What a weekend! It was a joy to gather with women from across the city (and state!) for our first THRIVE event. We discussed the foundations of wealth and the impact that cultivating gratitude can have on your legacy.
We are passionate about empowering women to grow in clarity and confidence around finance. If you weren’t able to join us, I’ve outlined below one of the major themes from our time together. If you are in the Houston area, we would love to see you at our next quarterly gathering, so be on the lookout for details after the New Year!
Building Foundations with the Five Capitals
What do you think of when you hear the word “wealth?” Beyond the dollars and cents, the legacy of wealth you create can be broken down into five main “capitals”1:
Perhaps it is easiest to focus on the Financial Capital because it is more concrete and easily measured than the others. But without the other four, it can quickly become the most dangerous of all the capitals to pass down to the next generation.
When you consider your life and the lives of your children and grandchildren, which of the Five Capitals causes you to lose the most sleep at night?
And yet, if forced to bankrupt one of the five, which one would you choose?
The Five Capitals shed light on the broader context of wealth that we often overlook. A healthy balance sheet is an important piece, but only a piece, of the legacy you will leave. Take time today to consider the magnitude of wealth in all of its forms that you have received and will one day pass down through the generations. You may be surprised by what you uncover!
Source
1 Hughes, James E., et al. Complete Family Wealth. Wiley, 2018.
Disclaimer: Our intent in providing this material is purely for informational purposes, as of the date hereof, and may be subject to change without notice. This article does not intend to constitute accounting, legal, tax, or other professional advice. Visitors and readers should not act upon the content or information found here without first seeking appropriate advice from a trusted accountant, financial planner, lawyer or other professional.
Join us:
