Whether your goal is financial literacy, personal growth, or preparing for transition into leadership, having a clear plan to gain the skills, knowledge, and experience you need is essential. Understand components of an effective plan to help align your learning with your values, goals, and ambitions.
In this highly interactive and engaging professional development session, we will focus on communication and interpersonal skills that can be utilized to raise our self-awareness around behaviors and personality. By exploring these key skills, we will gain an understanding of how to better connect and interact with colleagues and clients.
Families blessed with significant financial resources can make an amazing and long-lasting impact on the world. But that wealth can also lead to disagreements, grudges, and hurt feelings. Trying to hide from the conflict does not make it go away. The best thing a family can do is create a culture of open, honest conversation about the impact their wealth can have, as well as the pitfalls. Communication is therefore one key factor in sustaining wealth for generations.
Moving from home to college is a rite of passage that requires a teenager to assume more responsibility for their actions and requires a parent to respect their child's budding independence. Before college-bound teens make the move, there are important factors families need to fully consider regarding their children’s personal safety, health, liability, and financial risks.
College years can be an exciting time for young adults, as they get their first taste of independence and being self-sufficient. However, the responsibilities of coming-of-age also comes with significant risks. Parents can help their college-bound children by following essential tips on reducing risky driving habits, managing cyber threats, and building a healthy financial lifestyle.
Over the past decade, matriarchs and patriarchs of successful families have been shifting their focus from their children to a broader group of individuals, such as grandchildren, siblings, and nieces. Often, they choose to create family banks, which are typically trusts that are funded to help individuals pursue entrepreneurial opportunities, venture philanthropy, and knowledge in a structured and more-likely-to-succeed manner. Family banks can be customized to fit a family’s agenda, and the risks inherent in family banks can be thoughtfully managed.
When initiating charitable work, it is important to remember that a foundation is also a business that requires developed governance practices. As Bill Gates said, “Effective philanthropy requires a lot of time and creativity. The same kind of focus and skills that building a business requires.” The processes and procedures that comprise effective governance can harness the best of the family dynamic and help promote adherence to complex regulatory requirements.
The headlines were hard to miss: wealthy parents and coaches indicted on federal charges in a college admissions bribery scheme. Over 50 people, parents and higher education professionals, were charged with “racketeering conspiracy”—cheating to get kids into elite universities. The case is a cautionary tale reminding us that there are consequences to breaking the law. But there is another message for parents everywhere: It is a reminder that doing more is not always the best you can give your child. Sometimes doing less is.
Doug Balfour, author of Doing Good Great: An Insider’s Guide to Getting the Most Out of Your Philanthropic Journey, and Pat Armstrong of the Abbot Downing Institute for Family Culture discuss best practices for engaging in philanthropic activities as a family. Both believe that while each family’s questions are unique to their individual circumstances, there are common themes and patterns associated with the exploration of the “why” of their giving as well as the evolution of their philanthropy.
People, by nature, are born to judge and make judgments about others as well as themselves. Understanding each other through Real Colors® and knowing what makes each other tick regardless of, and separate from, each person’s relationship with the family of wealth or the family business, is eye opening for families. Real Colors® is a “rite of passage” for accepting others for who they really are and it provides a means for making critical family decisions (including financial decisions).