Psychological Impact of Inherited Wealth With Thayer Cheatham Willis

Thayer Cheatham Willis is an internationally acclaimed author, educator, speaker, and leading authority in wealth counseling. Thayer shares insight on how her background helped inform the career she chose to pursue and the importance of wealth counseling.We chat about the importance of exemplifying values and how children will learn from what they see, rather than what they hear. Tune in as Thayer dives into how wealthy families react to stress, mental health, and substance use.

IN THIS EPISODE:

• [02:20] How Thayer’s background helped inform the career that she chose to pursue. Thayer speaks about the importance of wealth counseling. 
• [08:00] Parents need to exemplify values; kids will learn from what they see rather than what they hear.   
• [10:00] How wealthy families are reacting to stress from the pandemic. Thayer speaks about mental health and substance use during these times. 
• [21:00] The parents of the family will often pay for wealth counseling; however, young people still need to have their own journey. 

KEY TAKEAWAYS:

• It is important to role model the behavior you want to see from your kids. 
• Teens need to live their own lives; sometimes, a wealth counselor can help parents see differences within the family. 
• Parents need to let their children make their own decisions. An advisor can help parents accept their child’s journey.  
• Even if you agree to disagree, parents and children can come to terms with each other’s different life paths.

LINKS MENTIONED:

Website

www.thayerwillis.com LinkedIn

www.linkedin.com/in/thayerwillis

BIO:

Thayer Cheatham Willis is an internationally acclaimed author, educator, speaker, and leading authority in the area of wealth counseling. She has been a licensed, practicing psychotherapist since 1990, and her primary focus is on facilitating inheritors and their families as they cope with the psychological challenges of wealth. A child of wealth herself, born into the founding family of the multinational Georgia-Pacific Corporation, she brings to her field a unique insider’s perspective on contending with family dynamics as they relate to the mental and emotional challenges of wealth. Accredited with an M.A. from the University of Oregon and an M.S.W. from Portland State University, Thayer is a licensed clinical social worker (L.C.S.W.) specializing in wealth-related issues. Thayer offers thirty years of experience in a field she helped pioneer and dominates as one of its most prominent, foremost authorities. Working privately with a global client-base, she has helped over 10,000 inheritors and their families in eight countries and four continents resolve wealth-related family conflicts.  Thayer is the author of Navigating the Dark Side of Wealth: A Life Guide for Inheritors, an invaluable introduction for families on the difficult journey to freedom beyond wealth, and Beyond Gold: True Wealth for Inheritors, which focuses on how individuals can be responsible with the financial wealth in their lives, keep it in perspective, and be free to take on the tough, rewarding task of enhancing relationships. Thayer wrote a column for Worth Magazine for several years, has had many articles published in additional national magazines and writes a quarterly newsletter, available on her website. She also has been interviewed for top financial publications including The New York Times, The Wall Street Journal, Financial Times, The Business Journal, and Time Magazine.