Practitioners in the field often see the “three generations”-rule play out. The rule, also known as the “30-13-3” statistic, states that the first generation builds the business, the second generation looks after it, and …
It is sometimes implied that the next generation will take over the family business. The children have been trained since birth to do so. But is this always a good idea? What does science …
Why form a council? It takes guts to amass a fortune; guts, confidence, and well, let’s face it, hubris. These same qualities which make success possible act as a double-edged sword within a family …
Much academic time and effort have been spent optimizing the handover from one generation to the next. Most of the literature derives its source from CEO succession plans adapted to family businesses and its …
As I am flying over the clouds heading for London, I can never quite avoid getting emotional. The peace and tranquility of the clouds get me every time. We get emotional about many things …
Introduction I’ve recently read the book “To Risk It All: Nine Conflicts and the Crucible of Decision” by Admiral Stavridis and have also got “Risk - A User’s Guide” by General Stanley McChrystal on …
If your family has struggled with wealth issues, you may well have heard the old saw about the loss of wealth: “from shirtsleeves to shirtsleeves in three generations.” For those familiar with the pitfalls …
Introduction The old saying goes: “from shirtsleeve to shirtsleeves within three generations.” According to the Oxford Reference website, it is a “Proverbial saying, early 20th century; meaning that wealth gained in one generation will …
Intentional wealth is what you strategize or plan in order to increase your worth and to pass on your wealth to the next generation and/or to support philanthropic purposes. There are two different aspects …