Article
Culture
Economics
Generosity
5 min read

Be generous: pass on values and vision, not just wealth

Millennials may not earn more—but they could steward more wisely
An illustration of a family around a table looking at graph on a laptop.
Nick Jones/Midjourney.ai.

For the first time in modern history, this present generation of 28 to 43-year-olds will not achieve a higher standard of living than their parents. This is due to factors including wage stagnation, exorbitant house prices, equally exorbitant student debt, and an unstable job market.  

Paradoxically, this same generation stands to inherit the greatest amount of wealth in history. The Financial Times estimates this to be about £8.3 trillion in the U.S., £2.7 trillion in Europe, and £2.2 trillion in Asia.  

For Christian families fortunate enough to find themselves in this situation, it’s important to consider that passing on wealth is not just a financial issue, it’s a discipleship issue. And before we delve in, I want to acknowledge that not every reader will fit the traditional family model. You might be single, part of a blended family, estranged from children, or mentoring younger people instead of raising them. The principles here still apply - ‘next generation’ simply means those you influence.  

Talk about it 

One of my soap boxes is to encourage people, especially Christians, in the UK to talk more about money and giving. This becomes especially important within families who steward a lot of wealth. If parents don’t speak to their children about their wealth – what they’re doing with it and why – they run the risk of their children 

  • feeling overwhelmed by the responsibility and potentially making poor choices,  

  • not understanding or valuing their parents' heart for good stewardship and potentially squandering the wealth, 

  • doing things their own way and potentially dishonouring their parents’ wishes, or 

  • feeling resentful that they did not inherit as much as they thought they would. 

Being intentional and speaking openly as a family about your wealth will give you as parents a chance to inculcate your children with conviction about and purpose for what God has blessed you, and them, with. And it will give your children the opportunity to share their own heart and views on how to use wealth for good, as these may differ from yours.  

There is a plethora of information out there, and plenty of professional advisors who would love to be called upon to manage your wealth transfer, but, if you are a person of Christian faith, let us challenge ourselves to look to Scripture as a first point of departure.  

David and Solomon  

King David looms large as a character in the Old Testament. One of his ambitions was to build a temple for the Lord in Jerusalem. But God explicitly told him that he didn’t want David to do the building; instead, this project was to be passed on to his son, Solomon. We know that David was a very wealthy man, and that the temple building project would require vast amounts of resources, and thus, perhaps we can consider this instance as one of the great wealth transfers of ancient times. 

There are many takeaways from this story, but here are a few that stand out to me.  

David’s desire to build a temple for the Lord comes after he’s built an extravagant palace for himself. This invites a question: how many of us might come to the end of our working lives and realise we’ve had similar priorities?  

While we don’t have a way of knowing how much Solomon’s own ideas were welcomed in the planning and preparation, I think we can assume that David spent a lot of time imparting his vision and motivation to Solomon. There’s no way this kind of philanthropic project could’ve been executed otherwise.  

While this transfer started well, it didn’t end well. Solomon went on to accumulate even more wealth than his father and ended his life in a downward spiral of excess and deception. I’m not saying there is a direct correlation between inheriting wealth and getting caught in a downward spiral, but there are many temptations and pitfalls to contend with. 

There’s something to be said for timing. While one of the scripture passages that relate this story makes it sound like the handover went smoothly, another paints a very different picture. In it we see an elderly king clinging to his position and refusing to pass his mantle to Solomon until a coup by another son forces his hand.  

What can we learn from this?  

If we want our children to use their inherited wealth wisely and generously, it’s vital that they witness their parents modelling the right priorities. If I’ve pursued the accumulation of wealth more than I’ve pursued generously sharing my resources, my children are more likely to do the same. 

If we intend to pass our legacy on to our children, we must involve them in the conversation early on. And we must be careful to allow room for their own ideas lest they grow disillusioned and disengage.  

We cannot control what our children do with the wealth we give them; we can only do our best to model the right attitude before God when it comes to our resources. The best way to do this is to teach our children that everything we have comes from God and is to be used for his purposes, not for our own material excess.  

Know when to pass on the mantle. If we hang on too long, we risk opening the door to unnecessary division and conflict within our family. It’s also worth considering transferring wealth earlier rather than later in order to be philanthropically active as a family. As in a relay race, the person being passed the baton must for a time be running at the same speed as his or her predecessor.  

The great generational transfer  

When the time comes to hand over our resources and our legacy to the next generation, there are many things to consider. We’re not just handing over our money; we’re handing over all of what we’ve learned and experienced in our walk with God. I would argue that this spiritual transfer is even more significant than any other kind. For that, we have many biblical examples we can turn to: Moses and Joshua, Elijah and Elisha, Paul and Timothy, and of course, Jesus and his Church.  

Jesus told his disciples to go and make disciples of all nations, akin to what God said to Adam and Eve way back in the beginning: Be fruitful, fill the earth and exercise good stewardship over it. Our mission has always been to steward the earth, see it flourish, and point people to a relationship with God. To do this, God has put resources into our hands to be stewarded well and faithfully passed on to the next generation. It’s imperative that we do this well if our message is to be taken seriously.  

