145: Your Kids Want Your Wealth, Not Your Business, Elliott H. Kallen

Succession Stories host Laurie Barkman, The Business Transition Sherpa(™), welcomes Elliot H. Kallen, President of Prosperity Financial Group, a financial planning and advising firm. Elliot is a three time CEO with a passion for working with family businesses to achieve a meaningful life beyond financial measure. Listen in as they discuss the emotional aspect of family businesses and the hypothetical umbilical cord that’s hard to sever. It could be a reason why family business owners want their kids to take over– so they can stay close to the action. Or, they may be reluctant to let go of their company baby and plan to work until they die.  Does the next generation even want to own the business, or do they want the wealth from an exit and the ability to move on? And what’s your retirement strategy? Make it more than watching four hours of TV a day. Elliot is a proponent of creating a meaningful life. He shared the heart-wrenching story of his youngest son’s death by suicide, and how he’s honoring his memory by taking action to help other families. A Brighter Day charity unites stress and depression resources with teens and their parents with the goal of stopping teen suicide.  Enjoy this Succession Stories episode about meaningful transitions with Elliot Kallen. Find Elliot here: https://prosperityfinancialgroup.com/ ❤️ Show us the love:  Submit a review for "Succession Stories" on Apple Podcasts or Spotify _______________________________________ My Links: 🌐 Website: https://TheBusinessTransitionSherpa.com ⏰️ Meet With Laurie: https://thebusinesstransitionsherpa.com/connect/ 📘 Book: "The Business Transition Handbook: How to Avoid Succession Pitfalls and Create Valuable Exit Options" 🎙 Podcast: https://podfollow.com/succession-stories 🎥 YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa 😎 Instagram: https://www.instagram.com/lauriebarkman/ ✖️ Twitter: https://twitter.com/LaurieBarkman 😺 TikTok: https://www.tiktok.com/@businesstransitionsherpa _______________________________________ 📘 THE BUSINESS TRANSITION HANDBOOK: Get a free PDF copy of "The Business Transition Handbook" by author Laurie Barkman:  https://thebusinesstransitionhandbook.com OR text TRANSITION to +1-762-320-2826 _______________________________________ ONLINE MASTERCLASS COMING SOON: "Endgame Entrepreneurship: Build With The Exit In Mind" Join the waitlist: https://thebusinesstransitionsherpa.com/course/