Tag: wealth

Family Legacy
Family Traditions, Wealth Building Tips, Wealthy Thinking

Family Legacy

Family Legacy: Generative families have vitality, creativity and the ability to continually reinvent themselves over generations. They are rare and unique entity that is capable of sustaining consistent control over a long period of time. They are important because unlike so many business ventures that focus on current profits, generative families can endure long-term with values that transcend profitability. They STAND for something, offering lessons that can be profitably learned not just by family business in first generation but also by non-family enterprises that want to operate with values beyond the bottom line. Generative families use their resources not just to sustain what they have but to create something new. The family extends its legacy - the family members' valu...
Minnie Gaston – The Millionaire Wife, Benevolent Queen
Family Traditions

Minnie Gaston – The Millionaire Wife, Benevolent Queen

From: Black Titan by Carol Jenkins and Elizabeth Gardner Hines (Original Caption) Birmingham, Alabama: Dr. A.G. Gaston, left, and wife, Minnie, admire diamond ring on finger of nationally-known religious leader, Reverend Frederick Eikerenkoetter, better known as Reverend Ike, evening of October 31, prior to banquet honoring Dr. Gaston as a "Living Legend." Uncle Arthur had always been a presence in my life. He married my mother's sister Minnie before I was born. I'm told that when Minnie Gardner married Arthur George Gaston, it was considered a melding of royal dynasties. While my uncle had begun to make his way in the world, the Gardners, a farming family from Montgomery, were considered some of the most beautiful people in Alabama. Thanks to a thoroughly shaken racial cocktail, ...
A.G. Gaston – First Black Millionaire of Alabama Tribute
Business

A.G. Gaston – First Black Millionaire of Alabama Tribute

By Black Enterprise Magazine 1992: Celebrated Birmingham, Alabama, entrepreneur Arthur G. Gaston, founder and chairman of BE 100s financial institutions Citizens Federal Savings Bank and Booker T. Washington Life Insurance Co., among nearly a dozen other businesses, is named BE’s Entrepreneur of the Century. Born the grandson of a slave in a log cabin on July 4, 1892, Arthur George Gaston Sr. prevailed over the barriers of the Jim Crow South to emerge as one of America’s most multifaceted and dynamic black businessmen. His example of strategic brilliance and unyielding tenacity served as a model of inspiration for generations of African American entrepreneurs—from John H. Johnson, the media giant who founded Ebony and Jet magazines, among other enterpris...
Booker T Washington on Wealth Redistribution
Business, Wealthy Thinking

Booker T Washington on Wealth Redistribution

The youth are regularly being led astray by their teachers, the education system, ideological organization, political parties and social media about the evils of the wealthy. They would have the children believe that socialism would be a better fit for America. As a parent, you may be confronted with socialist banter from your children and it is important to first analyse our own thoughts about wealth and the wealthy and then share counter arguments to our children who are being led astray. Wealth matters, it employs people, it allows for innovation, it constructs the life around us. Simply because we, ourselves, may not be wealthy doesn't mean that wealth itself is evil and we want our children to have a healthy relationship with money and wealth. As many a great minds have...
Don’t Let the 20th Century Taint your 21st Century Reality
Values

Don’t Let the 20th Century Taint your 21st Century Reality

I've been almost to the point of feeling rather desperate to impart this imperative upon my younger children still at home. As I have watched 2020 shenanigans and listened to its corresponding rhetoric, I realize that this is a war for the minds of the nation. The generation most effected is the younger one. Their minds are still coming into form and emotional pleas against tyranny will certainly grab their attention. I have to say that in my opinion, there is a rather inelastic group think amongst a vast majority of lower and middle class Black Americans that promotes a race ideology that has not shifted with the times. In other words, the 19th and 20th century life of the average Black person is wholly different than the life of the average 21st century Black person. Technology, co...
A 5 Point Strategy for Creating And Building Family Wealth
Family Wealth

A 5 Point Strategy for Creating And Building Family Wealth

Article by Linda Davis Taylor, author of The Business of Family: How to Stay Rich for Generations When you think of your family, mission statement and strategy are probably not the first terms that come to mind. But, as I explain in my new book, The Business of Family: How to Stay Rich for Generations, when families are organized with a business mindset, parents set up their kids for future success. I’ve found that families who truly understand wealth tend to invest in their families with as much discipline as they do with their business. Here are five strategies for your family to use to create and keep prosperity: 1. Come up with a family mission statement. Business leaders know that if they don't deliver on their promises, they'll lo...
Having the family ‘wealth talk’: Four tips to remember
Family Life, Family Wealth

Having the family ‘wealth talk’: Four tips to remember

Article By Thane Stenner Let me ask you: How much have you spoken to your kids about wealth? I'm not talking about teaching them savings habits or giving them the occasional investment tip. I'm thinking about a family wealth discussion: how wealthy the family is, how much the kids will inherit, and on what terms. If you answered, "We haven't," you're not alone. In fact, a recent survey from U.S.-based SEI Private Wealth Management reveals a shocking knowledge gap about family wealth, even among some of the wealthiest families in the world. Its findings: More than 80 per cent of United States, ultrahigh-net-worth parents (average net worth: more than $18-million) haven't let their children know how much inheritance they will receive. And only 20 per cent of them had given their ...