We are centimillionaires. Here are the biggest money mistakes we made with our kids — and how we fixed them.

Bobby and Sofia Castro, center, have changed the way they approach money with their children by increasing transparency — and responsibility.

Courtesy of Bobby and Sofia Castro

• Bobby and Sofia Castro made nine figures building a financial services firm and a real estate portfolio.
• For years, they struggled with how to talk to their children about money.
• Here's how they built a plan around wealth and inheritance, and how that improved their family dynamic.

This...