In this episode, Aden and David explore the critical issue of entitlement within affluent families.
They are joined by wealth advisers John Ryan and Milena Konig to unpack the definition of entitlement, how it has evolved across generations, and the key role of family values and storytelling in developing a stewardship rather than an entitlement mindset.
Drawing on their extensive experience advising clients, Milena and John provide insights into the varying perspectives on wealth that can exist within families. They emphasise the importance of grounding decisions in clear family values to protect against the entitlement trap – instilling the right behaviours in the next generation.
- 0:00 – 5:00 Introduction to the topic of avoiding the entitlement trap
- 5:00 – 10:00 Defining entitlement and how it relates to affluent families
- 10:00 – 15:00 Observations on how entitlement attitudes have evolved across generations
- 15:00 – 20:00 The role of family values and storytelling in developing a stewardship mindset
- 20:00 – 25:00 Insights from the guests’ experiences advising clients on wealth and entitlement
- 25:00 – 32:00 The importance of grounding wealth management decisions in family values
- 32:00 – 38:00 Practical examples of helping adult children without enabling entitlement
- 38:00 – 43:00 Generational perspectives and advice for avoiding the entitlement trap
