Top positive review
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A valuable addition to the literature on family wealth
on February 21, 2010
By combining general principles, real-life anecdotes, specific examples, checklists, self-surveys, and bullet point summaries, the authors created a very useful new edition to the expanding number of books and articles on issues facing the very wealthy and their children. The easy-to-read book combines insights from many experts, practitioners, and the wealthy themselves, captured in an orderly framework. Even with its seeming simplicity many of the ideas, concepts, and suggestions, will be revelatory for many dealing with inter-generational issues of wealth creation, preservation, and transfer. It combines solid investment advice with useful and practical ways to help children of economic privilege find ways to engage with their wealth productively and to lead fulfilling lives that are not all about the money. Early on is the sobering calculus of how difficult it is to pass purchasing power on through the generations, while later chapters provide guidance to avoid the psychological pitfalls of too much wealth too soon. For those not among the super-affluent the book will still be of interest for its sage investment advice and the reminder that money doesn't buy happiness.