“The world is changing faster than ever, which means that the younger generation may be going places and doing things—or want to go places and do things—that the older generation wouldn’t have done, and sometimes can hardly conceive of.
ABOUT THE AUTHOR: https://yourbatontime.com/
That younger generation today is spawning new industries, new perspectives, new appreciations, and new goals, and they are taking on new challenges. The beneficiaries of that $68 trillion aren’t going to just be dealing with a financial inheritance, but with a world that is moving even faster than their parents’ world moved,” writes Steve Braverman in his new book, Your Time with the Baton: Winning the Relay Race of Family Wealth Stewardship. “There are also changing family dynamics and demographics. Children are staying at home longer or more often returning to live at home. The younger generation is changing jobs more frequently.
They often live in households that are less conventional than the family construct of the past. More of them are focused on social responsibility, on the idea of having a positive impact on the world, on changing the world for the better. In addition, wealth is often viewed differently in today’s society than it was even a generation or two ago. The vision of families of stature and influence, families to be admired, is not as prevalent now. Sometimes there is even a social stigma around wealth, because of the social disparity, the wealth gap, that exists in society. What does this mean for family legacies, especially long-established family legacies?”
Braverman writes with as much intellectual punch as he does visceral efficiency. You actually feel invested on an emotional level whilst turning the pages, to the point where Braverman even christens a particular passage as The Emotional Aspects of Wealth Transfer. In some ways, this only further solidifies Braverman’s expertise.
He is self-admittedly a member of the wealth transfer school, whilst simultaneously makes a compelling case for the fact emotional intelligence is as much a factor in navigating the field of effective wealth transfer, as is shrewd, colder pragmatism. “The emotional aspect of this process deals with questions such as these: What if at the end of the day there is less capital, but there’s a more enriched society or more fulfilled individuals in the family? What is the true legacy I want to pass on with my wealth? Is that legacy measured in dollars and cents, or is the legacy measured in personal and/ or societal impact? Is it about future generations having a certain quality of life that keeps them well occupied, healthy, and fulfilled?”
BARNES & NOBLE: https://www.barnesandnoble.com/w/your-time-with-the-baton-steve-braverman/1142484097
Braverman writes. “…From my personal and professional experience, I have learned that wealth should be defined by far more than just the numbers, and that there are many areas to consider in order to create a successful legacy. This book is necessary because that massive train of wealth transfer is bearing down on society and is not going to stop. And dealing with this tremendous change is about a lot more than dollars and cents. This book is my effort to move people beyond the basics of setting up a trust.”