Solomon's plea to his son is to realize that all the riches of this world are nothing in comparison to getting God-given wisdom found in His Word. Parents need to realize that their children are not born with wisdom. Wisdom is something that has to be instilled into children. Proverbs 29:15 reads,
And may I suggest something: Why not start reading through the Book of Proverbs with your children once a month? It is really quite simple, and only takes about 5-8 minutes per day. Simply read the chapter from Proverbs that corresponds to the day of the month (e.g. Proverbs 8 on the 8th day of the month). You - and your children - will be glad that you did.