 55%. Bush gave such a valuable gift to the billionaires, and they should be grateful. However, strangely enough, the billionaires did not appreciate it. In February 2001, 120 of the wealthiest people in the United States voluntarily wrote to Congress, petitioning for the continuation of inheritance taxes. When it comes to wealth education for the next generation, Chinese parents today might want to think deeply. This book is both insightful and easy to understand, making it worth reading carefully.