Money is a wonderful thing. It provides you with financial security and an opportunity to enjoy experiences that few people can. Is financial wealth everything though? No, of course it is not. In a family context, wealth is so much more than money. To better understand what we mean, consider what families say are their three biggest concerns:
1. Affluenza in children or grandchildren
1. Affluenza in children or grandchildren
American affluence is wonderful....but it does come with its fair share of problems. Consider the link between money, productivity, and work. Do you remember working while in high school? Do you remember buying your first set of clothes with your own money? Do you remember the first time you paid for lunch or dinner for your parents? That experience is a source of pride to most of us. But consider this frightening statistic: teenage employment in high school has decreased by nearly 33% when compared to those who graduated high school in the 70's and 80's.
Without work, it is difficult to understand money and money's worth. Do you want your children and grandchildren to have your values about money? Do you want them to learn money management skills? The Family Bank can help.
Without work, it is difficult to understand money and money's worth. Do you want your children and grandchildren to have your values about money? Do you want them to learn money management skills? The Family Bank can help.
2. Making a difference
Do you sometimes look at the relationships you have with your children or grandchildren and wonder what it will be like when they get older? Will they move out of the city? Heck, will they move out of the country? And if they do, what will your relationships with them be like then?
The Family Bank can help. Through the tools and systems we have developed, you can bring your family together...and can keep those relationships active and engaging.... through a family tradition around shared-charitable giving. Not only will you foster a family ethos of helping others, but you will be creating a legacy that can last for generations.
The Family Bank can help. Through the tools and systems we have developed, you can bring your family together...and can keep those relationships active and engaging.... through a family tradition around shared-charitable giving. Not only will you foster a family ethos of helping others, but you will be creating a legacy that can last for generations.
3. Building financial wealth
Have you ever thought about how much you will earn over the course of your career? If you are in the top 10% of households in America, your family income is at least $133,000/year. Over a 40-year career, you will have earned $5.32 million dollars. And that is on the low end.
How many families - families that will earn millions of dollars - will plan, save, and invest appropriately to fund their children's college expenses and their own retirements? If history is any guide, the answer is "Very few." Part of the problem is due to how most families tend to save and then spend down their savings...again and again...over the course of their lives. Not only does this deplete your savings, but it causes you to lose-out on the incredible potential of the compounding interest that may have been earned on those dollars. Those mistakes can cost you tens of thousands, hundreds of thousands, or even millions of dollars. What if there was a better way?
There is. And the Family Bank can show you how.
How many families - families that will earn millions of dollars - will plan, save, and invest appropriately to fund their children's college expenses and their own retirements? If history is any guide, the answer is "Very few." Part of the problem is due to how most families tend to save and then spend down their savings...again and again...over the course of their lives. Not only does this deplete your savings, but it causes you to lose-out on the incredible potential of the compounding interest that may have been earned on those dollars. Those mistakes can cost you tens of thousands, hundreds of thousands, or even millions of dollars. What if there was a better way?
There is. And the Family Bank can show you how.
The Solution
Financial wealth, affluenza, and the desire to leave a legacy have one thing as their foundation - your values. As a result of this insight, we created the Family Bank. Our five-step process exists as a unique, values-driven approach to building family wealth.
The Family Bank program allows you to:
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The Family Bank program allows you to:
- Use banking strategies to build significant wealth for the use and benefit of your family.
- Teach family members money management skills and a respect for money.
- Foster positive family interactions and support a family tradition of thoughtful charitable giving.
Schedule your first meeting!
“Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.”