1. Start with Why – Why do I want to have this conversation, and with whom?
2. Determine Values – What are the values that are important to me, and what am I trying to convey through this conversation?
3. Establish Goals – What is the ideal outcome I am hoping for with this conversation?
4. Understand Expectations – What are my expectations of other family members in this conversation. Am I in a win-win mindset?
5. Determine When and Where – What is the appropriate time and place to engage in this conversation to listen and be heard?
6. Seek to Understand – How can I go about first seeing the other person’s point of view before I share my own in this conversation?
7. Then to be Understood – How will I have the courage to go about sharing my point of view in this conversation?
8. Create Action Plan – Think about ways to address win-win solutions rather than just surface issues from these conversations.
9. Revisit – Establish a routine for having ongoing conversations.
10. Live a Wealthier Life – Enhance well-being through purposeful conversations about money with your family.
The information provided in this commentary is intended to be informative and not intended to be advice relative to any investment or portfolio offered through Wealth Architects. The views expressed in this commentary reflect the opinion of the author based on data available as of the date this article [essay] was written and is subject to change without notice. This commentary is not a complete analysis of any sector, industry or security. Individual investors should consult with their financial advisor before implementing changes in their portfolio based on opinions expressed. The information provided in this commentary is not a solicitation for the investment management or other services offered by Wealth Architects. References incorporated into the report [essay] from third party sources are as of the date specified and are believed to be reliable. Wealth Architects is not responsible for errors in the third party data.
