“Wealth by Design: Kevin Talma
Kevin grew up in Barbados in the sixties and seventies when there was unprecedented change happening to the environment which affected him profoundly and he always wondered why development had to destroy the
nature he loved. These observations and interest in art and environment led him to the field of landscape architecture. Kevin has been practicing landscape architecture since 1988 apprenticing in California, Hawaii, Italy and Barbados before establishing Talma Mill Studios in 1990. Kevin’s passions include art, the environment, water sports, percussion music, travel and family all of which inform his practice of landscape architecture. Kevin holds a Master of Landscape Architecture.
Trying to be happy by accumulating possessions is like trying to satisfy hunger by taping sandwiches all over your body
What does wealth mean to your family? That’s really quite a loaded question. There are endless possibilities, endless outcomes and endless ramifications.
In his book Wealth in Families, Charles Collier encourages you and your family to ask yourselves that very question. Despite common approaches, wealth preservation actually has a lot more to do with evaluating your family than it does with evaluating tax and legal structures. As Collier puts it, “The focus of wealth preservation, it turns out, is not really financial.”
Here are some key questions for you and your family to work through. The answers to these questions should be the compass for your family’s estate planning.
What kind of family do you want to be?
What are your family’s true assets?
What is really important to your family?
What should you do to guide and support the life journey of each family member over time?
How wealthy do you want your children to be?
What do you want to accomplish, or help others accomplish?
The key to all of this is that it can’t all be tackled with one family meeting—regardless of how well organized, cordial and thought-provoking that family meeting may be. This is a long-term and developing process. By “long-term” we mean that it should be a life-long process for you and every single one of your family members.
Take a look at this list. Collier writes that in his experience, the most successful families include the following in their planning process:
They focus on the human, intellectual and social capital of their family.
They stress the priority of each family member’s individual pursuit of happiness.
They work on enhancing intra-family communication.
Their time frame for defining success is long term.
They tell and retell the family’s most important stories.
They create mentor-like relationships when establishing family trusts.
They have collaboratively defined a family vision statement (AKA the shared dream).
They teach children and grandchildren the competences and responsibilities that come with financial wealth.
They work at building strong relationships and getting to know each other.
They give younger family members as much responsibility as they can manage as soon as possible.
A successful family “knows who it is, what it stands for and where it is going.” You may not have all the answers yet regarding your family’s estate plan, but if you start with what’s important, then you’ll get it right every time.
Gary Kunath: “Mastering Life Balance”
This presentation centers on elevating employee well being and helping people maximize the joy and contentment in their lives so they can a great home life and a great work life. Recent research shows that 70% of employees today would sacrifice pay increases and promotions for family well being. People are overwhelmed by the complexities of their own lives. Instead of employers recognizing this and bringing humanity back to the business and serving as a source of relief, they often compound the issues by adding more complexity to their peoples’ lives.”
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Bill Whittle – Wealth Out Of Thin Air
Bill Whittle explaining the conservative philosophy of wealth creation.
Can You Be Moral And Make Money?
John Taft, author of the book “Stewardship” and chief of RBC Wealth Management in the U.S. speaks with Steve Forbes about ethics, behavior and morals on Wall Street.
Donald Trumps Advice on Choosing a Career