Can Family Leadership Guide You To “True Wealth”?

True “Riches” Lie in Your Leadership

I was reading a an article written by my mentor Lee Brower and found some enlightening insights on unlocking “True Wealth” in your life. The insights I found to be profound:

Advertising bombards us about obtaining financial wealth on a daily basis. With such saturation, a large amount of our thoughts are focused on financial wealth. We concern ourselves with obtaining, using and holding onto riches. Often, our hopes involve passing “riches” onto our children. The challenging question is, “What is true wealth?”

Definitions of wealth which consider only bank accounts, possessions and property are wholly inadequate. Those who limit their definition of wealth to just things may be considered miserly. Ironically, the root word for ‘miser’ and ‘miserable’ are the same.

True wealth encompasses tangible and intangible assets. Intangible assets include family, health, values, education, experiences, relationships, time, memories and other assets that we may value more than money. When wealth is defined in such a manner, there is less ‘miserable-ness.’ As the definition of wealth changes, family life improves and becomes more fulfilling.

In my opinion, the definition of estate planning should be changed to Estate or Family Leadership. When we think of our estate or our assets in terms of our financial possessions, then estate planning is truly transactional. However, when we think of estate planning as Family Leadership that encompasses the management, growth and direction of all of our assets, we realize that it is a way of life… a journey — not a destination.

As leaders, we direct our children by defining what is important in life. The desires in the hearts of parents often become the desires in the hearts of their children. Our children will desire what we as parents defined as wealth. If the definition is limited to money, all you have to give them is money. Money becomes their way of understanding what is valuable.
Everyday life choices will then focus on money and be evaluated in terms of money. In some cases, parents begin evaluating others solely on the riches they accumulate. Such evaluations lead children to begin evaluating themselves according to the same standards. Since children seldom have large bank accounts, they will likely find themselves not measuring up.

When parents define wealth in terms of love, time and relationships, the family dynamics change. When wealth is seen in these terms and then freely given, children feel rich. Children can then give those qualities back to their parents, and feel they are contributing to the family. Children will desire those qualities as an expression of their worth to their parents and vice versa. Everyday choices will be evaluated according to those terms. How parents choose to live their lives and the riches they pursue, becomes the blueprint for children to follow. Through their choices, parents are communicating to children what things are valuable in life. The choice of what is wealth helps determine whether your children will feel like chattel or like an active contributing member of the family.

If you are going to successfully deliver your family’s “True Wealth” into future generations, you must have an incredible vehicle to safely and efficiently transport your “riches”. Think of a uniquely equipped bus, The Family Wealth Bus, as the vehicle that will transport all of a family’s “true wealth” into future generations. As leaders of the family, you are the drivers. And like any good driver with precious cargo, you are going to make sure your bus is the most efficient, dependable and comfortable bus you can have.

On a normal vehicle, you would focus in on the drive train. This would include the engine, the transmission, the differential, the hubs, any interconnecting shafts, gears and clutches that transmit the engine’s power to the wheels. This is the system that harmoniously and elegantly works together to optimize performance. On the Family Wealth Bus the drive train would be the Quadrant Living System™. An efficient system offers clarity, simplicity (ease of operation) and proactive predictability — you have an enormous amount of confidence that you can get to the destination your vision provides.

When you proactively lead your family, you become an attractant. Family members feel safe and have clarity as to where they are going. And, the by product of clarity is energy! Give your family the gift of leadership. You will be amazed at how stress free and rewarding you can make your journey. Take some time to assess the condition of your vehicle; make sure you have a drive train that will efficiently transport all of your family’s wealth.

By Lee Brower

In closing, I would like to share a final thought: To get what you truly want in life you must think differently than you already do to see things that you already don’t and get what you already do not have.

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