Product Description

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.

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Product Details

Publisher	Bloomberg Press
ISBN	1576603482
Features	ISBN13: 9781576603482 Condition: New Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed
Creator	James E. Hughes Jr.
Author	Richard A. Morris,Jayne A. Pearl
Format	Hardcover
Label	Bloomberg Press
Edition	1
Dewey Decimal Number	332.0240083
Studio	Bloomberg Press
EAN	9781576603482
Number Of Pages	288
Title	Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation (Bloomberg)
Publication Date	2010-02-03
Manufacturer	Bloomberg Press

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Customer Reviews

A valuable survey no family should be without

Review by Midwest Book Review, 2010-05-17

Kids, Wealth and Consequences: Ensuring a Responsible Future for the Next Generation offers keys to helping children lead successful lives despite any economic circumstances whether rich or poor. It tells how to link happiness to events other than money but shows how to teach kids the real value of acquiring wealth. From financial and spiritual choices to how money enters into contentment, this is a valuable survey no family should be without.

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Encompassing Process for Families of Wealth

Review by Ann Dugan, 2010-03-18

Families of wealth as well as the consultants who work with them will find this book full of information that guides and enhances their ability to develop the skills for next generation success and happiness.
I have viewed the heartbreak in my own family business consulting of next gen who have not received the important nurturing and guidance in the financial areas of their lives and I beleive that developing the skills outlined in this book would have allowed them to survive and thrive as a person of wealth.
I highly recommend this book as a great pathway to parental and ultimately individual success.

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Highly recommended- a must read!

Review by Jill Shipley, 2010-03-16

In my work with family enterprises over the last decade I have not come across a better book focused broadly on preparing the next generation for their roles and responsibilities as owners and stakeholders of wealth. In the book Kids, Wealth and Consequences Rich Morris and Jayne Pearl describe three categories of choices an individual makes in his or her life and the implications (both desired and unintended) that can result. These choices include: (1) financial decisions such as spending needs and asset allocation; (2) intellectual choices focusing on educational suggestions and encouraging a strong work ethic and; my favorite, (3) spiritual/emotional decisions which discusses the importance of discussing family values ("the glue"), effective communication, defining success, and navigating the emotional implications that can come from having (or being perceived as having) wealth. Morris and Pearl provide insights that are beneficial to all generations, share stories from families that are easy to relate to, and provide hundreds of tips, tools and recommended resources. The book is extremely valuable to any parent hoping to raise responsible and happy stewards of wealth.

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A Must Read for Parents

Review by John N. Popoli, 2010-03-05

This is a must read for parents who want to get it right when it comes to helping our children make wise choices about all aspects of spending, investing and managing money responsibly.

It's a solid, quick read, but if you're pressed for time, check out the 7 appendices (the last 27 pages of the book). They offer a great summary and tools that illustrate the most important principles of the book, and they provide a roadmap that families can follow to avoid the pitfalls and properly apply the power of wealth.

John Popoli
President & CEO
Lake Forest Graduate School of Management

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sustainability for the next generation

Review by Diane Gayeski, 2010-02-24

As a college administrator and professor, I've seen all too many examples of privilege gone wrong -- kids who sadly can't use the brains and financial assets they have inherited. There's a lot of talk these days about 'sustainability' -- but until this book, really nothing that applied this concept to the very foundation of our society - families.

This book is both practical and inspirational --written by someone (Rich Morris)who lives these principles.

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