Those who withhold from the treasury of God and hoard their means for their children, endanger the spiritual interest of their children. They place their property, which is a stumbling block to themselves, in the pathway of their children, that they may stumble over it to perdition. Many are making a great mistake in regard to the things of this life. They economize, withholding from themselves and others the good they might receive from a right use of the means which God has lent them, and become selfish and avaricious. They neglect their spiritual interests and become dwarfs in religious growth, all for the sake of accumulating wealth which they cannot use. They leave their property to their children, and nine times out of ten it is even a greater curse to their heirs than it has been to themselves. Children, relying upon the property of their parents, often fail to make a success of this life, and generally utterly fail to secure the life to come. The very best legacy which parents …
"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."
Both passages warn against the dangers of the love of money and its potential to lead to spiritual ruin.
"Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal: For where your treasure is, there will your heart be also."
Both passages warn against prioritizing earthly wealth over spiritual riches, and the potential harm this can cause to oneself and one's descendants. The EGW passage expands on the principle outlined in Matthew.