Money Talks Weekly

Hi All,

Money Talks Weekly

This is my weekly learnings to our email subscribers, same will be shared in our website and linked in. Please do share if you think it would benefit to your dear ones.

I am blessed to understand money related issues of my clients. They show generous trust to share their family issues around money and wealth with me.

We always see not having money is the problem. But having money also a big problem. I met a person, he has a beautiful family, loving daughter, grand children and son-in-law. He was a NRI. He retired as a successful businessman with pretty good wealth. He got good property in Kerala and bank balance.

He lost him wife, couple of years back. She was supportive and managed family and family money matters. They have not disclosed much wealth to daughter. Daughter and family is leading a good family, husband working in a MNC. Earning decent income. But my client has pretty good wealth that is beyond daughters or son-in-laws imagination.

There are rented properties and it required managing. he is aging but healthy. He has to handover his wealth to his daughter. She has not seen and managed this kind of wealth in her life. Its same for her husband too.

Here, we need is a Succession planning without losing the protection of my client and his family need to take over this asset. They should learn to manage it going forward.

This handover should require hand holding, more matured approach. It should not be an overnight wealth, this should not effect the peaceful family life. No greed or mismanagement should not come in place.

We all are creating wealth, one day, that should move it to our next generation. A smooth handover is our responsibility ! Same time, protect your own retirement life.

Happy money life !

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