Wealth: Grow It, Protect It, Spend It, and Share It

2. Eight Principles of Strategic Wealth Management

“Each generation that discovers something from its experience must pass that on, but it must pass that on with a delicate balance of respect and disrespect, so that the [human] race... does not inflict its errors too rigidly on its youth, but it does pass on the accumulated wisdom, plus the wisdom that it may not be wisdom.”

—Richard P. Feynman, Nobel Laureate, Physics (1965)

Over the last 25 years of managing other people’s money, my personal finances, and our family’s wealth, I have developed what I consider to be a useful set of principles for effective long-term wealth management. They apply equally well whether you’re managing a nest egg of $1 million or $1 billion. They apply regardless ...