The statistics overwhelmingly show that families of means lose their wealth by the third generation. Only 3 out of 100 family-owned businesses survive three generations.
American businessman and philanthropist Andrew Carnegie wrote, “three generations in America from shirt sleeves to shirt sleeves.” In the 1700s, the phrase “clogs to clogs in three generations” expressed the same reality.
With the dissolution of the money, often the families fall apart as well.
One of my favorite questions is, “Which would you rather have: your money survives three generations or the family relationships remain healthy?”
“Both” can be an answer.
Giving is a wonderful foundation and the glue to build long-lasting families. Giving is also a great inoculation against “affluenza.”
Families that have a purpose greater than them – giving – last longer!
“I hate the giving of the hand unless the whole man accompanies it.”
Ralph Waldo Emerson
The Planned Giving Tip is to help you better motivate planned giving donors and multiply your planned giving program results to create sustainability for your nonprofit.