Publications
Publications
- February 18, 2014
- Harvard Business Review (website)
Keep Your Kids out of the Entitlement Trap
By: Josh Baron and Rob Lachenauer
Abstract
This article discusses the concern among wealthy family business owners that their children may become entitled and fail to contribute to society. The fear is grounded in reality, as studies show that a significant portion of inherited wealth is squandered. The article highlights common choices parents make that increase the likelihood of their children feeling entitled, such as not having jobs, lacking the ability to build careers, avoiding suffering, and lacking gratitude. It suggests that parents can combat entitlement by asking themselves key questions and taking steps like encouraging work, allowing children to face challenges, teaching gratitude, and staying involved in their children's lives.
Keywords
Citation
Baron, Josh, and Rob Lachenauer. "Keep Your Kids out of the Entitlement Trap." Harvard Business Review (website) (February 18, 2014).