Family and Wealth – Making Financial Literacy a Part of your Next Family Reunion By Marcella Williams
This is the time of year when we look forward to getting together with family and enjoying a few days of food, fun and fellowship. Family reunions have been a long-standing tradition in many American communities, in particular, the African-American community. A family reunion is almost always a rewarding and memorable event. However, a lot of work often goes into planning a reunion…especially when it comes to selecting activities the whole family can enjoy.
As a wealth strategist, I educate individuals and families on how to build wealth that can be transferred intergenerationally. Now keep in mind that transferring wealth means more than simply transferring money. However, as it says in Ecclesiates 10:19, “money answereth all things.” It is imperative that families start working to increase their level of financial education from the old to the young. Using your next family reunion as a platform to provide lessons in finance and wealth building can be both beneficial and fun. The following are recommendations for your next reunion. They will provide your family with some essential knowledge in wealth building.
Giving – A major lesson in wealth building that is often overlooked is giving. A family reunion provides a great opportunity for this lesson to be practiced together. As a family, choose a charity/organization and agree to give. It may be money, clothes or toys. You may even choose to support more than one organization.
Whatever you decide, make sure the whole family is involved, including the children.
Workshops – Have a financial professional conduct a workshop for the whole family. Depending upon the venue, you may be able to conduct multiple workshops at various times throughout the reunion to meet different needs (i.e. homeownership, retirement planning, college planning, budgeting, etc.)
Q & As – Some of the best financial lessons learned come from the successes and failures of our ancestors. Unfortunately, these lessons often fail to be preserved and passed on to future generations. Provide the elders of the family with questions prior to the reunion and allow them time to share their experience in a question and answer session.
Games – Cashflow and Cashflow for Kids are fun and educational board games designed to help adults and children learn about finance. You can have a few stations set up for adults and children to pay this game together, and prizes can be rewarded to the winner of each station.
The single most common factor among our population dividing those with wealth and those without wealth, is education or the lack thereof. During the family reunion season, make the most of the tremendous opportunity of having multiple generations under one roof…an opportunity to truly make a difference and the ability to leave a legacy that will change lives. Money without knowledge is of no value…not to this generation or the next.
Call Marcella Williams’ office today at 866-664-6711 ext 23 or email firstname.lastname@example.org for more information or to schedule a free consultation.
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