Welcome to Straight Talk. We at Legacy Legal and Family Legacy Trainings appreciate your enjoyment of our weekly insights on Building Generational and Family Wealth in California.
PLEASE SAVE THE DATE: Saturday May 4, 2013. 9:00-3:00
We will be conducting a one of a kind interactive workshop along with renowned family business advisor and executive consultant Ken Druck who has national acclaim in his work with family and business transitions. Ken’s book the Real Rules of Life is recognized around the world.
Building Generational Wealth for your family is about more than just money. It is about wealth in values, beliefs and traditions. What are some of the things you need to know in building generational wealth.
What makes a person a generational wealth builder. Who are they? Where do they live? What do they do for work? Where do they like to go for vacation? What traits lie in the Generational Wealth Builder that each and every one of us can emulate? I have reproduced below a table which compares and contrasts different traits of people in how they approach the thinking of building generational wealth.
A GOOD GENERATIONAL WEALTH BUILDER LISTENS (IS OPEN TO FEEDBACK)
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HIERARCHICAL: Strong on efficiency, clarity of authority, respect for seniors. Problems with resentment by subordinates. underutilization of talent of less powerful
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DEMOCRATIC: Strong on participation; feeling of empowerment. Problems with low efficiency, slow speed of decision-making, frustration with veto power of disruptive individuals |
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| VERTICAL: Strong on branch identification and loyalty over generations. Problems with creating sense of the whole extended family, healing sibling grievances | HORIZONTAL: Strong on generational identification and loyalty across branches. Problems with maintaining a legacy, admitting a younger generations to authority without revolution |
| ENMESHED: Strong on intimacy, creating a sense of belonging and mutual support. Problems with independence, privacy and separation | DISENGAGED: Strong on self-reliance, adventurousness, independence. Problems with loneliness, sense of disconnection |
| AFFECTIVE/EXPRESSIVE: Strong on recognizing expressing and using emotions. Problems with impulse control over reliance on intuition. Long recovery time from conflict. | COGNITIVE/RESERVE: Strong on decision-making, avoiding conflict. Problems with unexpressed feelings, experiencing the pleasure of accomplishments. |
A GOOD GENERATIONAL WEALTH BUILDER IS WILLING TO EXPLORE NEW IDEAS.
MOST PEOPLE WHO PREPARE AN ESTATE PLAN, THEY STICK IT ON THE SHELF AND FORGET ABOUT IT. SO IT SITS ON THE SHELF COLLECTING DUST. LIFE DOESN’T STOP PRESENTING US WITH CHALLENGES JUST BECA– USE WE CHECKED SOMETHING OFF A LIST. THEN SOMEDAY ARRIVES AND WE ARE SURPRISED TO FIND OUT THINGS ARE FAR FROM THE WAY WE THOUGHT.
A GOOD GENERATIONAL WEALTH BUILDER HAS DISCIPLINE
DISCIPLINE IS THE BRIDGE BETWEEN THOUGHT AND ACCOMPLISHMENT, BETWEEN INSPIRATION AND ACHIEVEMENT, BETWEEN NECESSITY AND PRODUCTIVITY.
There are of course many other traits that make-up good generational family wealth builders. We are open to sitting down with you and discussing these other traits and how you too can become a generational wealth builder. We are experts in guiding you in Building Your Generational Wealth. Our team has the right knowledge, the right experience and we deliver quality that is right for you.
Thank you for being a part of our Straight Talk community. We educate, transform and inspire business owners and families in changing the way they think and talk about wealth in money, values, beliefs and traditions. By Uniting, Aligning and Nurturing your common purpose and vision you can preserve and protect wealth and leave each generation accomplishing clarity year round. Legacy. What is your Legacy?
We welcome you to share your ideas and thoughts.
