Got Trust Fund Kids? You’d Be Surprised!
As promised, I’m telling you about my lunch meeting with Doug Freeman, founder of IFF Advisors, LLC, which counsel ULTRA-HIGH net worth families. That’s those with $50,000,000 and more.
No, that was not an extra “0″ - that would be 50 MILLION. He works with their kids to prepare them to receive the wealth they’ll receive.
I’ve seen what happens when “trust fund kids” are not prepared to receive the wealth they’ll receive.
They become entitled, which results in not appreciating anything. They are overwhelmed by too many choices and can’t make decisions.
They are plagued by “I don’t know what I want” and “I should be happy, but I’m not and I can’t figure out why.”
And, here’s what’s going to shock you:
You very well might have a Trust Fund Kid even though you don’t have $50,000,000.
And, if you aren’t giving your kids the same kind of preparation that they are, your kids are in for a sore surprise and a miserable life when they blow through the million or two or ten you are leaving them and find there’s nothing on the other side and they STILL don’t know what they want out of life.
See, with the ultra-high net worth, at least they’ve got more leeway. Their kids can get “on the job” wealth training because if they learn their lesson by losing a couple million, it’s no biggie, there’s lots more where that came from.
So, what happens if you don’t give them the training? (…More…)
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I’m Asking You For Help!
I’m starting to discover it feels really great to ask for help!
If you haven’t tried it lately, do.
I’ve got so many things going on at once, I finally realized, I can’t do it all alone!
For years, I’ve been asking my mom to move out here, but I never did it from a place of asking for her help.
And now that I have, she’s moving!
Yippee!
I asked my ex for help too and he stepped up to the plate.
Hm, that seems to work a lot better than demanding. I realize now that I’ve been approaching him from a place of entitlement instead of appreciation.
I felt it was his “duty” to help me and so instead of asking for his help, I demanded it.
Frankly, that doesn’t work too well.
And, if you aren’t feeling supported by people around you, take a look and ask yourself whether you’ve been asking for help or demanding it.
If you’ve been demanding it, try asking for help instead and see what happens. Share your experiences with me by posting a comment on my blog - www.familywealthmatters.com.
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Don’t Take Your Kid to the Movies
I very rarely get out to go to the movies, but this weekend I made the time to go see the Bourne Ultimatum with my honey.
The theater was PACKED.
I was shocked at the number of people who brought little, little kids with them to the flick.
3, 4 and 5 year olds!
Including, unfortunately, the couple sitting right next to me. Ugh! I went to the movies to get a break from my kids, not to hang out with theirs.
Oh, and they also brought a big bag of chips from CVS that were all crinkly and crunchy and made lots of noise.
Now, you know - I LOve kids, but I do NOT (…More…)
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The Rich Keep Getting Richer … What About You?
After spending the week at the Ananda family camp, my mind has been racing with thoughts about the meaning of life.
This week I am beginning a series of columns that will give you the secret to developing your family’s Intellectual, Spiritual and Human (I.S.H) Assets.
Why is this important?
Because I.S.H assets are maximized when you are living a life of passion, purpose and prosperity.
You see, the three go hand in hand.
If you aren’t passionate about what you do and living your life on purpose, you aren’t going to be truly prosperous no matter how much money you have.
It will NEVER be enough.
I know that’s not the fate you want for you or your children.
You’ve told me you want your kids to be fulfilled and happy. What you truly want are kids who will carry on and multiply your whole family wealth (including the I.S.H assets, which make up the vast majority of your family wealth) after you are gone.
What does “fulfilled and happy” really mean though? How is it measured? And, who decides if someone is fulfilled and happy? (…More…)
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