April, 2023 < Back
Communication is an essential ingredient for sustaining wealth across generations. However, cross generational communication can be complex, especially within families of wealth. This is mainly attributed to each generation’s habits, beliefs, and ideals that are influenced by very different experiences, traditions and societal norms. A research survey was conducted with female participants in a diverse age group ranging from 21yrs to 91yrs by the Center for Family legacy.
The article summarizes vital insights on communication across generations; their barriers and proposes certain solutions. Geographic dispersion, busy schedules, judgmental attitude and hurt feelings are key factors that have a serious effect on communication.
The older generation need to acknowledge and respect the new world of the younger generation, while the younger generation need to value and respect the experience of the older generation. This enables mutual understanding and respect between the older and younger generations.
Enabling mutual respect and understanding between the older and younger generations is pivotal for effective cross generational communication.
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