Nothing happens without relationship. Our goal should be to spend time with our children to build a stronger connection and grow our relationship. Enter your child’s world and grow in your understanding of their values, interests, and preferences. Allow them to be themselves. At some level our child’s world differs from ours, perhaps drastically. Our priority is to love and support our children unconditionally even if their values and beliefs differ from ours.
The recent Olympic 4 x 100 men’s relay is a great metaphor for family wealth transfer. You can have great team members but if the baton is not transferred well, you will have a disappointing finish. Are you and your heirs prepared for the hand off?
An irony of life is we do not know when it will end. Yet we typically live as though it won’t. Don’t assume you have a lot of time to work on the items required to finish well.
If we slow down enough to consider what we value most, we recognize that loved ones and relationships are our most valuable assets.
The recent federal budget had enough changes that I want to give you a summary of the key items that could impact higher net worth families. Here’s what you need to know.
It is hard to walk the fine line between using our money to bless our kids and over doing it such that our financial blessing starts to become a curse. Consider these three steps to keep your money from wrecking your kids.
The demands of all the urgent things in our life keep us from focusing on the important things. After nearly 30 years providing financial advice, I believe the following four questions are the most important to ask. These four questions, if properly answered, will change your financial future and likely the health of your family relationships.
I find it interesting that we have a natural discernment of how much is enough for many aspects of our life. This includes the dinner table, although the Thanksgiving dinner table often pushes the limits to that natural discernment, it also includes our limits when grocery shopping or even exercising.
If you believe, as I do, that true wealth is made up of more than just money then you are much, much wealthier than you think. The key to enjoying your wealth is found in these simple steps:
• Stop
• Look, listen, feel, smell, taste
• Enjoy
