As someone who grew up in a working class household where my parents made ends meet paycheck to paycheck, the concept of a trust fund is a bit foreign to me. While they worked hard to make sure I had everything I needed in the areas of food, clothes, extracurricular activities, and a good education, I never expected to inherit a giant sum of money. Or any sum of money. My future financial success was going to result from my hard work — and I’m grateful for having learned that lesson.
That’s not to say that children who inherit a trust have no work ethic, as I am sure many do. Some may save their trust fund, invest it for their own kids’ futures, or make smart business deals with it. But it’s still there — a nest egg to fall back on. However, some parents who do have the financial means to provide that security say no way. Not my kids. My kids will have to work for their own money, even though I have a lot.
Well, two of Hollywood’s favorite parents are raising their kids under this exact principle. Mila Kunis and Ashton Kutcher made headlines recently when they declared that they won’t be leaving their kids, 3-year-old Wyatt and 15-month old Dimitri, a trust fund.
“I’m not setting up a trust for them,” Kutcher revealed in Dax Shepard’s podcast Armchair Expert. “We’ll end up giving our money away to charity and to various things.”
The actor/actress duo has made news for their often unconventional parenting before (well, unconventional by millionaire standards, anyway). Kunis has shared in the past that Christmas in their house is full of happiness, traditions, and memories — but no presents for their kids. And in another interview, she revealed that both she and Kutcher grew up poor, so they very much value money and hard work. They are raising their kids to understand that Mommy and Daddy have money, but they don’t. So they’d better work for their own.
The couple is also known for their commitment to various charities and causes, including Kutcher’s website Thorn, which fights against sex trafficking, and Kunis’s support of women’s rights around the world.
Kutcher did share in his podcast interview, however, that he’d consider investing with his kids.
“If my kids want to start a business, and they have a good business plan, I’ll invest in it. But they’re not getting trusts,” Kutcher says.
In other words, he and Mila plan to give their money to those who need it. And their kids don’t.
Sounds like these kids are growing up as grounded as possible, despite their parents being two of the wealthiest people in America. And kudos to them, because this parenting gig is hard — whether you’re rich or not. We are all just trying to raise good humans.