Don’t let your success ruin your children
For advisors working with wealthy families, the episode focuses on the interpersonal side of wealth transfer: understanding each family member’s goals and preparing the next generation for financial responsibility.
Summary
By the family offices deskThis video episode of What Should I Do With My Money? features a Morgan Stanley financial advisor and an entrepreneur discussing how families can pass on wealth without undermining children’s drive. It covers next-generation wealth planning beyond trusts and estate planning, including family conversations about values, expectations and a shared family mission.
- The discussion frames next-generation wealth planning as going beyond traditional estate planning.
- The advisor and entrepreneur talk about understanding what matters to each family member before creating a shared family mission.
- The episode covers open family conversations about wealth, values and expectations.
- Chapter topics include family mission statements, disagreement over money goals, a family bank, meritocracy and teaching children to invest.
Chapters
From the publisher’s description| Time | Chapter | Length |
|---|---|---|
| How to Pass On Wealth Without Killing Your Kids' Drive | 1 min | |
| Meet a Serial Entrepreneur Planning His Family Legacy | 1 min | |
| Dot-Com Crash Losses and the Scarcity Mindset | 1 min | |
| Turning Passion Into a Business and Finding an Advisor | 3 min | |
| Selling a Business and Estate Planning for Owners | 2 min | |
| How a Family Mission Statement Works | 2 min | |
| Generational Wealth and the First-Generation Dilemma | 3 min | |
| Why Money Magnifies Problems and How Purpose Helps | 3 min | |
| What If Parents and Kids Disagree on Money Goals? | 2 min | |
| Family Bank, Meritocracy and Teaching Kids to Invest | 4 min |
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Videos and podcasts are embedded from their publishers. Selections and summaries are editorial and are not investment advice.