Wealth of Advice: The Top 50 Questions Wealthy Families Ask

400 Pages·2018·2.87 MB·English

by  McCullough

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Wealth of Wisdom
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Wealth of Wisdom
THE TOP 50 QUESTIONS WEALTHY FAMILIES ASK
Tom McCullough
Keith Whitaker
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Thiseditionfirstpublished2018
©2019TomMcCulloughandKeithWhitaker
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Allrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,or
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TomdedicatesthisbooktoKaren,Kate,Ben,andMiranda.
Keithdedicatesthisbooktothemanytrustedadvisorswho,
overthepasttwodecades,haveinvitedhimtosharewith
themthejourneyofhelpingenterprisingfamilies.
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Contents
Foreword xiii
DirkJungé
Acknowledgments xvii
Introduction xix
SECTION1 THINKINGTHROUGHWHATMATTERSMOST 1
Chapter1 AreYouWealthy? 3
PatriciaAngus
(cid:2) Chapter2 WhatAretheMostImportantFactorsinLivingWell? 9 (cid:2)
ScottyMcLennan
Chapter3 WhatAretheKeyConsiderationsinCraftingYourLegacy? 15
ThayerWillis
Chapter4 WhatDoesPassingonValuestotheNextGenerationReallyLookLike? 23
EllenMileyPerry
Chapter5 HowtoThinkThroughUsingResourcesThatExceedMyPersonalNeeds? 31
PaulSchervish
Chapter6 DoesFamilyHistoryMatter? 39
HeidiDruckemiller
SECTION2 PLANNINGTHOUGHTFULLY 45
Chapter7 IsItWorthHavingaFinancialPlan? 47
ScottHayman
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viii Contents
Chapter8 WhatIstheRightBalanceBetweenSavingandSpendinginRetirement? 55
MeirStatman
Chapter9 HowDoYouStartaFamilyConversationAboutPrenuptial
Arrangements? 63
CharlesCollier
Chapter10 HowCanYouPreserveaBelovedFamilyVacationHomeorEstate? 67
JamieForbes
Chapter11 HowCanYouPrepareforLongevityandMentalIncapacityAmong
FamilyMembers? 75
PatriciaAnnino
Chapter12 HowDoYouPrepareforaGoodGoodbye? 81
KathyWiseman
SECTION3 INVESTINGWISELY 85
Chapter13 HowCanYouMakeSureYourPortfolioLinesUpwithYourActualGoals? 87
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AshvinChhabra
Chapter14 WhatReturnShouldYouExpectfromYourInvestments? 93
ChristopherBrightman
Chapter15 WhatShouldYourAssetAllocationBe? 101
JeanBrunel
Chapter16 DoesInvestingHavetoBeComplicated? 107
RobertMaynard
Chapter17 HowShouldYouUnderstandandDealwithInvestmentRisk? 115
HowardMarks
Chapter18 WhatIstheMostUsefulDefinitionofRiskforFamilyInvestors? 119
JamesGarland
Chapter19 IsActiveManagementStillWorthwhile?–I 125
CharlesEllis
Chapter20 IsActiveManagementStillWorthwhile?–II 133
RandolphCohen
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