For the successful family, at what age is it appropriate to teach your children about your family’s wealth, and more importantly, the responsibility that such wealth carries with it? My view, is you start the process at as early an age as possible. Why? You engage your children with the concept that wealth carries with […]
Read MoreAs the leader of your enterprise, what is your focus? Are you single mindedly working on achieving the long term strategy of your enterprise? During this journey, do you occasionally pause to: – measure the enterprise’s progress to date on the strategy – consider how you define success – course correct the strategy as needed […]
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Succession is all about passing on all of your harvest resulting from your hard work to the next generation or to your chosen heirs, whether or not they plan to continue on the business as its future leader. Some questions you may ask yourself: – Will your children be interested in the business and the […]
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Do you hold digital assets? Time to get organized as these can be lost in cyberspace. A @NYTIMES article here, Cryptocurrencies lost article. Also, hiding cash under the mattress may also not be the safest way to keep your wealth safe, https://www.nytimes.com/2024/06/08/business/cash-at-home-retirement.html The value being accumulated in these cyberassets has been increasing and becoming more complicated. […]
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We will take a small detour today from comments directly around succession. I counsel all that I speak with, who are contemplating retirement and ultimately the passing of their business, their assets, their life insurance and their liabilities. Most of our lives are complicated, so much so that often, you are the only one that […]
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