The most taboo topic in american homes today is money. It seems as though we can discuss every outrageous subject but the family finances. However the lack of communciation about money can mean the difference between leaving heirs card for and comfortaqble or embroiled in an endless sibling brawl that can destroy family relationships and finances. The problem is all too common: generational transfer of wealth fails 70 percent of the time according to research by top experts at MIT And The Economist.
In addition, the dramatic societal and economic changes that have taken place in the past few years have made the need for solutions even greater. Solutions in light of the rising costs of living, the pandemic-related changes in many industries, the prioritizing by many young people of work-life balance over income, the historic levels of anxiety among our youth, the stressful polarization of American society, and the increasingly uncertain global environment.
Joining us for our discussion on The Money Conversation is Lori Sackler who is on the phone from her New York City office. LORI R. SACKLER is a financial advisor, senior vice president and family wealth director at a major financial institution where she leads a wealth management group. Her team is dedicated to helping individuals and families keep up with change, satisfying their financial security, addressing lifestyle and legacy concerns, and successfully guiding them through life’s transitions. Sackler is a certified investment management analyst, a certified financial planner and non-practicing certified public accountant. She is the author of The M Word: The Money Talk Every Family Needs to Have about Wealth and Their Financial Future, published in 2013 by McGraw Hill and The M Word Journal: How to Have the Money Talk released in 2016. She is the creator and former host of the radio show “The M Word” on WOR in New York City.Welcome Back to Mastering Your Money, Lori Sackler