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You looking from TV and see that homeless people you think they born poor but it's not case i've met with many who use to drink and Party in Europe bahamas like 100-300k easy in one year and now they are broke.
Once the guys like joe Biden will go away their kids can't handle nothing maximum will be that they easy targets for foreign sharp minded people to take advanched of the situation.
For children, never teach them a luxurious and hedonistic lifestyle, they will be mentally damaged and become very wasteful with money, they will even sell the inheritance they got from their parents when they are addicted to a luxurious lifestyle. It is wiser if we teach our children to respect money, when they are not taught a simple lifestyle then they will suffer from "prince syndrome", usually someone who suffers from this syndrome will only experience a difficult life in his old age, he will fall into poverty and bankrupt.