File Size: 831 KB
Print Length: 266 pages
Publisher: Bloomberg Press; 2 edition (May 25, 2010)
Publication Date: May 25, 2010
I argue on so many levels. Hughes definition is by far the best wealth to generate.
That is simply too bad that most people are not driven enough to do this. I acquired this book,
put the rules into practice, and was now running my own family office and have two individuals
in my family who are already implementing the same strategies. Fantastic, fantastic. Those who think
this is hard need to take a difficult look at how they are raising their children., Whether or not you have billions or merely a nest egg or even a tiny family business this publication is a must read. The sections on family governance and why valuing each family member as human and intellectual money is so important. The particular concept that each relative should be happy and pursuing their goals is refreshing and key to maintaining wealth long term. My family has reports in our history of the way you went terribly completely wrong and the next generation had to begin once again. When preserving a legacy for 7 generations and over and above is one of your core values than this is actually the tome for you.
Packed with examples and direct simple management information it is a book for the family library., It is a life changing book. Whether your household has any money to move into succeeding generations or not, you will find a lot of information how aid your family's human and perceptive value that is far more important than financial wealth. We all will be making some modifications in our way we do things in our family.
We all told both our mature children that they needed to buy the publication. We are in our 70's and a little old to implement this in our training our children now, but we see which our generation is where it should start, and we will encourage our kids to begin taking Mr. Hughes' suggestions., If moving wealth along to seven generations will be your goal, then this is a good book. Somewhat repetitive, but some excellent ideas. I liked a history lessons., great book to buy if you are in a phase of life where you stand looking towards your childrens future and the money that you have acquired. I believe we can all relate to this book in how we all experienced or heard reports of how in the previous our families 1-3 decades ago either had lots of money but for some reason lost it all coming into our current generation. well this gives you good insight to why it happens, Great great book. Does not contain templates- I wish he would have. Had some questions but no way to reach him., I have purchased multiple copies of this slim volume to help higher net worth clients more easily grasp that at some point, your prosperity DOES, in the words of Fitzgerald, make you " different. " The particular possibilities and problems (especially the problems, believe it or not) do expand geometrically as wealth grows. (See Mark Zuckerberg's 0 million dollar lesson in " reforming" Newark public universities or almost any Powerball winner). And it's a well worn cliché among house attorneys for a reason that " you never really know a person before you share an inheritance with them" But since " wealth" is relative, you really don't have to have a very high net worth to benefit from the insightful point of view this very experienced writer shares. Regardless of how wealthy you are -- or are not -- if " Keeping That in the Family" issues to you, this is definitely a worthwhile read., Studying this book and sharing copies from it with some of my cousins really opened my eyes to the prospective in my extended family. We don't have significant financial wealth, though there are a few deep pockets. We have several people in my generation who have achieved outstanding success in life, including one who's a major general in the Military and another who is a star on Broadway.
More than that, we certainly have six generations of men and women who are widely-used to knowing the other person and working together because of a piece of recreation property that my great-grandfather acquired 100 years in the past.
That property has retained us together for 100 years but it won't be enough another 100 years. This book got me thinking about what we can do for one hundred years, and I see lots of possibility to develop the "human capital" in this family and to again those activities with financial durability.
Most of all, this book activated my thinking "outside the box" and provided the springboard for family discussions that will let my siblings and cousins and I create something with the potential to keep creating this family better for another half-dozen generations.
For that, I think buying this book was probably the absolute best family investment I could make.
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