Regardless if you’re just starting out, starting over, or are somewhere in between, it’s important to include saving for the future as part of your financial plan. Designed to safeguard your money until you need it, a savings account is a secure place to deposit your money while building up your savings over time.
For family and privately-held businesses, wealth generation is woven throughout their prosperity, legacy, and future. Recent insights reveal that for many of these businesses, not only does the pursuit of financial wealth define achievement, but also their legacy building. Let’s explore the strategies and considerations that support the continued growth of wealth within family businesses, while also exploring its significance to the family.
The article, “Research Reveals Claw-Back Bonus Schemes Can Lead to Big Losses,” debates the pros and cons of “loss-framed” bonuses, or those pre-paid to sales teams and then “clawed back” if targets aren’t met.
The article, “Sharing Leads to Caring: Personal Details Help Cement Coworker Relationships” shares the surprising findings from a recent study published in Organization Science on the macro view of learning personal information about colleagues.
The article, “Ready to Mentor a Senior Colleague? A Roadmap for Reverse Mentoring” discusses what reverse mentoring is as well as the pros and cons of mentoring colleagues in senior leadership roles.
The article, “Thriving or Trapped in the Family Business,” by Michael Klein suggests that the best thing family businesses can do for family members working in the business is to ensure individual growth and satisfaction is nurtured daily.
The article, “The Paradox of Choice: Wealth’s Impact on Family Potential,” by Doug Baumoel provides critical insights and tips to navigate children growing up with generational opportunity or the paradox of choice.