Advice and Support for Family-Run Businesses I Belfast I Familosophy

Consider the Following: What is the best way to communicate your family's wealth to small children? Where do you begin this process? How can you say 'no' and impose spending constraints on them when they respond, "but we can afford it"?

Affluenza and entitlement-itis are two of the newest 'diseases' afflicting the wealthy, and there's always the ubiquitous 'privilege' that practically everyone is now required to check.

Rachel Sherman, associate professor of sociology, interviewed 50 affluent parents in and around New York City for her book Uneasy Street: The Anxieties of Affluence.

They are divided between the stigma associated with riches and the competitive atmosphere in which they find themselves. While parents want to provide their children with the opportunities that come with affluence, they also want to keep them 'normal' and able to interact comfortably in (and be accepted by) broad social circles.

While 'tough love' is necessary to prevent pampering, it is equally necessary to teach children to be comfortable with money and to enjoy the benefits it brings. Accept it, but do not assume it.

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/2021/05/wealth-entitlement/