Worried about family wellbeing or financial consequences because of the Coronavirus?
With the continued spread of the Coronavirus putting our oldest and most vulnerable at risk and with more and more of the world’s economy being shut down because of the virus mental health and finance has been brought to the fore.
The past 18 months have been filled with speaking and presenting in various forums around the globe on the psychology of Money and Wealth. During this time, the topic that was of main interest with the attendees revolved around the subject of preparing our children to be responsible custodians of the family wealth, family financial therapy and the issues facing parents in regards to successful wealth transfer.
In virtually all families, assets will be transferred from one generation to the next. Yet when those assets carry significant monetary value, as is customary within wealthy families, inter-generational conflict can often arise and develop into a serious issue. Careful thought and expert insight can mitigate the risk of conflict, enabling wealth transfers to lead to a harmonious and wealthy next generation who continue the family’s mission and vision.(more…)
Having a healthy relationship with money allows us to be truly free in our giving, whether it is through charity or any other form, and thus become philanthropists in a way that purely represents our love of mankind. Though many of us use the words charity and philanthropy interchangeably, their meanings are very different.(more…)