45: The Myth of the Silver Spoon

20 snips

Mar 14, 2023

In this insightful discussion, guest Kristin Keffeler, a thought leader in Wealth 3.0 and author of The Myth of the Silver Spoon, delves into the misconceptions surrounding inherited wealth and identity. She highlights the struggle for fulfillment among those from affluent backgrounds and emphasizes the importance of personal growth. Kristin also discusses the 'clutter' that hampers familial connections and the value of positive psychology in navigating the complexities of wealth. Advisors play a key role in fostering meaningful legacies and empowering families.

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ANECDOTE

Struggles Behind the Silver Spoon

Rising generation family members often struggle despite having every advantage.
They feel trapped by high expectations and can't easily find their own path.

INSIGHT

Clutter Blocks Rising Gen

Clutter is internal baggage like limiting beliefs and mindsets that block progress.
Four key types: money, identity, relationship, and other internal clutters.

ADVICE

Advisors Guide Wealthy Parents

Advisors should inform parents about common challenges their kids may face growing up wealthy.
Encourage thoughtful parenting practices like diversifying children's playdates to build healthy relationships.

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Introduction

Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.

All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.

Host Steve Legler speaks with Kristin Keffeler about her recent book, The Myth of the Silver Spoon: Navigating Family Wealth & Creating an Impactful Life. They discuss how advisors to enterprising families and families of wealth can become resources to the rising generation of these families as they face challenges that are typically overlooked by society.

If you enjoy this episode and want to hear more from Kristin, don’t miss out on her presentation at Symposium 2023 in Ottawa, May 29 – 31.

Guest bio

Kristin Keffeler, MSM, MAPP

Kristin is a thought leader, speaker, and consultant at the forefront of a global shift in family wealth advising, known as Wealth 3.0. She guides affluent and enterprising families, rising gen, and the professionals who support them in embracing the positive power of wealth and doing the “inner work of money.”

You can learn more about Kristin Keffeler on LinkedIn and the Illumination360 website.

Key Takeaways

[:26] Steve Legler welcomes today’s guest Kristin Keffeler and asks her to talk a little bit about the impact her peak human performance and positive psychology background have had on her new book.

[9:08] Kristin shares her perspective on the myth of the silver spoon.

[12:20] Clearing the clutter is an analogy Kristin uses to give perspective to the rising generation. She breaks down the four kinds of clutter.

[15:30] Budgeting is empowering, even in a situation of plenty, Kristin explains why.

[18:37] The identity factors that made some rising gens systematically thrive.

[20:45] Kristin shares her tips for advisors to help families lay good foundations.

[25:15] Having some “skin the game” in their own life is a critical part of skill building for younger generations.

[26:50] Being born into wealth shouldn’t mean you are forced into any specific path in life.

[30:36] Kristin shares her book recommendation and a piece of advice for advisors.

[34:27] Steve thanks Kristin for sharing so much of her learnings and signs off until next month.

If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.

Mentioned in this episode

The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.

The Myth Of The Silver Spoon: Navigating Family Wealth & Creating an Impactful Life, by Kristin Keffeler

Good Inside: Become The Parent You Want To Be, by Dr. Becky Kennedy

More about Family Enterprise Canada

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