We at the Kozak Financial Group have built our reputation on an income-oriented investment approach that is designed to protect a family’s wealth for the long term. This process has served us well and will continue to pay dividends (literally and figuratively) for a long time to come. Perhaps our second greatest strength is our ability to help families steward their wealth over multiple generations. We have countless examples of clients who have successfully passed some or all of it onto the next generation.

                This practice of moving money between generations is more of an art than it is a science, but our experience has taught us that with practice one can have success in helping the next generation begin their financial journeys on the right track. Every family approaches this transition in a different manner, either directly by working to educate their families on the skills required to manage their future inheritance or more commonly indirectly by adding details in a will as money can still be a taboo topic to discuss with one’s children or grandchildren.

By the time these conversations get to us, a lot of the hard work is already  done for us by these parents or grandparents looking to share in their wealth, by instilling values that go beyond sound financial decision making. Values concentrated on building a fulfilling life are the foundation on which a successful wealth transfer occurs. The key to family wealth lasting for generations is good communication. The more a family talks about their collective goals, challenges, and successes the more likely they are to work together towards greater outcomes. The best way to promote effective communication is to lead by example, the head(s) of household can start the conversation, impart their values, share stories, and generally promote more conversation around long term success. Without good communication, it is  likely that family wealth evaporates within three generations of it being generated. It is crucial that a family discuss how to maintain their wealth long term and work together to instill the important values and lessons for future generations. 

                Where our team comes in and where our skills are best applied is helping our youngest clients, the children and grandchildren of existing clients, learn how to best invest their time, money, and energy. We have helped countless families learn about the financial markets, how to assess and manage  calculated risk.. Whether buying a first stock or bond, beginning a savings pattern or buying a first home, we have experience in helping people take those first crucial steps towards financial independence.

                Gaining this independence is key when it comes to assuring a smooth transition of wealth between generations. Financially savvy offspring already know the hard work that it takes to gain some level of wealth and so they tend to better understand what an appropriate action to take when it comes to growing and continuing the legacy that has been left before them.

                No matter where you are in the process, our team has experience in helping others in a comparable situation begin the conversations that are important to your family’s financial future.