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South Burlington, VT

Value Creation Blog

Who Else Wants To Know How Millenials Think About Money?

Talking With Our Millennial Kids About Money


One of the recurring themes I see with my clients is how to have a conversation with their Millennial children about money and responsible behavior towards money.  I found this article by Tom Sperling you're going to want to read.

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Topics: financial planning, Children, millenials

You Are On That Committee….

You_Are_On_That_Committee.pngMy sister has a saying, “I’m not on that committee.” In my opinion, that’s something you should never say when you’re talking about your family.

For me, the truth is I’ll be on that committee with my kids for my entire life. You see, I’ve lived a lot longer than they have and there is a certain amount of wisdom that I think I can pass on to them.

I bet you’re in the exact same position as I am.

You can help mistakes from happening.

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Topics: wealth management, Children, honest conversation

Podcast - Philanthropy And Your Children

Today's podcast features Randy Fox the editor-in-chief of the Planned Giving Center.  Randy has been involved in philanthropic activities for over 20 years.  He's known as one of the thoughtleaders in the philanthropic world.

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Topics: wealth management, Children, estate planning, podcast

What Is Grantor’s Remorse And Why Should You Care - Wealth Management

giftIf you own a business you’ve probably heard about seller’s remorse. That’s when a business owner sells their business and very soon afterwards is sorry they ever did the deal. This is a real issue in the world of business planning.

There’s another type of remorse I often run across. It’s called grantor’s remorse. That’s when someone irrevocably gives something away to a family member and then comes to be sorry that they gave the gift.

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Topics: wealth management, Children, family, estate planning

What Should You Do About College Costs?

college-graduationI don’t know about you but I think college costs have gotten more than a little absurd. The list price for lots of colleges has now crossed the $60,000 per year threshold. That’s a lot of money for a college degree. College has now become out of reach for a lot of people.

I’m a big believer in the value of a college education. A good college education will do three things. It will help you think critically, read critically, and write critically. All are good things. The question I have is it worth $250,000 to learn these lessons?

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Topics: communication, financial planning, Children

Listen To Your Children

parent child communication resized 600One of the favorite topics for wealth managers to talk about is how philanthropy can help teach great money skills to your children.  Other wealth managers might talk about doing a family bank account to fund business activities.  Still others might want you to put together funds that will provide education for your children and grandchildren.

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Topics: communication, wealth management, Children, family

Who Should Own The Family Business?

family business resized 600I recently asked a client of mine to start the process of asking his family who should own the family business.  This is a question that you need to ask if you have more than one child and one of them doesn’t work in the business.

Would you want to support a sibling who’s not in the business?

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Topics: Family Business, for business owners, Children

Children Learn What They Live

describe the imageA poem by Dorothy Law Nolte, PhD.  One that you need to read and one you need to learn.  I think this one is going to join the other two documents that live on my office wall.  This is the first addition I've made in over twenty-five years.  I think it's just that good.  Please pass this on to those you love.

-If children live with criticism, they learn to condemn.
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Topics: value, Children, family

If My Mother Had Lived

Mama Dancing resized 600Dianne Brogan often writes proud Momma posts and tweets about her son Chris Brogan, one of the internet stars who deserves his stardom.  Diane is really proud of Chris as she should be.  I often comment on her blog posts or tweets about Chris.  Just because I really like proud Momma posts.

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Topics: lessons learned, Children, family

Is A Family Bank Right For You?

family business portraitI had the pleasure of recently running into Judy Greene from the Family Firm Institute at a meeting.  During our conversation I asked her if it’s still true that 30% of first generation businesses end up being transferred to the second generation. 

Her reply surprised me.  Instead of answering the question she gave me a completely different perspective to think about.  She said the way to think about my question is about family business formation, not just about the original family business.  This different perspective fits in with what I’ve been observing for the past several years.  It appears that children might not go into the family business, but that doesn’t mean they don’t go into any business. 

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Topics: Family Business, personal value, Children

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