When my
five siblings ("the Sibs") and I received our
inheritance 22 years ago, there was no guidance available
from our elders. In an effort to make it easier for the next
generation ("the Cousins," ages 16 to 33), we
Sibs recently hosted a family discussion called "The
Power of Money." Our goals were to address issues surrounding
wealth, to share our varied perspectives with our children,
and to exchange resources. We requested that all topics be
generated by the Cousins. Invitations we re e-mailed a month
in advance. For convenience, the meeting was held in the New
York hotel where we gather annually on family business. Two
weeks ahead, we called for topics, inviting Cousins to contribute
whether they could attend or not. The subject of wealth began
to crisscross the Web.
We met in my suite on a Friday evening,
serving food buffet style. Out of a possible 22 of us, 11
attended and two others participated by e-mail and telephone—pretty
good for the first time. As we formed a large circle in
the living room, I welcomed everyone, focusing on our purpose
in gathering. We began with three minutes of silence, setting
the intention to leave the day's cares behind. A tape
recorder and microphone were set up on the coffee table.
We agreed to use the microphone as a "talking stick,"
a technique borrowed from Native American ceremonies. Anyone
holding the mike could speak without interruption. This
made for more effective listening.
The topics were written on a white board
as the Cousins called them out. These served as a discussion
guideline. To allow everyone a chance to talk, we established
a limit of three minutes per person per topic. Our first
topic was: Why do we hide our famous family name and how
does this hiding affect how we feel about it? Other topics
included how we feel about our wealth, having more than
our friends, and lending or giving friends money. The Cousins
were very open about their anxieties. It was gratifying
to hear how the Sibs have come to terms with these issues,
each in our own way.
We also discussed giving back—through
tithing, philanthropy, and gifts of time. My newly-married
niece observed that most of the Sibs have been divorced.
What part did unequal money play in the demise of our marriages?
The Sibs rose heartfully to answer her question. The last
topic of the evening concerned the issue of "proving
oneself " by working before being allowed into a trust
fund. I distributed copies of
More Than Money Journal
as a resource. After three hours, we ended the meeting as
we had begun: standing together in a circle.
Afterward, I sent a shortened transcript
to all 22 family members. I hope it will stimulate further
discussion, though it is too soon to tell. Without question,
we have deepened our relationship to one another. As we
have returned to our lives, the circle we established in
the room that night continues to nourish and enfold us.
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