I often think the worst thing you can do to your kids is leave them a fortune. I’ve seen so many rich kids end up in similar circumstances. They never had any missteps allowed to build character, got bailed out of everything, and had plenty of cash whether they earned it, saved it, or pissed it away like a fool.
That is true in some cases. I know some “old money” people. Third generation and beyond type “old money.”
Some are about a nice and sensible as you could want. Some are not. I think the first and second generation is the on-the-bubble period.