What Do We Mean By “Success?”

In raising this question, parents (and grandparents) seem to be concerned that inheriting “ wealth, ” or even growing up in a wealthy family, may make it more difficult for children to become “successful” adults.   Let’s examine what that means.
What is meant by “successful?”

Parents naturally want very much for their children to be one or more of the following:

¨ Financially successful, or at least secure

¨ Powerful, or at least not powerless

¨ Ambitious, or at least diligent

¨ Philanthropic, or at least not selfish

¨ Happy, or at least satisfied

Which of these is the most important if they cannot all be achieved to the same degree?

To illustrate the point, let's look at how people value particular activities or careers for young adults.  Consider the following  Scenario: