Wealth Grow It Protect It Spend It and Share It Paperback
Wealth Grow It Protect It Spend It and Share It Paperback
Never has it been more important to read Wealth: Grow It, Protect It, Spend It, and Share It. More of us have created more wealth today than ever before; managing our retirement assets is increasingly our own responsibility; and America is bracing for the largest intergenerational transfer of wealth in history. Added to this are the recent financial scandals which have left us confused about who to trust for good investment and wealth management advice. And because most advisors are specialists, the critical task of integrating the varied aspects of wealth management falls on our shoulders. Written by Stuart Lucas, an experienced investment professional, Carnation Company heir, and now manager of his family’s fortune, Wealth: / Helps you to integrate the financial and family aspects of wealth management into an actionable, coherent whole; / Provides the tools and information you need to take charge of your wealth, so that your advisors and your money are working toward achieving your goals; / Addresses family relationships and values, preparing your children for affluence, the motives of advisors, spending, philanthropy, taxes, estate planning, investment strategies, and more. In short, Wealth is the definitive guide to optimizing your financial future. The lessons of Wealth apply whether you have $100,000 or $100,000,000, whether your goal is to safeguard assets to last your lifetime or to create a financial legacy that will continue for generations.
User Ratings and Reviews
4 Stars Stuart’s life lessons.
Stuart has laid out a valuable book for all who will come into an inheritance. There are many lessons, and examples that can be a road map to what your family should do when this event takes place. There are so many ways to go wrong and make poor decisions when preparing to receive wealth that a parent or family member leaves for you. This book helps to guide you in what needs to be done, so that you can bless your family and others with what you are given.
3 Stars Effective albeit plodding guidebook on wealth management
Author Stuart Lucas is an heir to the Carnation family fortune, so he knows a little something about wealth. This book is a useful, albeit somewhat plodding, handbook on managing wealth. It covers almost all the fundamentals except how to make it. It’s a bit like the old Steve Martin routine, “How to Make a Million Dollars and Never Pay Taxes.”
“Ok, first – get a million dollars….and then …
For those who do not inherit their fortunes, means other than inheritance will have to drive the ability to arrive at a level of wealth, enabling the tips and techniques that Lucas discusses. For those who want to better organize their finances, plan their estates or who experience a “liquidity event,”
“Wealth” is an effective guide to picking a financial advisor and assessing one’s own financial aims.
5 Stars Good Overview of How One Wealthy Family Manages its Money
In “Wealth,” Lucas gives a good overview of how his family manages its money. His family is a little different than most, in that it had a liquidity event that led to about $1 billion in cash for the family.
As one reviewer pointed out, the author can get wordy at times, but overall the book is well written and approachable.
If you have less than $1 million of investable assets this book might not be the best starting place for advice as the method his family uses requires quite a bit of capital to pursue effectively.
Lucas’s use of real-life examples is good, as is his view of his generation being stewards for future Lucas generations. There is a good chapter on how to use wealth to help society, which is a topic that is all too often overlooked in wealth management books.
3 Stars wealth for the family
This book is very thorough, but I thought it dealt too much in family wealth for wealthy people and not enough for personal wealth. The title does not reflect this.
4 Stars Good for the Basics
Worthwhile so long as you skim past the biographical prose and get to the basic nuggets of financial planning offered. A good basic introduction to wealth management for those that have no background working with private bankers, financial planners and/or selecting their own investments. Not a great book for learning how to invest nor where to find qualified investment professionals.
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