Wealth of Wisdom

CHAPTER 10Envisioning the Future

Jamie Traeger-Muney

The most reliable way to predict the future is to create it.

—Abraham Lincoln

Arriving at your desired destination is nearly impossible if you don't know where you are going. The same holds true for creating a fulfilling legacy. It is hard to get there if you don't know where there even is. I often ask clients who have created a successful family enterprise, “What is the purpose and vision of your business?” This is a question that they can easily answer, but when I ask them, “What is the purpose of your wealth and your vision for the future?,” they almost always look at me blankly.

To help families answer these questions, I work with them to co-create their RichLife Portfolio.™ This is a unique process that explores your relationship with money and wealth. It consists of four parts:

• Past: Discover personal, familial, and historical stories related to money and wealth, and how these have played out in family dynamics.
• Future: Values-based processes focus on creating your vision, and the legacy stories you would like to live into.
• Present: Discover your wealth philosophy by tying in how the stories of the past and the hopes for the future play out in present-day decision-making and actions.
• Plan: Develop a plan to maximize your current actions in order to bring your created future to fruition.

This approach is positively focused, concentrating on what works, and building on strengths. Much as a startup company uses a business ...