We are on the cusp of an unprecedented shift in the US financial landscape. By the numbers: From 2010 to 2015, private wealth held by women grew from $34 trillion to $51 trillion. By 2021, women are expected to hold $72 trillion. Source: <Economist Intelligence Unit (2018) study> Some of this change is due to the fact that women are earning more than we ever have. We’re running companies, launching startups, and helping to drive innovation and evolution across the global marketplace.
If we’ve learned anything over the past several months, it’s to expect the unexpected. The global pandemic has challenged us all to learn new ways of communicating and collaborating effectively, and it has highlighted the need for businesses, organizations, and individuals to lean into their creativity, flexibility, and resilience in the face of change. The same is true for families. At Matter, we help build “learning families” because we believe they exhibit the behaviors and characteristics that help them remain successful in
Family meetings are invaluable to multigenerational success. They help families build trust and communication, provide a structure for information-sharing and decision-making, and create a format for introducing the rising generation to the opportunities and complexities of wealth. At Matter, we take an integrated, holistic approach to helping families thrive for generations, and facilitating family meetings is a critical part of that work. Over the years, we’ve learned a lot about how to help families prepare for meetings, set expectations, and
With the holidays approaching, many families are preparing to gather together. These are precious opportunities for family members to connect, especially for those who are geographically scattered. They are an especially important time for different generations of the family to listen to and learn from each other. While we have all experienced the telling and retelling of certain classic family tales (occasionally accompanied by much eye rolling), establishing a tradition of storytelling is actually an extremely powerful tool for families
In a 2018 article, the Wall Street Journal highlighted an apparently common practice in American families: parents doing their kids’ taxes. Why is this notable? Well, in many cases, the children are adults in their 20s, 30s, 40s, and even 50s. So, why are parents doing their adult children’s taxes? Is it a good thing or a bad thing? In our work with families, we have seen many situations like this. In our experience it’s not necessarily good OR bad.
Sometimes the hardest advice to give is to those closest to us. While we don’t pretend to have the secret recipe for success, we have found that objectivity, independence and clarity are essential. Here’s a bit more detail as to how we think about helping aging parents. 1. Use an independent, neutral advisor to facilitate the planning. This person can gather information, identify gaps, detect patterns, and provide thoughtful solutions. It is important that the advisor meets with parents and
It’s only March, but summer is just around the corner. Should teens be considering a summer job? According to Richard Weissbourd, a lecturer and research at Harvard’s Graduate School of Education quoted in this Quartz article, the answer is a resounding “yes!” Weissbourd doesn’t necessarily recommend a high-profile internship, either. He believes teens benefit much more from jobs in the service industry, where they get to see life through “a radically different lens.” “The lessons are huge,” said Richard Weissbourd, a lecturer