Getting Started: An Introduction and Primer on Family Finances and Investments

‘If you don’t control your wealth,
it will control you…’

Overview:

Many essential life skills are not taught in schools and can fail to get the attention they deserve in a busy home. Basic knowledge, such as the organization of family finances, an operating budget, structured approach to investment and wealth management, business leadership, philanthropy and risk management, is essential in a legacy family.

Managing family finances and wealth on a planned and purposeful basis begins at home, and the approach taken to managing basic family finances, savings and investment can serve as both a model and lesson in how to organize and manage greater family wealth later in life.

For younger members of the family, preparing a student budget (as offered here) can begin the journey to responsible stewardship of personal and family wealth over time.

Effective management of family finances always includes a formal plan and budget for income, expenses and investment. Taken together, these three elements can combine to reduce unnecessary costs, promote savings and investment, and ensure that your wealth investments are focused on achieving your family wealth and legacy objectives in the manner with which you are most comfortable.

The approach taken here on this latter topic will include a classical approach to defining your investor profile, establishing the objectives of investment, a quick summary of asset classes, a simple asset allocation model and an approach to individual investments and your advisory ecosystem that can stand you in good stead for years to come.

Instructors:

TBD

Objectives:

Financial literacy is one of the key topics many family leaders see as critical to continued family success. In this Foundation Course you can begin your legacy educational journey by exploring a basic approach to understanding, organizing and controlling your income and expenses. You can also work through a high-level approach to family wealth management.

This Foundation Course will equip you with the basic knowledge and templates needed to manage revenue, costs and both savings and investment, Preparing you for a long and successful family wealth and legacy journey.