Business
Developing and preserving family wealth and strong values takes great effort. What can you do to make sure your next generations are building on what’s important to your family rather than blowing it? Why is the most common pattern “shirtsleeves to shirtsleeves in three generations”? Most families within one generation develop tangible and intangible values they are proud of. But all too often that which is valuable to one generation is not effectively transferred to future generations. In this episode, we’ll introduce you to two families that have managed to pass various forms of wealth to six or seven generations, including family businesses that have endured for over 200 years. Pierre DuPont shares a real-life case study of hard-earned lessons from his family which has been one of the wealthiest families in America for many generations. You’ll gain great wisdom from his intention to help other families and business leaders create a more positive, multi-generational legacy. Learn from the experience of world-renowned families how to manage, maintain, and preserve financial and non-financial family wealth in ways that benefit future generations. Find out how you can help your children, grandchildren, and all future descendants sustain principles that can multiply your family‘s success! Episode Highlights: Pierre talks about his family history, inherited wealth, the businesses developed, and his definition of wealth. We discuss: Forms of financial and non-financial wealth The best paradigm for generational wealth transfer Positive and negative impacts of financial wealth to your future descendants The value of open, honest, inclusive communication about family traditions Common principles and practices about finance in relation to family wealth The importance of training and mentoring family members of what’s important to the family Purpose and goals for wealth And we talk about how to: Keep families together over multiple generations Guide your future descendants on how to preserve and wisely utilize their financial wealth Develop and maintain family bonds and traditions over the generation Engage family members in business and philanthropy Pass the wealth to your descendants with appropriate guidance Thank you Thanks again for listening to the show! If it has helped you in any way, please share it using the social media buttons you see on the page. We’d also really appreciate any feedback or questions that might guide what we talk about in future episodes. Additionally, reviews for the podcast on iTunes are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we read each and every one of them. JOIN THE SYSTEMS FOR SUCCESS COMMUNITY! Subscribe to the Systems for Success Podcast on IOS or Apple Itunes. Subscribe to the Systems for Success Podcast on Android or Windows OS. Enter your email in one of the email opt-ins on this site for regular emails from Lonnie Gienger or the Gienger Family on additional Systems for Success. Follow Systems for Success on Instagram @systemsforsuccess Follow Lonnie Gienger on Instagram @lonniegienger