The Collapse of Parenting: How We Hurt Our Kids When We Treat Them Like Grown-Ups

by Leonard Sax

Let’s talk about money. What factors at 11 years of age predict who’s going to be earning the most money at age 32? Who’s going to be in financial distress? (Incidentally, those are two separate questions. How much money you earn is not a reliable predictor of whether you will be in financial distress. People earning $300,000 a year are somewhat less likely to be in financial distress compared with people earning $50,000 a year, but only somewhat. Regardless of income, it’s often a struggle for people to live within their means.) Once again, the trait of self-control as measured in childhood predicts adult wealth with uncanny accuracy. Likewise, the lack of self-control in childhood predicts a higher likelihood of financial distress when that child grows up to be an adult.