Give with a Warm Hand—But Never Spoil Them

A note to young leaders. Lessons from my father.

On the vexed issue of whether to gift money to your children, grandchildren or loved ones (if you are in the fortunate position to assist):

“It’s better to give with a warm hand than with a cold hand [ie. while you are living rather than after you are dead].

But the trick is to give only to accelerate the development of their talents, to hasten their contribution to the world.

Fund their education, help them travel overseas, give them seed funding for a business – but don’t spoil them with cars or houses or holidays. That’s for them to do.

When they drive a nice car or enjoy a luxurious holiday, it should be a celebration of their success, not yours.”

My father went on to say that even if you gift correctly, your gift should not exceed 70%: “Let them pay for part of it. That way they’ll own it more, and appreciate it more.”