The Kansas City Royals won the World Series. That statement is almost surreal given the 30 year drought and all the bad baseball that preceded it. Yet all the come behind victories left the city adoring their team and turned a skeptical national media into believers. In all the magic of the World Series run, there were many who noted …
I’ve seen it often. A business owner grows his business. As the business grows, so does the stock value. Inevitably, the question comes: What am I going to do with the stock? If there are no immediate plans to sell, the advice is often to pass some stock to the kids at a lower valuation. The justification for this measure …
Andrew Hyde decided to sail around the world. As a result he sold virtually everything he owned. He engaged in a little experiment in his life: could he reduce the number of things he owned to 15 things? He reached that goal although eventually the number rose to 60 where it sits today. No doubt Hyde’s experiment is extreme. But …
A recent article in Money magazine tells of the difficulty of holding on to wealth in the second generation. Stephen Lovell, a financial planner, describes going to his grandfather’s house and being impressed by their house, cars, boats and all their “toys.” His grandfather’s estimated net worth was $70 million dollars. But the next generation squandered it. Money magazine cites …
I speak often on the subject of giving and taxes. Probably more than 2 years ago, I spoke to some ministry leaders and I told them, “Friends don’t let friends sell businesses.” Roger, one of those ministry leaders, heard me. One of his good friends was preparing to sell a business. And all he knew was that his friend shouldn’t …
Deep in the Ozark Mountains in Southern Missouri, there is still a time and place that remains untouched by the ravages of time. The trees are so thick that you’ve got to hack them away if you want any sunlight to reach your little garden. But to get to the garden, you’ve got to pick out thousands of rocks that …
Her hair is jet black. Her smile is still strong. Her ring finger is empty. But her eyes are tired. She’s a flight attendant from Nashville to KC manning the exit row. We exchange pleasantries and find commonality in that we both have 18 year-old sons. Hers is going to junior college. He doesn’t know what he wants to become …
In every age, there are stories that transcend time and culture. Such is the story of Abraham. We find him in Genesis 12. His family is first mentioned in Genesis 11. Genesis 1-5 provide the story of Adam and the succeeding generations. The Adam generations are marked by the general mandate: be fruitful and multiply, fill the earth and subdue …
What’s the big idea behind a family giving together? I regularly recommend the practice of generosity to families I consult with, because it brings the family together around common causes. Of course, a sports team or shared interest can also unite a family, but giving together is unique in providing an opportunity for the generations of a family to work …
Scott (not his real name) came up to me at an event recently. He was excited when he told me somewhat breathlessly, “I just sold my business, and I’m ready to start giving.” While I smiled outwardly, I didn’t have the heart to tell Scott that he had just missed a huge opportunity to reduce his taxes and increase his …
