For this podcast and in general, we think a lot about wealth and the transfer of wealth. Of course, we should define “wealth” broadly, to include not just money and property, but also relationships, values, history and wisdom. On this podcast in particular, we talk about ways to transfer wealth to encourage and foster the right kinds of values and behavior, rather than enabling the worst kinds. This is a difficult and complex process.

In this episode, Steve explores one type of person, whom he calls the “rich relative,” who seems to do a great job of sharing wealth — including money and wisdom — in a positive way. He discusses the concept of the “rich relative” and this person’s approach to sharing of wealth, and what the rich relative’s playbook might teach us about the opportunities and pitfalls of transferring wealth.