Boy! Was I naive!

Kind of like my thinking with respect to estate planning ten years ago, I thought writing an Investment Policy Statement should be pretty straightforward. All I needed, I thought, was some professional help to give me the right words.

But I’ve discovered that is not the case at all–a discovery that is both frustrating (because it means I have a lot more work to do!) and happy at the same time (because I made the discovery; I haven’t made any more foolish or irrevocable mistakes in this area . . . yet).

Way beyond getting the “right words” on paper, Sarita and I need to answer some very fundamental questions–questions far deeper than the average investment advisor is likely to ask or help us answer. Read the rest of this entry »

ADDENDUM as of 2/5/09: While I am still excited about the materials I discuss in this post, it is with great sadness that I feel compelled to note I have discovered there are reasons for caution with respect to the sources referenced herein. With respect to Vision Forum Ministries, I call your attention to the series of articles at Ministry Watchman and Jen’s Gems. And with respect to Geoff Botkin, see Who is Geoffrey Botkin? at the Under Much Grace blog.

[Continued discussion of Vision Forum Ministries' program titled The 200 Year Plan: A Practicum on Multi-Generational Faithfulness.]

I find it difficult to think even five years ahead. So how can I begin thinking 200 years into the future of my family? One secret: just begin! Start writing! Read the rest of this entry »

Chapter 6 of Beating the Midas Curse by Perry L. Cochell and Rodney C. Zeeb is prefaced by a quote from V.S. Pritchett:

“In our family, as far as we are concerned, we were born, and what happened before that is myth.”

And then the authors comment,

For most of us, the quote above rings true. We know a lot about our parents. A little about our grandparents, and next to nothing about our great-grandparents. Even if you have done some genealogical research on your family tree, for the most part, it is just that: names and dates on the branches of the tree. . . .

Read the rest of this entry »

Someone took a survey recently whose primary question was, “What keeps you from knowing God and growing spiritually?” And the most common answer? “I don’t have enough time.”

Question: When will you have enough time? And how will you find it? Read the rest of this entry »

“The world’s oldest continuously operating family business ended its impressive run last year,” the article began. I just ran into the article yesterday on a news feed, but when I looked at the details, I discovered it was first published on April 16, 2007 and in areferred to an event that had occurred more than a year before that.

But the date of the article is probably not too important. The company that went bankrupt was over 1400 years old, having been started in 578 A.D. The president at time of bankruptcy was a member of the 40th generation to run the company. Read the rest of this entry »

Most of the “success coaches” I’ve listened to seem to swear by the idea of writing your goals. Universally, they seem to say that merely thinking about your goals is not enough. You’ve got to write them out and, even if you don’t rewrite them every day, you need to review them every day. –Every day!

I think I’m slowly beginning to understand why they say this. Read the rest of this entry »

How do you help your family members write personal resumés that will help your family account for all of its “human and intellectual capital”? Here’s one model.

[If you haven't read my preceding post about Family wealth, unique abilities, and personal resumés, I think you'll want to read it. It explains the basic idea of the "human and intellectual capital" resumé that "includes everything the particular family member believes her or his best friend might know."]

Read the rest of this entry »

As I noted last time, James Hughes says that a family’s wealth is contained, first and foremost, in its human and intellectual capital. Certainly sounds high-minded. But what difference might that make in practice? And how do you account for such wealth or capital? Read the rest of this entry »