Financial PlanningHow To Promote Financial Values Across Generations
Every family we work with is unique. However, over the years, I have found one common denominator: all have built wealth through sacrifice, hard work, and a strong set of financial values that includes monitoring spending and prioritizing saving.
These values, coupled with a thoughtful investment strategy, have allowed many families to accumulate more wealth than they could ever spend in their lifetimes. As a result, a significant portion of this family wealth will be passed down to the next generation at some point in time, and many family leaders feel anxious about this wealth transfer: How will this wealth transfer impact family dynamics? Are the kids ready to assume the financial responsibility? Will they manage financial opportunities appropriately? Will the values that built this wealth live on?