Bridger PenningtonFund Launch & Investment Expert

Millionaires Kids Are Sad | Bridger Pennington

10 Nov 2023 · 1 min

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In this brief dialogue, Speaker A shares observations from meetings with family offices that manage wealth for second- and third‑generation heirs. He notes a recurring pattern: many of these affluent young adults experience deep depression, stemming from a sense that their success is not truly their own because their parents funded the initial ventures. This perceived lack of personal achievement creates an identity crisis and emotional distress, which Speaker A frames as one of the greatest disservices a parent can inflict—providing abundant wealth without fostering independent accomplishment. Speaker B interjects with a light‑hearted, unrelated comment about driving to a plane, serving as a conversational segue rather than contributing substantive content.

Chapters

I get the opportunity to meet with a lot of family offices that are very wealthy people. I meet with the Gen 2 or Generation 3, and what happens is a lot of them are depressed. It's actually really sad. And you drive down to like, where is this sadness coming from? Yeah, they're multimillionaires, whatever. But even if they do good with the money, they never felt like they did it themselves. In the back of their brain, they know dad helped fund their original thing and got them off the ground and got them moving. They didn't really make it themselves. This drives in there and gives them a deep level of depression. I think it's one of the greatest disservices you can do to your child is give them lots of money and wealth and other things.
Why don't you get in my car and we'll drive you to the plane, and then you can relax.