The relationship between money and work

Clinical Psychologist & Wealth Advisor Lee Hausner, PhD, shares advice for parents on how to teach your kids about money and the relationship between work and money
Teaching Kids About Money - Relationship Between Work and Money
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The relationship between money and work

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There are actually several ways that affluence can add a challenge. First, you want to look at what type of an individual becomes very affluent. Very often, it is a very strong, powerful, dominating personality. When children are being raised in families where both parents are very strong, it's much more difficult for a child to develop their own voice and develop their own sense of competency because there are always powerful adults around telling them what to do. That has a lot to do with the personalities of individuals that become affluent. There's another aspect about that also, and that deals with an individuals understanding of finances; the material aspect of the world. What I discovered is that if a child is raised in a middle class or a family that is struggling with money, they are much more aware that money is a finite object. In fact, they are much more involved in decisions about money. If we buy a new car, we can't take a trip. We can't afford a new car. If you want money, you are going to have to work. That kind of messages that occur where money is an issue. In a more affluent family, those conversations do not occur. What we find is that we get individuals who are really quite naive about finances and about the effort that it takes to be able to acquire those.

Clinical Psychologist & Wealth Advisor Lee Hausner, PhD, shares advice for parents on how to teach your kids about money and the relationship between work and money

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Lee Hausner, PhD

Clinical Psychologist & Author

Dr. Lee Hausner is an internationally recognized clinical psychologist, business consultant and family wealth advisor. She served as the senior psychologist for the Beverly Hills Unified School District for 19 years. She is currently the Senior Managing Director for First Foundation Advisors. An acknowledged expert on psychological issues involving wealth and wealth transfer, she was a presenter at the World Economic Forum in Davos-Klosters, Switzerland, and is a frequent participant at the high wealth/private client conferences for major financial institutions. She is a frequent guest on national radio and television and a quoted expert in national publications such as The Wall Street Journal, Times, Forbes, Fortune, Privilege, Town and Country and Worth Magazine.

Dr. Hausner is the co-author with Doug Freeman of A Founder's Guide to the Family Foundation, published by the Council on Foundations and is the author of the seminal work regarding wealth and the family; Children of Paradise: Successful Parenting for Prosperous Families. In addition, Dr. Hausner incorporated her unique six-step transition model for succession in family business in the critically acclaimed family business resource book Hats Off to You 2: Balancing Roles and Creating Success in Family Business, of which she was a co-author.

Dr. Hausner is a graduate of Northwestern University (BA, Psychology), San Francisco State University (MA, Psychology), and Kensington University (PhD, Psychology).

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