Summary: What are you communicating about money, whether on purpose or unintentionally—to your family and to the outside world? Wealth in families makes a lot of people nervous or scared. In this episode of J.P. Morgan’s financial podcast Michael Liersch offers fresh advice on handling communication about family wealth online and on social media. He raises awareness about the possible consequences. This may not be one of the typical financial goals you’d discuss with an investment advisor, but it makes sense to consider what money messages you want to convey, and the impact on your family. Fostering a healthy relationship between children and money is often important where there’s wealth in families. So it’s worth looking carefully at the risks as you create perceptions, while communicating about the things you do, including with photographs. Have you taken the Google test yet? If people can find out a lot about you online and you have children, are they educationally ready for the after effects? And there are risks in the other direction, too—it’s possible to fall prey to the dangers of money silence. Consider how to bring your family values into play here, while Liersch offers some ideas to help you work through this particular dilemma and get better at communicating about money.
