Sometimes it seems like members of different generations are speaking a different language—even when they’re talking about the same topic! But if we can understand the viewpoint and motivation behind each generation's words and actions, we may find common ground.
To see this thinking in action, take our fun five-question quiz (maybe with your spouse or your family, too) to see if the typical responses of your generation align with what is most important to you. Review the results with your wealth team for help in applying this discovery to your wealth plan.
Your motivations are similar to those of a Baby Boomer. You have seen a lot of change and are intentional with your approach to wealth, which is rooted in experience and family. You value trust and confidentiality and are protective of your financial situation and decisions. You prefer to read faces and are thoughtful about your wealth plan and your legacy. Your investment decisions reflect your desire for growth and eventual transfer.
What else you should know: While your values may remain steady, your priorities in life may change over time. As you consider bringing together multiple generations to plan, you may want to review 5 Wealth-Planning best Practices That Can Improve Your Family Relationships and The Importance of Family Conversations About Giving. Also, consider sitting down with your wealth advisors to see how your plan is tracking against your values and goals.
We can help you map out a plan that fits your vision.
Your motivations are similar to those of Generation X. In pursuing financial opportunities, you may rely more on your own ideas rather than typically accepted approaches. You choose advisors cautiously but collaborate candidly. You are practical and, while you do embrace digital technology, you prefer not to rely solely on technology for your financial interactions. Your investment decisions reflect your desire for growth mixed with your desire for not having a negative impact, and you look for flexibility in the strategies you consider.
What else you should know: While your values may remain steady, your priorities in life may change over time. In building a philanthropic strategy, it's important to be intentional. Everyone's philanthropic journey is constantly evolving, so consider sitting down with your wealth and philanthropic advisors to see how your plan is tracking against your values and goals. As you map out a charitable giving strategy, you may want to review Donor Advised Funds: Benefits Are Driving Popularity and Invest Like You Mean It: Insights for Responsible Investment.
Your motivations are similar to those of Millennials. After experiencing the expanse of accessible digital technology, you may feel confident in using that technology to tackle challenges, including financial ones. You are hands-on and engaged. With goals for far-reaching change, your focus on values naturally extends to your investing and philanthropy as well.
What else you should know: While your values may remain steady, your priorities in life may change over time. Consider sitting down with your wealth and philanthropic advisors to see how your plan is tracking against your values and goals. As you evaluate your investment strategy, you may want to review Invest Like You Mean It: Insights for Responsible Investment.