What the rich teach their kids

Here is a cool article... it is an easy read even though it looks like it is long. Wealthy or not I hope to teach my kids the values that are talked about in this article.

Here is an exerpt:

In truth, most megarich parents say they are working hard to teach their children to value philanthropy, cultural experiences and other personally enriching activities above material goods, according to a 2007 American Express Platinum Luxury Survey of about 1,100 U.S. parents with average net worth of around $4.3 million.

Ninety-one percent of parents surveyed indicated they had encouraged their children to participate in charitable or philanthropic activities; almost two-thirds of children had donated a part of their own money to charity. About 45% of the respondents' children had part-time jobs, and close to half did not receive an allowance. When parents spent money, they typically did it on experiences such as travel and not on material goods.

For the full article go to: http://articles.moneycentral.msn.com/Investing/StockInvestingTrading/whattherichteachtheirkids.aspx