Tendrils: Growing stronger day by day

Happy New Year!
We all know that 2009 was a financially challenging year. As with all challenges, some good has resulted from the trial. I’ve noticed that more people are now motivated to get a handle on their personal finances, to make wiser decisions, and to choose options that are in line with their values and [...]

According to a Prince & Associates survey, there is a disconnect between the value financial advisors believe they provide clients and the value high net-worth clients believe they receive. That is, while advisors tend to believe they offer high-value service, clients are not so sure. And, even those who are “satisfied” are not likely to [...]

I recently began reading Your Money & Your Brain: How the New Science of Neuroeconomics Can Help Make You Rich by Jason Zweig. For warm-ups, he gives examples of how knowing better doesn’t mean we’ll do better and runs down some basic lessons we’ve learned as the field of neuroeconomics has progressed.
My favorite “case study” [...]

Over the next 50 years, 50-100 trillion dollars will be transferred to successive generations. Approximately 80% of all transfers will fail by the 3rd generation.
According to a study in Williams and Preisser’s “Preparing Heirs” only 15% of estate / wealth transition failures were due to the what’s (i.e., legal and technical issues). The remaining 85% [...]

Last week I learned that approximately 80% of all wealth transfers fail by the 3rd generation. Why? Because financial and estate planning typically start with the method instead of the purpose.
At the Masters Level Intensive on Purposeful PlanningTM, I learned that there is another way. It’s the way I was looking for, but did not [...]