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The Money Talk

By Clip Syndicate
Talking with our kids about money can be tricky business. The consequences of getting it wrong can be far-reaching. CNBC's Scott Cohn reports.

http://eplayer.clipsyndicate.com/view/12512/7316042 Video: The Money Talk
Talking with our kids about money can be tricky business. The consequences of getting it wrong can be far-reaching. CNBC's Scott Cohn reports.
http://chic.clipsyndicate.com/video/playlist/12512/7316042?cpt=8&wpid=2637 Fri, 06 Apr 2018 16:29:00 +0000 The Money Talk Talking with our kids about money can be tricky business. The consequences of getting it wrong can be far-reaching. CNBC's Scott Cohn reports. http://chic.clipsyndicate.com/video/playlist/12512/7316042?cpt=8&wpid=2637 WMGT Oklahoma teenager Allen Ruby had it all were talking coach Versace Gucci he had 20 25 pairs of shoes and a share of a million-dollar Family Trust when he turns 21 when his parents threaten to cut him off he goes on a murderous Rampage the story told him the next American Greed is Extreme but family wealth manager Bruce high as it goes to show The Perils of giving kids money before they're ready I think when you give children too much wealth to easily that's where the problems begin whether you have a little money or a lot begin talking to your children early and keep the conversation going I've says kids should know by their first year of high school about how they're paying for college I think preparing them and not surprising them to be late is important conversation to have let beware of giving them money early particularly when you consider your will instead set up a trust that pays out over time the money talk is complicated any but the sooner you get started the easier it will be Scott cone NBC News





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