5 Questions Successful Families Ask Themselves

If you want to know where you are going, it's important to know where you are.

Why it Matters

• As Collier states in his book Wealth and Families, "Successful families manage themselves deliberately." "...a successful family [is] one that knows who it is, what it stands for, and where it is going."

How to Get There

The essential questions to ask and anchor yourselves on:

• What is truly important to us as a family?

• What are our real assets?

• What should we do to guide and support each person's unique life journey?

• How wealthy do we want the younger generation(s) to be?

• What is our responsibility to society / the common good?

The Bottom Line

• Successful families start with a guiding mission and purpose for their wealth, giving them a clear direction on the how, where, and when.

Go Deeper

• The National Center for Family Philanthropy has a ton of great resources for families who want to explore their meaning and purpose.