Pity the poor rich

Rich Kid Syndrome: America’s burgeoning money culture is producing a record number of heirs -- but handing down values is harder than handing down wealth. (Jennifer Senior, New York magazine)

"Almost everyone who’s ever worked with rich children or their parents has a making-the-bed story. It’s a chestnut, a cliché almost, a cautionary tale about the first twinkle of entitled behavior in a lifetime of potential cupidity, and it goes something like this: Mom wanders into the bedroom, notices her child’s bed is still in a rumple, and asks the child to tidy it up. The child, usually about 7 and suddenly wise to the hidden economy of the house, replies, “That’s not my job. She’s paid to do that,” and points to the housekeeper. Susan Bradley, founder of the Sudden Money Institute, once ran a forum for wealthy parents at which one of them reported that their child was paying the housekeeper to make his bed. “And everyone thought this was hilarious and very enterprising, showing early business capabilities and that kind of thing,” says Bradley."