Wealth Management Strategies that Span Generations

Teach your kids and grandkids how to live and to give to sustain family wealth.


Many people have made significant amounts of money by being successful in large corporations. In many cases, they are first generation wealthy, went to college, climbed the corporate ladder, received retirement benefits and in some cases stock options.  They saved money, generously supported their local charities, and entered their retirement years wealthy. The challenge these families now face is that 95% of wealthy families will lose that money by the end of the third generation.

How can families defy such odds and ensure future generations do not fritter away hard-earned family wealth?  Where do so many families go wrong that only 5% are able to hold onto their wealth for more than three generations?  If you’re in a similar situation, what should you do to ensure your family is successful vs. another statistic? What wealth management strategies are best suited to pass the test of time?

If nothing else, a must-do strategy is to teach your kids and grandkids how to live and to give in order to sustain family wealth.  Of all the guidance you can pass along, what an accomplishment to help future generations understand how to save conscientiously, spend wisely, and to give back freely.  What a legacy to be able to instill values that inspire your offspring to look at wealth management as not just a matter of investments or products but as a lifestyle decision and an opportunity to make an impact far beyond their personal wants and the here and now.

In 2016, Lenox rolled out a new wealth management initiative that seeks to help families teach their children and their grandchildren how to be financially successful. Our goal was to create multigenerational families, where each generation learns to save 10% per year and give back 10% to the community in the form of either time, money, or a combination of both. We call it our “Lenox 10/10 Program”.  

If you seek to create a family culture where you and your family learn to be financially successful, save, and give back, and continue this success over the next 100 years, we can help you achieve these highly commendable goals and have fun doing so.  Our Lenox family office solution may be the ideal solution to create the generational success you desire for your family.  Let’s talk.

Important Disclosure:  This material presented by Lenox Wealth is for informational purposes only.  It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Investments in securities and other investment products entail risk, including the risk of loss.