Family Best Practices I Belfast I Familosophy
Do you know what the most priceless gift you can give your children is, as the head of a well-to-do household? In order to get an answer, the best thing to do is to ask (too many parents don't).
More than 90% of Millennials polled by Wells-Fargo said they want to inherit their parents' values, not their money, in a survey conducted by the firm. Some 84% of those polled said they wanted to continue and expand on their family's legacy. This is fantastic news for parents everywhere.
Before, in a previous newsletter, I talked about the value that families can have on educating and connecting their children. In other words, money isn't everything.
80 percent of children polled said that their parents' charity matches with their own values, but 40 percent said they would like to have a greater role in the decision-making process.
The results of the poll indicate how important it is for members of a family to talk about money and legacy, as well as how knowledge may be passed down in both ways.
Take a moment to think about this: Why don't you ask your children about what they think of the money in the family? What do they value most in their lives? Talking about things like that can be difficult. If you don't give them the space they need, you won't be able to hear them.
Are you looking for advice on how to make your family business in Belfast operate better? David Werdiger is the number one choice when it comes to Belfast family owned business protocol help. Mr. Werdiger is helping hundreds of family owned businesses pass the torch using his famous Belfast Familosophy techniques
His market is two-fold:
Scenario #1: The older generation wanting to work with the younger generation, bring them into the company, teach them how to run things, and then retire from the office, but not the income
Scenario #2: The younger generation wanting to jump into the family business, but to be able to contribute and be heard, and not having to “wait their turn” before they can begin to help run the business.
Looking for great advice for your family-owned and family-run business? Find out how David Werdiger’s Familosophy Newsletter can help answer your questions and guide you through turbulent times. To subscribe go to https://www.transitionbook.co/transition-membership-sign-in
Visit David’s Website at: https://davidwerdiger.com/ or his GMB site at: https://goo.gl/maps/YiKUeBhXzapPAYyP6
SOURCE: https://davidwerdiger.com/2021/07/your-children-value-this/