#232: Benefits of Multigenerational Living and Family Estates with Gary Klaben, USMA ‘79

Service Academy Business Mastermind

“You have to be very selective about what you do and how you maintain your property as well as how you're going to get income…this is a whole new arena.” - Gary Klaben (USMA ‘79)

Gary Klaben is the President of Coyle Financial Counsel, an innovative wealth management firm dedicated to helping families preserve and grow their wealth so they can have complete confidence in their financial legacy. This is Gary’s second guest appearance on the SABM Podcast and we’re delighted to welcome him back. In this episode, Gary dives into some great topics related to the benefits of multigenerational living and building a family estate. Gary is the author of Changing the Conversation, The Wealth Sanctuary and co-author of The Business Battlefield. He’s also a coach at Strategic Coach, the #1 business coaching program in the world for entrepreneurs.

In this episode, we discuss:

• The benefits of creating a family estate and how it can help everyone realize a vision and pursue a purpose
• Why vision boards are a great starting point for making big family decisions
• The basics and benefits of running a family estate and why regular communication is key
• Why creating a family estate is more complex than running a company
• What a functioning family estate looks like and how to make it run smoothly

Gary also shares why he decided to create an estate for his family and when he realized it was the right decision. He also discusses why you don’t need to be wealthy in order to have a family estate and opens up about the complexities and rewards of owning and running his family property. We enjoyed hearing what some of Gary’s favorite memories are since he started living on his family estate and hope this episode inspires you to create an exciting vision for your family’s future.

Connect with Gary:

• LinkedIn
• Email
• Coyle Financial Counsel
• Strategic Coach

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Special thanks to Gary for joining me this week. Until next time!

-Scott Mackes, USNA ’01