Thought Leadership

October 23, 2023

Ultra-High Net Worth Parenting: Raising Kids in a World of Affluence

For ultra-high net worth (UHNW) families, wealth brings a world of opportunity. As wealthy parents, you want to give your kids experiences and opportunities you didn’t have.

For ultra-high net worth (UHNW) families, wealth brings a world of opportunity. As wealthy parents, you want to give your kids experiences and opportunities you didn’t have. But wealth also presents a unique parenting landscape: How much do you give your kids and how do you raise them to be fiscally responsible? The goal is to maintain your legacy and elevate it, but also ensure that the next generation is well-prepared to manage the challenges and opportunities that come with wealth. These strategies for raising wealthy kids who are grounded, can help.

Strategies for Raising UHNW Kids  

1. Cultivate Values & Embrace Philanthropy

While the world may be at their fingertips, instilling values like integrity, vision, and leadership is essential. A great way to teach the values that matter most to you is through giving back and community involvement. Choose a local organization to regularly volunteer with as a family. If you have young children who get an allowance, consider having them set aside a third of it for charity and give them the opportunity to donate their money to the charity of their choice.

2. Instill a Sense of Purpose

For self-made wealth creators, success is often about having a sense of purpose to grow your business and to drive toward that success. Overcoming struggles that you face along the way is part of the satisfaction you feel when you reach your goals. When kids grow up with wealth, they experience life differently than you did and may not immediately have that same sense of purpose. Help them to figure out how they want to spend their time. Ask them to think about the kinds of issues and skills that are important to them, and what career path they can see themselves taking.

3. Teach Financial & Personal Responsibility

Mastering financial stewardship is part of your child’s core financial education. The groundwork for that starts early when you are raising kids with wealth. You can equip the next generation with money management skills by having them budget the money they have now. Teaching them about investing and how money can grow or be lost shows them that money is not an endless resource.

4. Champion Independence

As parents we want our kids to face less hardship than we did. But always swooping in to lend a hand when our kids face difficulties or obstacles takes away their ability to solve issues on their own. Giving them the tools and the space to solve problems helps build self-confidence and resilience.

5. Set Up Family Meetings

Open conversations are key for UHNW families. Create spaces where aspirations, visions, and even challenges are discussed. This transparency ensures that the family's vision evolves and adapts, always staying ahead of the curve.

6. Teach By Example

Showing kids the work you put into your business and endeavors is one of the best ways for them to understand the value of money and hard work.


The world of UHNW families is one of privilege and responsibility. With the right strategies, this responsibility transforms into an opportunity to raise a generation that's wealthy in resources, vision, and values. 

Disclosure: R360 is not an investment adviser. Information provided within is for educational purposes only and should not be construed, nor is intended to be, investment advice or a recommendation to invest in any types of securities. R360’s views are subject to change at any point without notice. No investment decision should be made based solely on the content herein and only a financial professional should be engaged for providing investment advice and recommendations. Past performance is not an indication of future returns.

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