Kids, Wealth, and Consequences - (Bloomberg) by Richard a Morris (Hardcover)
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<p/><br></br><p><b> About the Book </b></p></br></br>Leaving children with a substantial amount of money can be a boon or a burden. This work enlightens high-net-worth parents about the unique issues they need to explore and address, such as investing and estate planning as well as emotional issues.<p/><br></br><p><b> Book Synopsis </b></p></br></br>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. <i><br /> <br /> Kids, Wealth, and Consequences</i> 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.<br /> <br /> Richard Morris spent many years working for his family's multimillion dollar business, and learned firsthand the challenges of business ownership and family wealth.<br /> <br /> Jayne Pearl is an experienced journalist who writes about families, family businesses, and money.<p/><br></br><p><b> From the Back Cover </b></p></br></br><p><b>How to make the financial rewards of one generation the starting point for the dreams of the next generatio</b> <p><i>Kids, Wealth, and Consequences</i> provides an iterative, chapter-by-chapter process that leads parents to a deeper understanding of themselves and what their choices and actions mean for their children. <p>The book describes how parents can impart to their children the skills they need for successful, happy lives. Morris and Pearl help parents evaluate how their choices in spending, financial management, and estate planning affect the wealth and the legacy they will leave behind. The authors offer ways for parents to discuss money with their children, teaching them how to spend, invest, and manage it responsibly. Parents also learn how to avoid the unintended consequences of inherited wealth, such as uncontrolled spending, lack of direction, lack of self-esteem, and dependency. <p>In addition, the authors address the key financial, intellectual, and emotional issues of wealth. The book tackles such "hard" issues as investing and estate planning as well as such "soft" issues as values, family, and communication in a way that underscores the interplay among all three areas. <p>Morris and Pearl cite experts to illustrate key points and also include insights into how recent economic difficulties have affected decision making.<p/><br></br><p><b> About the Author </b></p></br></br><p><b>RICHARD MORRIS</b> is principal of Resource for Ownership Intelligence (ROI) Consulting, which helps family business owners grow and pass their business to subsequent generations. He is also an adjunct professor at Lake Forest Graduate School of Management. Previously, he spent many years working for the family business, Fel-Pro Inc. Morris has written articles for print media and is often quoted in the press. He received his MBA from Northwestern University. <p><b>JAYNE PEARL</b> has been a financial journalist for almost thirty years, focusing on family business and financial parenting. She has been quoted extensively in the media. She was a senior editor at Family Business magazine, editor of a syndicated daily business public radio show, and also worked at Forbes. She has written or ghostwritten several books and written hundreds of articles.
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