Book description
Leaving children with a substantial amount of money can be a boon or a burden. High-net-worth parents need to give their children an education to navigate today's complex world. The question becomes how to raise children with a sense of reality and balance, imparting a strong work ethic, and making them good stewards of their wealth.
Kids, Wealth, and Consequences enlightens high-net-worth parents about the unique issues they need to explore. The book addresses the "hard" financial issues, such as investing and estate planning, as well as the "soft" emotional issues relating to values, family, and communication. Morris and Pearl detail strategies and techniques to help parents raise children who appreciate and know how to manage the wealth they inherit.
Richard Morris spent many years working for his family's multimillion dollar business, and learned firsthand the challenges of business ownership and family wealth.
Jayne Pearl is an experienced journalist who writes about families, family businesses, and money.
Table of contents
- Copyright
- Foreword
- Acknowledgments
- Introduction
- I. Financial Choices
- II. Intellectual Choices
-
III. Spiritual/Emotional Choices
- 7. Success and Happiness
- 8. Communication
-
9. Navigating the High-Net Worth Environment
- 9.1. Self-Survey about Your High-Net Worth Environment
- 9.2. Media and Money
- 9.3. "Old" versus "New" Money
- 9.4. Keeping Up with the Neighbors
- 9.5. Transcending External and Internal Economic Shocks
- 9.6. Discretionary Wealth
- 9.7. Staying Safe and Secure
- 9.8. Taking Inventory of Your Lifestyle and Values
- 9.9. Connections and Disconnections between Wealth and Lifestyle
- IV. Integrating Your Choices
- About the Authors
- About Bloomberg
Product information
- Title: Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation
- Author(s):
- Release date: February 2010
- Publisher(s): Wiley
- ISBN: 9781576603482
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