There's been a lot of discussion recently about how our parents economic upbringing impacts our ability to adapt to becoming wealthy.

Their opinions and programming about money often clash with our new reality.

Learning to break this cycle is crucial to making wealth and..

..sustaining it for generations.

If you were raised in a working or middle class household & then come into wealth as an adult through inheritance or ingenuity,

you're vastly unprepared for how the world of wealth operates & how to raise your own children amid affluence.

This is why lottery winners and unprepared inheritors both often destroy new wealth within a few years.

"Most people just focus on the money and they forget adaptation" – Dr. Jim Grubman

In trying to adapt to a new environment, 2 dimensions make the greatest difference:

1. the degree to which people hold on to or let go of connection to where they came from, and

2. the degree to which they take on or resist getting involved with the new culture

The 3 main questions on adaptation

1. What from our background still serves us that we can keep?

2. What from our background no longer serves us that we need to let go of?

3. What from our new circumstances do we need to take on for the journey ahead?

The best news is, cultural adaptation to wealth is not only possible but it's also very achievable with some simple governance frameworks.

You can put yourself in the top 10% most likely to sustain generational wealth simply by doing the work.

"Structure is your friend".

This topic fascinates me (because I'm living it too). I find it similarly interesting how wealthy families adapt to other cultural influences like sending children off to college in a foreign country & bringing those influences home to the family enterprise.

"Global citizenship"

These concepts of "immigrants & natives to wealth" & cross-cultural family wealth are the topics of two excellent books by Dr @JimGrubman.

I was fortunate enough to interview Jim recently covering all of this & more.

Listen & subscribe here: https://www.businessoffamily.net/jim-grubman