Richard Canfield (speaker) emphasizes establishing a "root system" of family core values and giving children "wings" — practical skills and confidence — so family members stay connected and can act on those values. He recommends regular, engaging family banking meetings (or combined profit-first meetings) as a forum to discuss core elements and teach financial skills in a fun, open way.
Chapters
And we spent a lot of time talking about what they call roots and wings. How do you establish a root system of core values and things that matter that's infused in the family and then you're giving them wings, which are the actions, the elements, the skill sets by which they can take that value system and move forward. And if you have skill sets and confidence, you can do certain things. But if you don't have that anchoring system and the roots, you're not going to see the result of what you want. And if you want to have your kids and your grandkids connected to the family, well, then they need that root system. That's the value system. That's the thing, things that you guys are talking about that you're establishing. And so regular family banking meetings, in my opinion, and maybe they're regular profit first meetings. I'm sure you can just combine the two together. You are bringing people to core elements that matter to you and having open discussions about them where they can be fun and engaging.