For most people, the idea of not having to work is a dream like winning the lottery. But for those who have inherited wealth, the experience can be just the opposite. Not having to work removes the single most important common element we share as human beings. Until you walk in the shoes of a wealth inheritor, it is practically impossible to fully understand the impact of money you didn't earn or create. The world looks with envy and lust for the power and privilege they believe money can buy. What they don't understand is that along with money comes incredible responsibility and obligation that can become overwhelming. In fact, without careful preparation, money becomes a burden that creates unhealthy dependency that blocks emotional growth. Most first generation wealth builders fail to realize that their decisions about money will have an impact for generations to come. The question is whether the impact will be positive or negative.
The opportunity and challenge of inherited wealth is to go from success to significance through wise and strategic use of family capital. To convert affluence into influence is a noble cause leading to a life with purpose and a life on purpose.
Inheritors face monumental challenges and pressures. Wealth provides choices but increased choice means complexity and more confusion. Because of money, your relationships with family members and professional advisors are very complicated. In fact, your wealth gives you the option of choosing to do nothing, which can be the worst choice of all.
- Will your affluence create influence or simply provide a lifestyle of luxury?
- Will your money give you happiness or weigh you down with the burden of guilt?
- Will simply giving your money away solve all your problems?
If what we have written here speaks to you, you should consider retaining Ownership Advisors for Family Wealth Counseling™ and Coaching services