What would it look like for your family, or the next generation you influence, to steward both resources and faith together?  

 

Stewardship UK sponsors series 8 of the Re-Enchanting podcast. Find out more. 

Article
Comment
Film & TV
Politics
Purpose
4 min read

BBC scandals turn the spotlight on its lost mission

When it's good it's great but when it's bad it’s Babylonian

George is a visiting fellow at the London School of Economics and an Anglican priest.

Tim Davie in a blue suite smiles
Tim Davie, BBC boss.

I’m a great fan of the BBC. Generally speaking, I like and admire its journalists and its output and, occasionally, I take its and the licence-payer’s shilling. 

I may be increasingly unusual in choosing to be woken by Radio 4’s Today, but love it because of, rather than despite of, its presenters’ impertinent and interruptive style with politicians. Its radio drama is seductive. I admit to having assiduously followed The Archers, until (literally) I lost the plot at Covid. Short radio drama series can be compulsive listening, such as Al Smith’s first-class Life Lines, featuring Sarah Ridgeway as an ambulance call handler. 

As for TV, I’m showing my age – The Repair Shop, Antiques Roadshow and Professor Alice Roberts’ archaeology in Digging for Britain. Ancient Top of the Pops repeats accompany Friday evening drinks. 

But back to the journalism. Say what you like, the BBC’s news output is the world’s benchmark. It has consistently hired best-of-breed reporters, particularly on the foreign stage. Whatever politicians of both the left or right claim, depending on their circumstance, it is even-handed in its analysis.  

Newsnight under Victoria Derbyshire is immeasurably improved by its slick, half-hour, after-dinner sofa format. It disassembles the pompous and hypocritical, from Trump apparatchiks to Jeremy Clarkson at a farmers’ demo, his stammering and panicky “classic BBC” attempted dismissal now cheekily deployed in its own advertising. 

But – and you’ll know the “but” was coming – there’s the dark side. There has recently been a litany of managerial let-downs, any of which could have put a more commercial enterprise out of business. Conservative governments have customarily been most prone to traducing the BBC, possibly because they think it should know its place, which is not so much below the salt as serving at their table. 

So it’s quite the new thing for a Labour culture secretary, Lisa Nandy, further to undermine the credibility of its Director-General, Tim Davie, by listing its “catastrophic” failures on his watch. The BBC has just had to apologise (an occurrence now as regular as Gary Lineker’s controversial tweets) for failing to discover, let alone disclose, that the 13-year-old narrator of documentary Gaza: How to survive a Warzone was the son of a Hamas high-up. 

A separate external review has also found that BBC bosses failed adequately to protect staff on MasterChef from presenter Gregg Wallace’s invasive behaviours. And the corporation has had to apologise this month for broadcasting antisemitic chants by the vile act Bob Vylan at Glastonbury. 

It’s not all about Davie’s alleged shortcomings. As the BBC itself might put it, other director-generals are available. George Entwhistle resigned over a Newsnight crackpot report on a child-abuse scandal; Greg Dyke over Lord Hutton’s report into how the BBC reported the David Kelly suicide affair under the Blair government. Then there was the Jonathan Ross and Russell Brand “prank”. Let’s not, please, lift the coffin lid on Jimmy Savile again. And so, one is forced to say, it goes on. 

Is the BBC uniquely wicked and/or mismanaged? No. But it’s huge and visible. I have a theory that it’s a British institution which, like others, is a victim of its imperial past. It was nurtured in a post-Reith period, when being of the BBC was like carrying a British passport (“His/Her Britannic Majesty requests and requires…”). It not only believes in, it was a child of, its own propaganda. The derring-do of its great foreign correspondents was founded on the unquestioned might of empire. 

That leads, inevitably in a post-imperial age, to hubris. It’s like Babylon, the metaphor rather than the great Mesopotamian city. Once indestructible under emperors such as Nebuchadnezzar, sacker of Jerusalem, it was destroyed by its own vulnerabilities. The scriptural allegory from Genesis is that Babylon raised the great tower of Babel to reach the sky and oversee a world that spoke its one, true language. In his wrath at their pride, God scattered its people, now unable to understand each other, for they’d come to form their own languages. 

See how that works? The BBC has come to believe in itself, rather than its mission. And consequently, it has lost the ability to communicate, both internally and externally.  

It’s not alone. The Church of England has the same post-imperial problem. So does any elected government after about a decade. It’s the jobs of Archbishop of Canterbury and Prime Minister, as well as Director-General of the BBC, that can only end in tears. 

They should get together, these people. Work out accountable corporate structures that can work in the 21st century. Create top leadership jobs that are possible to do, rather than appoint emperors who turn out to have no wardrobes. 

The point surely is not that they are humiliated, but that they have to be humbled. They need to demolish their towers, stop babbling at each other and learn to speak a common language again.  

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