Networks - Rising Gen

It is often thought that financial success comes with a certain level of financial freedom: the freedom to pursue passions, to take risks, to give back, and to make an even bigger impact.

The 2018 U.S.

On the journey to obtain independence and achieve financial success, the priorities usually include having a good educational experience, a sound resume and a career with a nice salary. That journey will likely contain u-turns, bumps and dead ends.

The odds of sustaining wealth across generations are low, and studies show that less than three percent of failures stem from poor estate planning and poor investment returns.

Research tells us communication is the most essential ingredient for sustaining wealth across generations. But, cross-generational communication can be particularly challenging, especially within families of wealth.

Family connectedness, not money, has the greatest influence on multi-generational family continuity. But when many think about legacy, it’s often in the context of multi-generational financial wealth.

Succession planning for a family business inevitably requires planning for the transition of the management team. This transition presents several challenges, including dealing with non-family managers and with a family member who is not suited for a leadership role in the business.

The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this episode, Ginny highlights what family business is and common trends in the work she has been in for over 30 years.