When we leave just money, we help the next generation meet a need; when we leave our values, we help the next generation accomplish their goals; but when we leave some money and more importantly our values, we help the next generation achieve their dreams
What is wealth management?
Managing your wealth wisely begins with the decision to learn the basics of wealth management, to establish your “achievable” dreams, and then create plans to achieve those dreams. This process requires wisdom, knowledge, discipline, and hard work.
There are three phases in wealth management. We acquire it; we manage it; and ultimately we give it away. While each phase is unique, there are basic underlying principles that apply to all three stages.
I have been involved in the wealth management industry for over 40 years. I have seen wealth managed poorly, creating a sense of entitlement in children, which can lead to disastrous outcomes for the beneficiaries; and I have seen wealth managed well, creating a sense of responsibility in children, producing wonderful opportunities for families.
When we leave just money, we help the next generation meet a need; when we leave our values, we help the next generation accomplish their goals; but when we leave some money and our values, we help the next generation achieve their dreams.
Robert Livingston
