Wealth of Wisdom: The Top 50 Questions Wealthy Families Ask

by Tom McCullough, Keith Whitaker

A critical resource for families managing significant wealth Wealth of Wisdom offers essential guidance and tools to help high-net-worth families successfully manage significant wealth. By compiling the 50 most common questions surrounding protection and growth, this book provides a compendium of knowledge from experts around the globe and across disciplines. Deep insight and thoughtful answers put an end to uncertainty, and help lay to rest the issues you have been wrestling with for years; by divulging central lessons and explaining practical actions you can take today, this book gives you the critical information you need to make more informed decisions about your financial legacy. Vital charts, graphics, questionnaires, worksheets and other tools help you get organised, develop a strategy and take real control of your family's wealth, while case studies show how other families have handled the very dilemmas you may be facing today. Managing significant wealth is a complex affair, and navigating the financial world at that level involves making decisions that can have major ramifications ― these are not decisions to make lightly. This book equips you to take positive action, be proactive and make the tough decisions to protect and grow your family's wealth. When your family's wealth is at stake, knowledge is critical ― and uncertainty can be dangerous. Drawn from interactions with hundreds ofwealthy individuals and families, Wealth of Wisdom provides a definitive resource of practical solutions from the world's best financial minds.

Genres: Personal Finance, Money, Economics, Finance, Business

400 pages, Hardcover

Published December 3, 2018

Reviews

[Alexander Ruchti · Rating 4 out of 5]

I really liked it.

The book raises and answers 50 questions that wealthy families ask themselves on a very wide range of topics:
- Thinking through what matters most
- Planning thoughtfully
- Investing wisely
- Raising the rising generation
- Making shared decisions
- Combining family and business
- Giving well (philantropy)
- Seeking sound advice
- Facing the future

The only reason I did not give this book 5 stars is because a more accurate subtitle would have been "50 interesting questions, of which about 20-30 are only really relevant for a handful of extremely affluent families and likely won't be relevant for you". Questions on how to choose between single family offices and multifamily offices, or how to preserve a family enterprise through the next generations, is just not relevant to most individuals. It is very possible that you can skip 25-50% of the book because it might not apply to you, just as it didn't apply to me.

That said, if you come from a background that bankers would classify as Ultra-High-Net-Worth-Individuals, then this book is easy a five star book for you.

[Allie · Rating 5 out of 5]

Covers far more material than I expected from angles I hadn't thought of. Highly recommend for those planning estates.

[Anders · Rating 2 out of 5]

Beginners book on wealth planning. Very superficial. Ok reading if you’re totally unprepared or don’t have any business education.