Stop the broken cycle
Research shows that wealth gained in one generation could be lost by the 3rd 1.
The infographic below reveals how a breakdown in communication, preparation and trust can lead to this misfortune.
STATISTICS
GENERATION 1
Hard work, sacrifice and determination allowed this generation to build wealth. They lived humbly, and passed their work, wealth and a few family values to their children.
GENERATION 2
They watched their parents’ determination and wisdom in building wealth, and grew their legacy over time. They learned a few lessons from the 1st generation, though not always the right lessons. When they passed their wealth to their children, they didn’t properly prepare them for the inheritance. This breakdown in communication yielded unfortunate results.
GENERATION 3
Born into a comfortable lifestyle, the 3rd generation didn’t learn the lessons of sacrifice and hard work their grandparents valued. The missed communication and preparation over the years led this generation to spend their inheritance, draining the family’s wealth.
...of family wealth will be lost by the end of the 3rd generation1.
...of lost wealth is due to a trust and communication breakdown among family members1.
...of lost wealth is because of families’ failure to properly prepare heirs for an inheritance1.
...of people who received an inheritance had negative savings within two years of the event2.