Are You Your Family’s Bank? – Episode #15
The High Worth $hift™ by Robin A. Young, CFP®
Episode notes
This episode provides clarity on the giving conundrum of high-income earners.
First-generation high-income earners are fulfilling the American dream of becoming upwardly mobile.
However, being the first in the family to earn a considerable salary can have an unexpected consequence
You can become the bank to those family and friends who earn less.
High income earners often have “Income Guilt,” which is a response to earning considerably more income than others who earn less.
Once you’ve given and given…
Once you realize that you may be the family’s bank, then resentment builds
First-generation high-income earners often vacillate between feelings of guilt and resentment regarding their giving.
Have you ever considered the true results of ...