Celebrities are Raising Their Kids in Modest Environments and That’s Probably for the Best
Many celebs have achieved their star status by accident as they never aspired to become a celebrity. But for some, being a celeb has always been their ambition, for the glitz, glamour, and fame that is acquired. It’s no surprise as it signifies that they have finally ‘arrived’. It’s about fame and fortune. A swollen bank account is a major perk of being a celeb and their newfound monetary freedom. But instead of being savvy and smart with their money, a lot of them end up flaunting it all over social media.
Who raises up Brats?
Most celebrities are rich and many of them are now parents, and these celebs want their kids to be just as successful. Kids are impressionable, and often copy their parents. If parents show an utter disregard for money, their kids follow suit. Many of these kids grow up spoiled, rich, entitled and bratty and some celebs realize this and move to the extreme end of the spectrum. Rather than raising their children wealthy, they choose to raise them like they are poor, in the hope that they instill sensible values in their kids who understand the importance of money. Raising children in a wealthy environment is not an easy task as privileges may get to their heads, clouding judgment on whether to work towards their own goals or live off their parents’ money. Celeb parents have ingenious ways of bringing their kids up-to-date when it comes to money matters, while instilling in them the value of hard work and the joy of earning from a venture after investing time, energy and money on. Barbara Corcoran who started with a $1,000 loan and built up a real estate empire worth $66 million, says that raising rich kids require parents to be extra careful.
Class Before School
Alex Rodriguez, CEO and ex-baseball star turns the morning ride to school into a class on business, quizzing his young daughters on stocks, real estate, and on frugality matters. It may seem easy, but always doesn’t go well with them as they get bored with everyday lessons, and opt to listen to the radio. But A-Rod is not giving up. Warren Buffet, his mentor, says teaching kids proper financial habits when young, prepares them for success later in life.
Gotta Earn It
LeBron James is the highest-earning player in the NBA and his kids will never want for anything. He and his mom lived from hand to mouth in Ohio while his children have a privileged upbringing. He admits his kids are way over the top, and will never understand about rock bottom. It’s difficult being a parent, but he sets personal challenges and goals to meet and feels his three kids have a long way before making their lives successful. LeBron, Bryce, and Zhuri must never feel that money is always available. The basketball star insists that they should earn their own living.
Kevin O’Leary, the no-nonsense “Shark,” shares a similar approach with his kids. When traveling by air, he tends to fly first class while his kids Trevor and Savannah have to fly coach. When his son asked why this is so, he was told that they do not have any money of their own. Kevin does this to teach them about the personal freedom that comes with being successful. We’re confident it’s working!
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