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How To Pass Along Values And Purpose Of Family Wealth

April 2020

Cypress Wealth Services

How incredible is it to be able to pass on a legacy of fulfillment and wealth? All the hard work, learning from mistakes, and growing in times of struggle and prosperity has led you to where you are today.

The next step might be to ask yourself, “How do I pass on my values and purpose of family wealth to others?” Passing on wealth does not carry the same weight without also communicating your values and the knowledge of why wealth and financial security matters.

If you’re not quite sure where to begin, we’ve outlined a few ways to start this process. After all, the wisdom and advice you pass on concerning this topic could be more valuable and life-giving than the actual wealth itself.

Start with Your “Why”

Most of us have a story to tell regarding where we started and how we arrived where we are today. It could have been a dream to change the trajectory of what you could afford to do because of your background, or maybe it was an ingrained idea to work hard and have financial flexibility as a way of life. Maybe it was a specific experience you had that made you realize the importance of having financial security.

Whatever the story is, share the experience or desire that motivated you to build wealth and maintain integrity along the way. Ask your loved ones or whoever you currently mentor to identify their “why” and share it with you!

Educate on How To Manage Money

Once you’ve reminisced about your journey and talked with loved ones about their desires for the future, it’s important to hear their current mindset about money. This provides clarity to what they value most and how they manage their resources and assets right now. How you manage what you currently have directly dictates how you will manage more responsibility and money down the road. Use this opportunity to instill in others the importance of being generous with time and money, saving before spending, and having an organized budget of how everything is allocated.

Sometimes it can be awkward or difficult to talk with others about money and how to use it, but maintaining values and wealth does not happen by accident. This needs to be verbally communicated and shown through action.

Clearly Define Your Values and The Purpose Of Having Wealth

If you haven’t processed and concisely written down what your values are, think through 3 to 5 key values you want others to learn from you; what it means to have integrity, generosity, or stability, for example. This quote by Mahatma Gandhi expresses this ripple effect on values: “Your beliefs become your thoughts. Your thoughts become your words. Your words become your actions. Your actions become your habits. Your habits become your values. Your values become your destiny.”

Whether we like it or not, money is connected to every aspect of our lives, including what we value. The values you choose will work in tandem with the purpose of having wealth.

Is Everybody on The Same Page?

Sharing your values and wisdom may not be something your loved ones will appreciate right now as much as they will in the future. However, these conversations and actions will prepare them for when it’s their time to pass on the importance of values and family wealth.

There are many details to solidify when it comes to finding the best way to pass on your wealth. Our Cypress Wealth Services team is a group of highly educated professionals who can walk you through the details to make sure you have a clearly defined plan. Contact one of our offices today to connect so we can address your needs or answer questions.


About Cypress Wealth Services

Cypress Wealth Services is an independent RIA firm providing financial planning and investment management to high net worth individuals, families, business owners, and institutions. Cypress Wealth Services comprises professionals with diverse backgrounds and extensive experience and qualifications. Cypress Wealth Services is uniquely qualified to serve a broad range of client needs, and their experience and expertise act as a foundation for their client service process. The firm uses The Second Growth, which focuses on efficiently protecting, growing, and transferring to their loved ones the wealth and legacy a person has already built. With offices in Palm Desert, CA, Tustin, CA, and Anchorage, AK, the firm serves clients across the country in Wealth Management Services, Fiduciary Services, 401(k) Design and Management, Investment Reporting Services, Financial and Retirement Planning, and more. For more information, visit or call 760.834.7250.