The Voice of the Rising Generation - (Bloomberg) by James E Hughes & Susan E Massenzio & Keith Whitaker (Hardcover)

About the Book

Book Synopsis

Growing up in a family with significant wealth or a family business can often feel like an exercise in silence. What should you ask? Whom should you ask? When? Is it ever right to talk about such things?

The Voice of the Rising Generation speaks directly to those who find themselves living in that silence, the so-called "next generation." Great wealth or a family business can act like a "black hole," sapping the dreams and aspirations of future generations who feel that they can never measure up to the fortune's founder. This book, written by a psychologist, an educator, and a wise counselor who single-handedly changed the landscape of family wealth, diagnoses with economy and precision the cause of entitlement and dependency. It is not too much money or too few chores. It is the failure of rising generations to individuate, that is, to pursue their dreams, develop their resilience, and find their voice.

Many books are addressed to parents and grandparents who worry about the effects of wealth on their descendants. Almost alone in the field, this book speaks directly to 20-, 30- and 40-somethings, encouraging them--literally, giving them courage--to meet the challenge of integrating wealth's power into their lives, rather than disappearing into the black hole. Readers will:

• Come to understand the true causes of entitlement and dependency
• Identify the psychological characteristics of the rising generation and the challenges proper to its development
• Clarify their own dreams, work, and vocation
• Navigate personal relationships and communication within the context of wealth
• Recognize the special challenges faced when rising is delayed until mid-life.

If you are a young person who is starting your life's journey and wondering about the effects of parental gifts, trusts, or a family business, this book will offer you questions, reflections, and lessons-learned to help you find your own way. If you are a parent, grandparent, elder, or mentor, The Voice of the Rising Generation can serve the young people in your life as a gift more precious than gold.

From the Back Cover

In every prominent family there is a founder who built the family's success upon a dream. Paradoxically, this founding dream can turn into a black hole for rising generations, who may feel that their individuality is at risk under the weight of the wealth. If this sounds familiar, The Voice of the Rising Generation can guide you toward a more rewarding life. The authors recognize the importance of building a self-awareness that does not depend on the achievements of your predecessors.

The Voice of the Rising Generation starts by explaining the obstacles that members of new generations face. In early adulthood, we stand at the beginning of a journey of self-discovery. The first step to completing a successful journey is to understand the conflicting forces we face and to prepare to meet them with wisdom and virtue. The goal of this book is to help you use these forces to your benefit.

Too often, members of rising generations spend decades in silence. Advocating for oneself after so much time can be daunting, but the underlying message of The Voice of the Rising Generation can empower family successors of all ages. The message is simple: You have a choice. By reflecting on the questions and ideas in this book, you will be able to avoid becoming the "next" generation and find your way to becoming your own generation--with your own voice.

About the Author

JAMES (Jay) E. HUGHES, JR. is the author of the acclaimed classic Family Wealth and Family: The Compact Among Generations, and the co-author of The Cycle of the Gift: Family Wealth and Wisdom. He has also written numerous articles on family governance and wealth preservation. James is a frequent speaker at symposia on the growth of families' human, intellectual, social, spiritual, and financial capital.

DR. SUSAN E. MASSENZIO is a psychologist with many years' experience consulting to heads of family businesses and helping to plan leadership succession. Susan is the co-author of The Cycle of the Gift: Family Wealth and Wisdom.

DR. KEITH WHITAKER has many years' experience aiding enterprising families in communication around estate planning and philanthropy. His writings have appeared in The Wall Street Journal, The New York Times, and The Financial Times. Keith is the co-author of The Cycle of the Gift: Family Wealth and Wisdom.