The Realities of an Inheritance: Fear of Loss

Yesterday we covered the topic who and how to trust. Today we will dive into many inheritors’ biggest fear: loss.

Wealth creators know how to be poor. They know they can survive. They’ve done it before and look at them now! As a result, wealth creators tend to objectively assess risk and act logically. Their emotions don’t interfere with their decision-making process. In their mind, they can move forward if they determine the odds of success are greater than the odds of loss.

Inheritors don’t have the same freedom, the same confidence, the same equanimity. They don’t know how to be poor. Grit is not in their vocabulary. Fear (of loss) is a powerful emotion that undermines clarity and objectivity. We see some of our clients hold off on pursuing their dreams, starting their own businesses, or learning to give financial resources away throughout their lifetimes for fear they might one day “need” it.

We guide heirs to make their decisions with knowledge and confidence. That guidance maximizes the freedom they experience with their financial and emotional wealth.