Episode 24 | How to avoid the entitlement trap

Ask a question or send feedbackIn 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. 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. (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 trapThe Purposeful Investor Podcast is a public service provided for Australian investors wanting to make smart decisions with their money, avoid costly mistakes, look after the people they care about, and, have a great life!We draw on over 30 years of experience from David Andrew and the Capital Partners team.For more information on Capital Partners' award winning team, visit capital-partners.com.au. Have a question? Email us [email protected] episode provides general advice only. We do not consider your personal circumstances when we share this information. Always refer to your financial adviser for advice about your personal circumstances. Capital Partners Consulting Pty Ltd AFSL 227148 trading as Capital Partners Private Wealth Advisers ABN 27 086 670 788.