(28) The Psychology of Wealth: Helping Families Talk About Money[0.50 hr CE Credit]


Presenter:
Dennis T. Jaffe, PhD
Objectives:
Participants completing this presentation will be able to:

  1. Understand how to set up a conversation about family wealth with an individual.
  2. Be able to recommend a family conversation about wealth.
  3. Understand how wealth affects relationships and identity.


Description: Money and wealth are key issues affecting one's life, personal identity, and family relationships. Families who acquire wealth often find that the conflicts that arise as a result of their fortune, or the differing expectations of different family members, can lead to conflict that can damage relationships.

The counselor comes upon wealth issues in relation to many others dimenisons of health and well-being, and needs to feel comfortable in initiating and helping them come to the surface. A new group of wealth psychologists can help individuals, and families, to define and understand their own issues in relation to their family money, and to hold conversations about the values and expetations across generations concerning family money.