Life Beyond The Numbers – Episode 3

What if the greatest risk in passing on wealth isn’t tax, investment performance or legal structure — but the conversations families never have?

Every parent and grandparent wants to leave the next generation better off. But inheritance is never just about money. It carries hopes, expectations, emotions, family history and, sometimes, unspoken tension. Handled well, wealth can provide security, opportunity and confidence. Handled poorly, it can create dependency, entitlement, conflict and pressure that families never intended.

In this episode of Life Beyond the Numbers, Scott Stevens is joined by Vicky Reynal, financial psychotherapist, founder of MoneyMinds, author of Money on Your Mind: The Psychology Behind Your Financial Habits, and columnist on the psychology of money. Together, they explore why preparing the next generation for wealth matters just as much as the financial planning itself. They discuss:

• Why wealth transfer is rarely just a financial transaction
• The emotional risks that can come with inherited wealth
• Why some beneficiaries thrive while others struggle
• How to talk about money without creating entitlement
• The conversations families often avoid until it is too late
• Why financial education alone may not be enough
• The values families can pass on alongside their assets
• The difference between leaving an inheritance and leaving a legacy
• How to support children and grandchildren without creating dependency

Whether you’re thinking about your own legacy, supporting future generations, or trying to have better conversations about money within your family, this episode offers a thoughtful and practical look at how to pass wealth on with wisdom, purpose and care.

Guest: Vicky Reynal
Book: Money on Your Mind: The Psychology Behind Your Financial Habits

Topics: Inheritance, family wealth, financial psychology, legacy planning, intergenerational wealth transfer, money and family relationships.