Money has always been a taboo subject, but it is time we talk about it openly for the sake of our children and our future. The state of our economy makes it evident our money habits must change at every level.
(PRWEB) April 26, 2011
The belief that the next generation will fare better than the current one is inherent in American culture, with education generally viewed as the key to a successful, financially rewarding life. “Even as our economy begins to show signs of recovery from the economic downturn that started in 2008, parents remain worried about the many challenges their children will face,” says Richard Morris, co-author of Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation (Bloomberg, a Wiley imprint, 2010). “Parents are evaluating whether the future for their kids will be as good as they have imagined. Our goal is to help parents address these questions and concerns, and to support educational institutions that are increasingly becoming involved in these issues.”
Wake Forest University is one of several educational institutions seeking to provide guidance on family financial issues. Kathy Baker, Director of the school’s Family Business Center, recognized that the Business Center families and the parents of Wake Forest students share a common concern – the success of their children. “Wake Forest University is committed to preparing students for a successful college-to-career transition, and financial literacy is an important piece in that preparation,” says Baker. “Kids, Wealth and Consequences provides parents with the motivation to start communicating their financial values, and the tools to do so with confidence. We are excited about having Rich on campus for Family Weekend with a hands-on workshop customized for our Family Business Center members and WF parents.”
Parents who live in affluent communities often find it challenging to raise children with the desired financial values, observes Cindy Clarke, Executive Director of the Family Business Forum of the University of North Carolina at Asheville. "Money has always been a taboo subject, but it is time we talk about it openly for the sake of our children and our future. The state of our economy makes it evident our money habits must change at every level," she explains. “Our Family Business Forum members, the local chamber of commerce and high schools in our community are all looking for suggestions to help prepare children to make good financial choices. Bringing in financial parenting expert Rich Morris for a workshop serves the entire community.”
Morris will spend September 12-16, 2011, presenting workshops to family business owners and parents of students throughout North Carolina. Topics will include the who, when, what, how and why of talking to kids about money; defining, modeling and instilling family financial values; integrating family and business; and encouraging successful, satisfying career choices. “Children need to learn good financial values and choices from their parents, whether they are going into the family business or following a different career path,” Morris says. “These innovative Carolina schools are leaders in recognizing the importance of financial education for parents and families in the communities they serve.”
The Kids, Wealth and Consequences Workshops will be held at the following locations:
September 13, noon - 4:00 p.m., at the Whitehead Manor Conference Center located at 5901 Sardis Road, Charlotte. Sponsors include Wells Fargo, Wishart, Norris Henninger & Pittman Attorneys At Law and The Family Business Center in Charlotte. WF Family Business Center members, sponsors and their guests may attend the forum at no charge. Non-members may attend for a guest fee of $85. For information on FBC membership and guest policies, please contact Kathy Baker at 336-758-3568 or bakerka(at)wfu(dot)edu.
September 14, 9:00 – 11:00 a.m., in Boone, NC, at a location TBA. Hosted by the Boone Greater Area Chamber of Commerce. Contact Dr. Dan Meyer at 828-264-2232 or danmeyer(at)boonechamber(dot)com.
September 15, 8:00 – 10:30 a.m., in Asheville, NC, on the campus of UNC Asheville, Rueter Center on Campus Drive. This event is a regular continuing education class for the Family Business Forum membership. This event will also be open to the public, for a ticket cost of $50 per family . Contact Cindy Clarke at 828-232-5091 or cclarke(at)unca(dot)edu.
September 16, 9:30 a.m. - 1:00 p.m., at the Graylyn Conference Center, 1900 Reynolda Road, in Winston-Salem. Sponsors include BB&T Wealth Management, Turlington and Company, and Womble Carlyle Sandridge and Rice fund the Family Business Center in the Triad. WF Family Business Center members, sponsors and their guests may attend the forum at no charge. Non-members may attend for a guest fee of $85. For information on FBC membership and guest policies, please contact Kathy Baker at 336-758-3568 or bakerka(at)wfu(dot)edu .
The book Kids, Wealth, and Consequences helps affluent parents and their advisors understand how wealth affects children's future success, happiness and motivation. It explores everything from how and when parents should talk to their children about the often-uncomfortable topic of money, to what affluent families can learn from the economic meltdown about spending, saving and investing to help better prepare themselves and their children to survive in any economic environment.
Richard Morris is an adjunct professor at the Lake Forest Graduate School of Management and is principal of ROI Consulting, helping family owners expand and pass down their business to subsequent generations. Previously, he worked at his family's 80-year-old privately held company, Fel-Pro Incorporated, managing Marketing and then Acquisitions, and serving on the Board of Directors until its sale in 1998.