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Wes Moss Comments to Private Wealth Magazine About Inheritance Burdens

In an article from Private Wealth Magazine (online) Wes Moss comments on the real world issues involved in large wealth attainments.  Wes addresses the common problem of trust inheritances by saying,“When someone starts getting $40,000 to $50,000 a year for the rest of their lives, they think money seems to just grow on trees.”  

In an article from Private Wealth Magazine (online) Wes Moss comments on the real world issues involved in large wealth attainments.  Wes addresses the common problem of trust inheritances by saying,“When someone starts getting $40,000 to $50,000 a year for the rest of their lives, they think money seems to just grow on trees.”  The article expounds upon the fact that it is  precisely this thinking which results in financial ruin for most who acquire large sums of wealth without the financial know-how to manage those funds in a sound and responsible manner.  Child trust inheritances is cited as a common situation in which the acquisition of wealth is placed in the hands of  young, less experience persons incapable of managing the challenge of those funds with a real world perspective.  Wes’s advice is, “… I’d make them wait, make them work, make them financially literate, make them save. And make them give. It will make them more self-reliant,” Moss says.

 

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