A man from Shaoxing, Zhejiang province, revealed that despite winning the Grand Lotto jackpot in March, his children remain unaware of their family's newfound wealth. He stated he wasn't overly emotional about the large sum. "I wasn't too excited; I just didn't expect such immense luck to come my way," Mr. Wu said.

Mr. Wu receives his prize in Zhejiang province, China. Photo: QQ

Mr. Wu has two children, including one son in middle school, a crucial age for character development and forming life values. He plans to use the winnings to enhance his family's life and support his children's education, but he has not yet disclosed the information. "I don't want my children to think that life can be successful by taking a shortcut like winning the lottery," he explained.

Delaying the disclosure of significant wealth to children is not uncommon among families who suddenly acquire large sums of money.

On the US financial radio program The Ramsey Show, expert Dave Ramsey once recounted the story of a man named John, who won 22 million USD in a lottery but chose to keep it secret from his two teenage children. "I don't want my children to grow up thinking they just have to wait for their parents to die to inherit wealth," John stated.

Dave Ramsey believes that initial secrecy can help parents prevent their children from developing a dependent mindset towards readily available assets. He noted that money only holds true educational value when coupled with responsibility and effort.

Robert Pagliarini, director of Pacifica Wealth Advisors, a wealth management consulting firm in California, US, expressed similar views in his writings. After 20 years of working with individuals who received substantial sums from lottery wins, inheritances, or business sales, he observed that the biggest challenge often isn't the money itself, but rather the family members' struggle to adapt to their new circumstances.

Pagliarini noted that many clients worry about children accessing wealth too early, which can diminish their motivation to strive. "It's not just about leaving money; it's also about preparing children to manage and use that money," Pagliarini emphasized. He advises families to dedicate more time to teaching their children about the value of work, financial responsibility, and decision-making skills. According to him, preparing them mentally is as crucial as preparing them financially.

For Mr. Wu, the decision to keep the approximately one million USD prize a secret stems from his desire for his children to continue believing that the life they aspire to must be built through their own efforts.

By Ngoc Ngan (According to Sina News, The Paper, QQ)