In most cases, millionaires don’t raise their kids with much financial support. UAWs tend to produce children who eventually become UAWs themselves. What is expected of children who are exposed to a household environment predicated
upon very high consumption, few-if any-economic constraints, little planning, or budgeting, no discipline, and pandering to every product-related desire? Like their UAW parents, as adults, these children are often addicted
to an undisciplined, high-consumption lifestyle. Further, these children typically will never earn the incomes necessary to support the lifestyle to which they have grown accustomed.
The Norths consume at a level that is more congruent with a household earning less than one-third of their income. This living below their means is precisely why PAWs throughout the income spectrum tend to produce children
who are economically disciplined and self-sufficient adults. PAWs tend to produce children who become PAWs.
1. Always focus on teaching discipline with money and the art of being frugal.
2. Never use cash as part of a negotiation, especially with your adult children.
3. Never see your children as competition.
4. Remind yourself that each one of your children is their individual, independent person.