by Stuart E Lucas
A Review of Wealth (Grow It, Protect It, Spend It and Share It)
Is “Wealth” one of the best investor books for understanding personal investment strategy?
Wealth (Grow it, protect it, spend it & share it) by Stuart E. Lucas is one of the best books on how to view your personal investment strategy. Admittedly it has been written by a man whose family gained one billion US dollars from the sale of the Carnation condensed milk organisation, but despite this unusual background the personal investment strategy techniques in this book can be applied to all investors.
Wealth Management Investment Themes for the Personal Investor
In our opinion the following four themes are contained within this Wealth book for the investor:
- Wealth Management “Eight principles of Strategic Wealth Management”
- Wealth Management “Know your personal family values for investment”
- Wealth Management: Know your investment tactics and indexing strategy
- Wealth Management: Understand the value you gain from financial costs
Each of these investment themes for the investor is covered below.
1. Wealth Management: Eight Principles of Strategic Wealth Management
The book on wealth explains how the eight principles can be applied to the investor’s family assets in order to grow its value. The eight principles for the investor are:
- Take charge and do it early.
- Align family and business interests around wealth-building goals and strategies.
- Create a culture of accountability.
- Capitalize on your family’s combined resources.
- Delegate, empower, and respect independence.
- Diversify but focus.
- Err on the side of simplicity where possible.
- Develop future family leaders with strong wealth management skills.
2. Wealth Management: Know Your Personal Family Values for Investment
Every wealth investor needs to be realistic and honest about their family values and their reasons for investing. The investor needs to be clear on this to help define the investor’s success. What balance does the investor want between protecting it, spending it, and sharing it.
3. Wealth Management: Know Your Investment Tactics and Indexing Strategy
Wealth reinforces the importance to the investor of having a clear tactical and long-term investment strategy. It explains the importance of short-term or long-term financial gain for spending purposes.
4. Wealth Management: Understand the Value You Gain From Financial Costs
Wealth emphasises the importance of understanding what you are paying for when you spend money on financial costs, such as financial advisors and fund administration costs.
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