The development of the next generation is key to healthy succession, because as we all know, financial success presents both opportunities and challenges. The key is learning how to use money as an empowering tool for the next generation, so they are able to lead fulfilled, content and harmonious life. If they do that, they run their lives. If they don’t, money runs their lives.
Dr. Lami believes that we all have relationships with money, whether we know it or not. The problem starts when children develop an unhealthy relationship with it, which can sabotage their feeling of happiness, as true happiness can’t be bought with money. Instead, happiness comes from nurturing our inner being, or our ‘inner wealth’.
Families have the responsibility to develop the mental, emotional and intellectual aspects of the next generation. Without careful preparation, the next generation may feel incapable of handling the responsibilities they face. Their fortunate position may seem a burden and something they even feel guilty, or uncomfortable about.