True Family Wealth is about ensuring every member of your family feels enriched and supported. It doesn’t always mean supported just with money. One of the major components of building true family wealth is good communications among family members. Some families find it really difficult to imagine themselves meeting together to discuss issues, especially money […]
Being “rich” means little if you do not feel “enriched”.
Family and Money. Most of us think wealth is just money: the cash in our bank, the value of our home, or the size of our financial portfolio. Some people chase it; others hoard it or fear it. Money represents safety and security. We spend a considerable chunk of our lives trying to accumulate […]
Two strategies to create a family money culture that empowers your kids without creating entitlement.
As a Family Office, my team and I at First Affiliated work with families of considerable financial wealth. But as I describe in my book, True Family Wealth; Love, Money and an Inspired Life, financial wealth is not the same as True family wealth. True family wealth is achieved when every member of the family […]
Our Life Energy Quotient is the most important resource any of us has.
In my book True Family Wealth; Love, Money and an Inspired Life, I describe that regardless of whether we earn money, buy money, or were given money, we all have something in common. We are born, and we die. In between, we all have twenty-four hours each day that we live—we just don’t know […]
Without an investment strategy you’re only placing bets. And The Odds are Against You
There is a big difference between investing and, well, gambling and a disciplined investment strategy. On the surface, the difference may seem obvious, but unfortunately, all too often people don’t behave as if they know the difference. And it can cost them dearly. I’m teasing a bit when I say without a strategy you are […]
Giving your family the gift of financial literacy
Is this you? Do you have a spouse that leaves the financial decisions up to you? Do you worry what will happen when you are gone? Do you see your adult kids struggle with money and are not sure how best to help? Overcoming family financial ignorance empowers your family, preserves your wealth and […]
Kids, Parents & Money – Four financial conversations you must have to create and preserve family wealth and unity
As a seasoned manager of family wealth, Chris Clarke has seen families break apart when discussions about money take place. “It is a taboo subject, that many parents feel uncomfortable or fear to talk about with their children, until it’s too late.” Says Clarke. “Discussions about money and about family rarely happen in the same […]
Help your kids build their own personal power
I’ve written a great deal about thinking of your family as a business—not in the money-making sense but doing the tactical things that businesses do to be successful, which I call the Family Treasury ™ Model. Have a vision, goals, a strategic plan, assign roles and responsibilities, communicate. A model that takes the best practices […]
How to talk about money with every member of your family
How to Talk with your kids about YOUR Money This Family Day marks an opportune time to think about our adult children’s preparedness to inherit our wealth –whether a little or a lot. In my role as CEO these past 30 years of First Affiliated Holdings Inc., a family office organization, I have seen firsthand how […]
Family Celebrations & True Family Wealth
Part of Creating True Family Wealth & A Healthy Dynamic Team. Creating True Family Wealth begins with family celebrations marking milestones and accomplishments and is part of the fun of being together. As with any business, celebrations are used to create a cohesive unit within an organization. So too are family celebrations which are an […]