Additional Coverage:
- I founded a bike company and have built my net worth to $30 million. Leaving too much money to my sons would make their lives less rich. (newsbreak.com)
Ryan McFarland, father of two, created Strider Bikes after his son Bode wanted to ride a bike at age 2.
McFarland’s sons, Bode, 21, and Jesse, 18, now work at Strider, but they report to other managers and are treated like any other employee.
McFarland believes his sons need to face challenges and consequences to develop decision-making skills. He provides a safety net and business loans, but they must contribute their own money and effort.
The family has established a trust that will assist with education expenses, but the sons will not be financially supported beyond that.
McFarland hopes his sons will start their own businesses and return to Strider in the future. He believes the business has provided them with valuable experiences, including seeing the impact of charity through the Strider Educational Foundation.