R360 member Angel Alvarez, founder and chairman of ABB Optical Group, is working with his family on a 40-minute documentary about what he said was the wide community of people that enabled him to become successful. They’re still working on edits. A planned 15-minute segment will tackle: “what is your life purpose, and what are you doing to change the world?” Garcia said.
Brenda Snow, 57, founder of marketing agency Snow Companies, joined R360 in part to learn more about managing generational wealth. Her father, a successful entrepreneur, hasn’t discussed money or inheritance with his adult children, and that’s caused stress. Snow wants to do it differently with her daughter.
Eleven members attended the women’s committee kickoff meeting, where they talked about the mental-health toll of Covid, navigating relationships with children in divorced families, and how to deal with earning more than your partner.
“People were bringing up that feeling of being hypersensitive to whether your spouse is feeling emasculated, feeling like they don’t have a say in the marriage because you have the power,” said Snow, who experienced that with her first husband.
Members of the women’s committee shared advice on commingling assets, recommending that couples contribute to a shared account in an amount based on a percentage of what each person earns.
“Sometimes, I’ll be really honest, even having conversations with people on this subject matter—when you see the strife in the world—people will take out a tiny violin,” Snow said. “You say, what are my wealthy-person problems? But they do exist.”
This article was provided by Bloomberg News.