New Wealth Resource Portal For Parents, Advisors and the Press

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A valuable resource for families and their advisors, to better prepare the next generation for any economic scenario.

Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation

More than at any time in recent history, parents are recognizing the critical need for them to teach their children financial skills, discipline and values they will need to navigate the uncertain times ahead.

A new free online portal, Wealth Resources, provides links to many tools that can help parents who want to better prepare their children for any economic scenario they may encounter in the future.

Created by Jayne Pearl and Richard Morris, co-authors of Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation (Bloomberg, a Wiley imprint, February 2010), the Wealth Resources page includes links to dozens of articles, statistics, provocative blogs sites, networking organizations, money games, calculators and events, all of which focus on wealth, financial parenting, investing, and estate planning.

“Even as the economy begins to show signs of life, parents remain worried about the many challenges their families face with the sluggish job market, rising cost of food, gas and tuition, an increasing personal bankruptcy rate, and whip-speed pace of technology changes that make products obsolete almost instantly,” say Pearl and Morris. “More than at any time in recent history, parents are recognizing the critical need for them to teach their children financial skills, discipline and values they will need to navigate the uncertain times ahead.”

The authors explain, “Since we began the research that turned into our book, we stumbled upon many terrific resources about wealth. We continue to refer to these resources to keep up with new events, proposed legislation, statistics, trends and social and economic developments that impact wealth. Now we have found a way to share those resources with parents and their advisors on the ‘Wealth Resources’ page of our website.”

Kids, Wealth, and Consequences helps affluent parents and their advisors understand how affluence affects children’s future success, happiness and motivation. The book explores everything from how and when parents should talk to their children about the often-uncomfortable topic of money to what affluent families can learn from the economic meltdown about spending, saving and investing to help them better prepare themselves and their children to survive in any economic environment.

Jayne Pearl is a journalist and entertaining speaker, focusing on family business and financial parenting. She is author Kids and Money: Giving Them the Savvy to Succeed Financially (Bloomberg Press) and has co-authored or ghost-written ten other books. Jayne began her career at Forbes and was former senior editor of Family Business magazine, to which she has contributed for 20 years.

Richard Morris is an adjunct professor at the Lake Forest Graduate School of Management and is principal of Chicago-based ROI Consulting, helping family owners expand and pass down their business to subsequent generations. Previously, he worked at his family's 80-year-old privately held company, Fel-Pro Incorporated, managing Marketing and then Acquisitions, and serving on the Board of Directors until its sale in 1998.

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