Kids, Wealth, and Consequences : Ensuring a Responsible Financial Future for the Next Generation

by Richard A. Morris; Jayne A. Pearl; Foreword by: James E. Hughes

• ISBN13: 9780470885529
• ISBN10: 0470885521
• Format: eBook
• Copyright: 2010-05-01
• Publisher: Bloomberg Press

Summary

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

Foreword

Acknowledgments

Introduction

Financial Choices

Calculating Your Family's Future

To Trust and How to Trust

Portfolio Management

Intellectual Choices

Financial Literacy

Skills and Experience

Goals and Purpose

Spiritual/Emotional Choices

Success and Happiness

Communication

Navigating the High-Net Worth Environment

Integrating Your Choices

The Family Glue

Pulling It Together

Appendixes

Index

Table of Contents provided by Publisher. All Rights Reserved.