In his newest book, David Phillips explains 17 positive features of The Family Bank Strategy and lists 10 factors that have come together to make it one of the premium safe money strategies today. For many of you, The Family Bank Strategy is a way to lock in the value of your estate for loved ones, earn a solid tax-free return on your cash value, and have tax-free access to the capital when you need it. It can play an important role in increasing your family's after-tax wealth.
Why do 70 percent of wealth transition plans fail? This is the question that Emily Griffiths-Hamilton sets out to answer in Build Your Family Bank, a book that looks closely at the core causes of wealth erosion and failed transition plans and offers a set of strategies for building successful wealth transition plans that will benefit many generations.
Discover new insights on how to setup, manage, and advise wealthy families and their family offices The Complete Family Office: A Guide for Affluent Families and the Advisors Who Serve Them, 2nd Edition represents the newest update to an essential series. This book prepares the members of wealthy families to collectively manage, sustain, and grow their wealth across multiple generations. It also assists professionals who advise families to better serve their needs. This book teaches those who advise family offices and wealthy families on: · How to setup, structure, and advise a family office · Current compliance, fiduciary and risk management practices for a family office · Forward-thinking investment management, estate planning, and private trust company considerations · Fresh insights on philanthropy, legacy, and impact investing · Best practices to managing family wealth education and preparing next generation owners · New insights on family governance, strategic planning, and succession · Methods to create a family constitution, mission, and vision for families and their family offices. The Complete Family Office Handbook provides the most comprehensive, current research, practical guidance, and approaches from leading family offices from around the globe and illustrates, by way of practical case studies and examples, how families can effectively manage their wealth for the long term.
The Wall Street Journal, USA Today, and BusinessWeek bestseller Bank On Yourself: The Life-Changing Secret to Growing and Protecting Your Financial Future reveals the secrets to taking back control of your financial future that Wall Street, banks, and credit card companies don’t want you to know. Can you imagine what it would be like to look forward to opening your account statements because they always have good news and never any ugly surprises? More than 100,000 Americans of all ages, incomes, and backgrounds are already using Bank On Yourself to grow a nest-egg they can predict and count on, even when stocks, real estate, and other investments tumble. You’ll meet some of them and hear their stories of how Bank On Yourself has helped them reach a wide variety of short- and longterm personal and financial goals and dreams in this book.
Family offices are private organizations that assume the daily administration and management of a wealthy family’s personal and financial affairs. Historically, these repositories of great wealth were shrouded in secrecy, their activities conducted behind closed doors. Recently, family offices have acquired a considerably higher public profile: they represent a mere 7 percent of the world’s ultra-high-net-worth population—yet control a staggering 50 percent of the wealth. As only a select few families now hold a disproportionate amount of global wealth, there are significant social implications to how such assets are managed and used. This book provides an insider’s view for anyone looking to understand family offices and how to best serve and advise them. The veteran practitioners William I. Woodson and Edward V. Marshall offer a thorough guide to family offices: why wealthy families create them, what they do, and how to manage them effectively. They present these insights through a series of problem-based learning cases that follow a single family’s journey from the time of a significant liquidity event; through the creation, staffing, and management of their family office; and on to its succession. Each case study is supported by detailed background reference material. The cases and background materials are drawn from the authors’ practical knowledge, network of industry experts, and experience advising family offices large and small. They shed light on the unique issues that ultrawealthy families face and the solutions they adopt to address them throughout the life cycle of a family office. This book is the definitive resource for practitioners and students, as well as family principals, advisers, service providers, and all others who engage with the world of family offices.
Selected as one of Motley Fool’s “5 Great Books You Should Read” Advice on managing your wealth from bestselling author Bill Bonner From trusted New York Times bestselling author Bill Bonner comes a radical new way to look at family money and a practical, actionable guide to getting and maintaining multigenerational wealth. Family Fortunes: How to Build Family Wealth and Hold on to It for 100 Years is packed with useful information, interwoven with Bonner's stories about his own family's wealth philosophy and practices. A comprehensive guide that shows how families can successfully preserve their estates by ignoring most of what people think they know about "the rich" and, instead, training and motivating all family members to work together toward a very uncommon goal. This book is a must-read for all individual investors—even those who do not plan to leave money to their children—because it challenges many of the most ubiquitous principles and rules of investing. You might expect a book on family wealth to be extremely conservative in its outlook. Instead, the Bonners announce what is practically a revolutionary manifesto. They explain: Why family money should NOT be invested in "safe, conservative" investments Why charitable giving is usually a waste of money, or worse Why it is NOT a good idea to let children go their own way Why you can't trust wealth "professionals" and why you should never entrust your money to money managers Why giving your children as much education as possible is NOT a good idea Why Warren Buffett and the rest of the rich people asking for higher tax rates are wrong to take "the pledge" Why Wall Street is a graveyard for capital, why most celebrity CEOs are a threat to the businesses they run, why modern capitalism is a failure, and more You will come away with a very different idea as to what family wealth is all about. It is not stodgy. Not boring. Not moss-backed and reactionary. On the contrary, it is the most dynamic, forward-looking capital in the world. The essential guide to passing wealth from one generation to the next, Family Fortunes is filled with concrete, practical advice you can put to use right away.
How to Build-and Keep-Generational Wealth! How can a family build "safe and sure" wealth... that lasts for generations? That's the question answered by Perpetual Wealth. You'll discover how families can create wealth together to serve the good of all. The authors call it "Family Financing," and it's about much more than money! Among the many fascinating and insightful points, you'll learn: Why "typical" financial advice sabotages long-term wealth The "4 Cornerstones of Generational Wealth" that ensure an inheritance will be wisely used, not wasted Why life insurance is "better than a bank" for growing wealth 13 "rules" for raising financially responsible children Plus, how to invest in the future of your family... and leave a lasting legacy Perpetual Wealth also includes an engaging story of a fictional family that will show you examples and ideas for: Family retreats to learn and grow together Writing a family mission statement Using Family Financing for leadership development Guidelines for family saving, lending, and borrowing And much more "The idea of Perpetual Wealth has always fed my Soul Purpose. "Perpetual" meaning long-term legacy, and "Soul Purpose" meaning what I was put on earth to do/give. Those two go together in a way that drives my energies every day. This book gives you some concrete steps to take with your family to work on both legacy and your own sense of your gifts (and your family's gifts) to the world." - Garrett Gunderson New York Times bestselling author and Chief Wealth Architect of Wealth Factory
Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.
