3. How do families support their members to build healthy and empowered relationships with wealth?
- They are intentional. They neither use it with destructive carelessness nor pretend is doesn’t exist. They choose to accept both the advantages and the responsibility of wealth and to create a plan for the family money
- A focus on future generations. Successful families make a deliberate choice to train family members in stewardship and responsibility
- Open communication. Families who are able to talk about problems are the ones most likely to be able to solve those problems, and family members who communication well builds closer relationships. It is especially important for wealth creators to be open about their desired legacy and be an advocate for the voice of the next generation.
- Creating a family identity. A clear sense of what the family stands for, articulated in a family mission or purpose statement, provides a foundation for decision making