March 16, 2021—Inflation is on the minds and lips of everyone these days, and the just-signed stimulus package is increasing those concerns. Vaccine deployment is picking up, COVID-19 cases are down, spending is accelerating, and the nation is clamoring to enjoy the outdoors and one another in a way we haven’t in a full year. With the passage and signing of the American Rescue Plan Act of 2021 (ARPA) last week, we have growing conviction of strong economic growth in 2021.
The power of the purse is increasing at an unprecedented pace. A third of the world’s financial assets is now under the control of women. From 2016 to 2019, they accumulated wealth at a compound annual growth rate of 6.1%. Over the next four years, that rate will accelerate to 7.2%—adding $5 trillion more annually to the global wealth pool, according to a comprehensive global study.
When you think about your family dynamics, do you have a feeling of unity? Specifically, that level of harmony within your family that can offer the greatest opportunity for generational success.Preparing your family for the future is important, particularly if you own and run a family business that you hope to pass to future generations.