A few weeks ago, I sat across from a second-generation client. She had just inherited significant assets – multiple properties, shares in a few companies, and access to her family’s philanthropic foundation.
She looked at me, wide-eyed and nervous, and asked:
“So… what do I do with all this?”
That question stuck with me.
Not because she wasn’t intelligent – she’s brilliant. Ivy League background. Sharp. But like many others, no one had ever walked her through the “how” of wealth. Not the structures. Not the risks. Not even the day-to-day decisions tied to money and responsibility.
This isn’t an isolated case.
Across the continent, families are working hard to build wealth – but far fewer are preparing the next generation to manage it. Financial literacy is often assumed, not taught. And that’s the problem.
What We Often Miss: Wealth ≠Literacy
In many African homes, money talk is minimal. We hear things like:
“You’re too young to worry about that.”
“Face your books – you’ll learn all this later.”
“They’ll figure it out when the time comes.”
Except they don’t.
Wealth literacy is beyond about academic excellence and it is not even about earning power. It’s a layered understanding of how money works, how assets should be structured, and what it means to be a steward – not just a beneficiary.
The result of skipping these lessons is often times confusion, conflict and sometimes, complete erosion of wealth in a single generation.
Start Early & Teach Often
Financial literacy cannot be a one-time conversation, workshop or a worksheet. It has to be a mindset – and a habit – that needs to evolve with age and life stages.
Here’s how we’ve seen it work best:
Ages 6 – 10: Keep It Simple
Let them manage pocket money. Save for something they want. Earn a small reward. With them, talk about choices, delayed gratification, and basic value exchange.
Lesson: Money comes from work. Saving lets you buy big things later.
Ages 11 – 17: Introduce Value Judgments
They’re exposed to brands, trends, peer pressure – use this time to discuss needs vs. wants, cost vs. value. Teach them how bank accounts work. Talk about debt, not just in fear terms, but as a concept. Encourage saving habits with simple rules (like the 50-30-20 split).
Lesson: It’s not about how much you have – it’s about how you use it.
Ages 18 – 25: Ground Them in Reality
This is when things get real. First income. Rent. Expenses. This is the time for lessons in budgeting, taxes, lifestyle creep, and financial boundaries. Introduce concepts like compound interest, emergency funds, and investment basics – not through fear, but through clarity.
Lesson: Start small. Stay consistent. Future-you will thank you.
Ages 30 – 45: Talk Structure
These are often the peak earning years – but also the most financially stretched. Mortgages. School fees. Aging parents. Investments. Now’s the time to learn seriously about trusts, asset protection, and long-term planning. Too many people own assets without clarity on how they’re held – or what happens if something changes tomorrow.
Lesson: You’re not just earning for today – you’re building for tomorrow.
50s and Beyond: Focus on Succession
This is legacy season, but the conversations many avoid – around inheritance, decision-making, or family governance – become crucial now. If your children or heirs don’t understand the vision, values, or structure of what they’re inheriting, what exactly are they inheriting?
Lesson: If you don’t guide them now, someone else – or the courts – will later.
The Real Issue Isn’t Money – It’s Preparation
We often ask, “Why don’t our children know how to manage money?”But maybe the better question is: who taught them?
Or, more honestly: who taught us?
So many of us are first-generation earners and builders. We’ve had to learn through missteps, scarcity, or watching others fail. But this generation has an opportunity to change that.
Whether you’re a parent, a sibling, an advisor, or an elder in the family, your role is clear: don’t just build for the rising generation – build with them.
Let them hear the conversations. Let them make small mistakes early. Let them grow into the responsibility, not stumble into it.
Because in the end, a well-structured estate with a poorly-prepared heir is just a delayed crisis.
