Let your kids start to learn the art of entrepreneurship early in life as that will give them true wealth. Well, remember that making money by creating jobs and wealth is actual creation and is the true wealth.
Don't let your kids go into the mediocre mentality. As kids they are creative to the core, they can learn anything at an early age. If they are given a chance to learn entrepreneurship, they will surely win. On the other hand we make them disciplined with the result a lot of creativity is lost. I have seen a lot of parents making their children study and go in jobs where these entrepreneurs employ them. Well, I am also one of those who was employed in a Job. Not all are lucky to start something.
The biggest challenge is to make the first 100 thousand, save it and make it grow. I know of many a people who made 100 thousand and rather than growing it to a million, they spend that money away thinking that money will keep coming back to them. They need to invest in right instruments to earn money by compounding. Someone rightly said that working for money to an extent is working, and after that it is multiplying the money which happens once the cycle starts.