How Can I Establish My Own Identity Outside of the Family Business?

Your parents and grandparents have incredible memories of their favorite moments of you as a child. It’s almost as if they are indelibly etched in time. Those endearing moments are a gift that brings them feelings of connection to you. Sometimes, those seem to get in the way when you’re trying to establish an adult identity. While those old memories may never fade, they can be balanced with new ones that you can create. When you are thinking about those new moments in your life consider the following:    

1.     Identify your passions and goals: It is important to take the time to reflect on your own passions and goals, and to consider how these align with the values and interests of your family. Do you have a specific career or industry that you are passionate about? Do you have specific goals or aspirations that you want to pursue? Understanding your own passions and goals can help you clarify your identity and guide your decisions.

2.     Communicate openly and honestly: It is important to have open and honest communication with your parents and other family members about your goals and aspirations. You may want to schedule a meeting to discuss your thoughts and ideas, and to ask for their support and guidance. It may also be helpful to seek out a mentor or professional advisor who can provide valuable perspective and advice.

3.     Seek out opportunities for growth and development: As an adult child of a wealthy family, you may have access to resources and connections that can help you achieve your goals. Look for opportunities to pursue internships, education or training, or other experiences that can help you build the skills and experience you need to succeed.

4.     Find ways to contribute to your family’s legacy: While you may want to establish your own identity and make your own mark, it is also important to consider how you can contribute to your family’s legacy. This may involve working within the family business, participating in the family’s charitable or philanthropic endeavors, or finding other ways to support and contribute to the family’s success.

5.     Remember that it’s not just alright to be different, it’s necessary: It is important to remember that every family is different, and that it is important to be different from your parents or siblings. You may have different interests, goals, or values, and that is not wrong. Be true to yourself and incorporate your own passions and goals into the family future. In these ways you can help create new memories that help bring your identity up to date. Being the same is replicating. Being different is contributing.

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Model of Transitions

Consider the number of physicians and business owners in the top 1-2% income bracket in the U.S., especially those who didn’t come from such affluent

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