We were having a conversation with a couple recently and they shared that they are concerned and worried that their children may not be able to manage the wealth that may be going down towards them.

As the first generation who have gotten themselves out of the poverty cycle, this couple had done well in their business and careers they have created. In the early years of growing up, the children were primarily taken care of by grandparents and the parents were hard at work in the business and careers they have set up for themselves.

Now that they are in their late 50s, through the decades of hard work, there is a certainly a sizable amount of wealth, business, property and investments created over time. The couple also knows that what got them to be successful may not necessarily be able to be repeated by their children.

Whatever that the parents had done, the children may not be able to do in the same capacity and the parents are worried for them (just like how all parents are). The couple we have met with would like to transfer the wealth, together with the values that comes alongside with it. This is so that there is some stewardship and responsibility that comes together with the wealth and it will not be frittered away.

What does the world promote?

The world promotes instant gratification. Everything needs to be done and gotten now. There is envy of your neighbour who seems to be doing better than you with the new house and new car. We also want to have that house and car here and now. Due to the envy, there is greed and a constant desire for more and more in whatever that we have. This leads to build-up of lots of emotions which can often lead to anxiety and fear. This usually leads to unfavourable decisions in the heat of the moment and this is something you would like to avoid.

What does engaged faith and values promote?

Faith promotes contentment and being present where we are today, irregardless of our situation. However, it is very hard, because our minds are always in the past or the future. Staying and observing our present to where we are now helps us appreciate our current being. When we can be present, we can then have a plan and move ourselves in the direction we want in a strategic and smart manner. This leads to peace and patience in knowing that it will take some time for us to get from point A to point B. Staying disciplined in our lane to keep us guided is also a virtue and value that faith can promote.

Values based financial planning process

This is where we are different. We listen to what you would hope to see in your children and instill even to the next generations to come. As the saying goes by Spiderman, “With great power, it comes with great responsibility.” Values based financial planning starts with the kind of values you would like to leave behind. Every family has different types of values you would like to practice and transfer to your children, so we want to know where you stand and how you would like that for your family. After we understand your values, we also try to understand how the process of making decision comes in your financial and investment plans. Sometimes, after listening, we notice that it is not aligned with each other. For example, while we want our children to be disciplined in the investment strategies, we continue to make emotional decisions that do not keep us on track to our long term goals. We sometimes go after the highest returns and ignore the risks that can derail our big financial decisions. It usually is not the highest returns that we are after, but to get to our goals with a peace of mind and be able to sleep well at night.  

Your financial and investment planning strategies can make a difference not just to your own emotional and personal freedom. It can change lives for your families and the people around you. You have spent a lifetime to build your wealth, wouldn’t it make sense to spend a few moments to protect and preserve it, enhanced with good values.