What is Wealth for?
Families or family members who believe wealth is of intrinsic value |
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Families or family members who believe wealth is of instrumental value |
Need:
- Income stream to support family
- Confidence that other meaningful activities will be available
- A family legacy independent of wealth story
- Time and process to adjust to change
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NEEDS |
Need:
- Income stream to support family and other activities
- Process to hear other family members’ perspectives on value of wealth
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Typically have:
- Tenaciousness and commitment
- Influence in family
- Cooperation of others
- Motivation to protect family members and family
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CAPACITIES |
Typically have:
- Objectivity Ability to quantify needs accurately
- Willingness to let go
- Willingness to take action and involve outsiders in process
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But may be constrained by:
- Lack of objectivity
- Need to “hold on”
- Obligation to family, either real or illusory
- Fear of loss
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CONSTRAINTS |
But may be constrained by:
- Unwillingness to acknowledge family legacy
- Irresponsibility
- Not being on the same page as family
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Bloomberg Press Copyright 2009 Cultivating Change LLC and Gwen Griffith. Adapted and used with permission.