Turning Up the Volume

Newsletter No. 25 – June 30th, 2024
Written by a human. 

Despite the (un)popular belief, wealth does not change a person, it simply turns up the volume on who they already are.  

Why does this matter? 

I had a conversation with several family members who voiced their concern that the wealth they were planning to transfer to their children was going to “ruin them”. 

I understand the trepidation, decades of literature and now media has painted the picture of the entitled “rich kid” who runs around causing mischief and flaunting their wealth. This archetype is effective for engaging readers and viewers, but the fact is, wealth doesn’t maketh the man or woman, the man or woman maketh the wealth.

So how do you make sure that when the volume is turned up it plays something beautiful? 

Here are several observations from my work with families:

  • Model the behavior you hope to see in your kids.  If they see you use your wealth merely for your own gains, they too will follow suit; if you model a life of responsibility and a culture of giving, they too will emulate.
  • Talk to your kids about what is good, right, and beautiful – if you don’t, someone (or something) else will do it for you.
  • Transition your assets responsibly. While wealth won’t make the person, turning up the volume, quickly, is jarring for anyone, even if the music is beautiful.  Build structures around your giving and ensure gates are in place to protect the assets and your heirs.

Hopefully this is music to your ears.

– Josh Gentine

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