Merrill Lynch Tells Wealthy Parents How to Not Spoil Their Kids: Leave Them Only $26 Million to $63 Million
‘In a white paper called “How Much Should I Give to My Family? On the risks and rewards of giving,” Merrill Lynch reveals America’s wealthiest investors believe $26 million is too little to leave to an individual child, but that $63 million is too much.
“Wealthy families may be painted in broad strokes, and not always in a positive light,” Merrill Lynch’s report alleges, following up with a nod to Leona Helmsley: “The media tend to take absurd headlines such as ‘Heiress Leaves Millions to Poodle’ and portray these attention-grabbing outliers as the norm”’
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