September | 2011 | wealthymatters

Eight Principles of Strategic Wealth Management

September 15, 2011 1 Comment

Stuart E. Lucas is a fourth-generation heir to the Carnation fortune.Carnation was a family-owned business which made products like evaporated milk and non-dairy creamers before Nestle bought it in 1985.I was attracted to his book ‘ Wealth: Grow It, Protect It, Spend It and Share It’ ,because it was written by an unusual sort of financial adviser: a wealthy man with experience of managing his family’s wealth.

Personally,I’m not just interested in wealth building,but also in the ways of passing it down the generations.I was looking for some ideas on how to manage a family fortune that would hopefully grow over generations . I was looking for ideas on how to deal with family politics and the complexities arising from different temperaments and inclinations. I was looking for advice on choosing investment managers, thinking about tax strategy,goal setting in the family etc.

Here’s a summary of what I culled from the book:- Read more of this post

Filed under Theory, Tool Kit Tagged with Carnation Nestle, family office, postaday2011, RandomBlog2011, Stuart E. Lucas, Wealth: Grow It Protect It Spend It and Share It

4 Things That Keep You Poor

September 15, 2011 1 Comment

wealthymatters.com This is a link to an interview of Robert Kiyosaki by Time Magazine: http://www.youtube.com/watch?v=9scDXa-HzSI&feature=mfu_in_order&list=UL .Love the man or not, crucify him for exaggeration and oversimplification,even peddling conspiracy theories but he does often have a couple of good points.At round 1:15 in the video he makes a good point.4 things stop a person from being rich/wealthy,viz.

Taxes
Debt
Inflation
Retirement Plans Read more of this post

Filed under Theory Tagged with consumer debt, debt, Inflation, NPS account, postaday2011, RandomBlog2011, retirement plans, Robert T. Kiyosaki, tax avoidance, tax evasion, tax planning, taxes, Time Magazine, unproductive debt

6 Ways to Turn Desires into Gold

September 13, 2011 1 Comment

wealthymatters.com The following is an excerpt from Napoleon Hill’s ‘Think and Grow Rich’

The method by which desire for riches can be transmuted into its financial equivalent, consists of 6 definite, practical steps,viz:

FIRST:fix in your mind the exact amount of money you desire.It is not sufficient merely to say “I want plenty of money.”Be definite as to the amount.

SECOND:determine exactly what you intend to give in return for the money you desire (There is no such reality as ” something for nothing

THIRD:establish a definite date when you intend to possess the money you desire.

FOURTH:create a definite plan for carrying out your desire and begin at once,whether you are ready or not, to put this plan into action. Read more of this post

Filed under Tool Kit Tagged with Napoleon Hill, postaday2011, RandomBlog2011, Think and Grow Rich

www.thomasjstanley.com

September 12, 2011 1 Comment

wealthymatters.com Ever since I first read ‘The Millionaire Mind’ I’ve always been interested in the insights of its authors.Today I was lucky enough to stumble onto the thomasjstanley blog.I found the few posts I read at random pretty useful.I thought I’d record the find here and refer to it on and off and that my decisions are not wealth destroying.(http://www.thomasjstanley.com/)