When wealth owners are asked what challenges them most, their first answer is frequently, “helping my children become productive adults.” Parents want their wealth to be a source of satisfaction and opportunity for their children and want to ensure that their children are prepared for the responsibilities that come with wealth. Getting this right is not easy, but those who have committed to educating the next generation will tell you that the return is well worth the investment.
Where Do I Begin?
- What are the goals of the family and how can education help support these goals?
- What key skills do family members need to develop?
- What behaviors do you want to encourage?
- What values do you want to instill?
- Understanding of family virtues, values and history
- Basic financial fluency (e.g., income statements, balance sheets, personal accounts, and the skills of saving and investing)
- Awareness and understanding of legal duties and rights as individuals
- Ability to make competent decisions in tandem with financial advisors
Designing an Effective Family Education Plan
Identifying Resources and Programs
- Financial Education Resources feature games, books, curriculum, and activities for teaching children and young adults,
- The FOX Knowledge Center features whitepapers, research studies, and multi-media materials devoted to the issues of most concern to FOX members.
- Recommended Reading List, a selection of books on a variety of topics, including family wealth and purpose, family culture and governance, parenting, family business, investing and financial management, and philanthropy.
- FOX Learning Programs