Anyone read "Wealth: Grow It, Protect It, Spend It and Share It" by Stuart Lucas

[titaniumboy]

Hello,

I had been reading and posting (under another name) on the REHP message board on Motley Foolback in 200 0and 2001 because I felt I was getting close to FI/RE. Due to some interesting events (!?!), I was not able to actually acheive FI/RE until I retired last summer at the age of 42.

I have been looking for books or reading material on what to do when you reach FI/RE with topics such as:

how to raise children with a work ethic
personal and portfolio protection
wills
estate planning
early withdrawal of IRA's
health insurance
umbrella insurance
retiree investing
etc.

I don't mind using professionals for these tasks, but I usually find it of great use if I can do reading prior to finding and using professionals. This reading usually lets me learn the right questions to ask and also helps to separate the true professionals from the BS artists.

Has anyone read the book "Wealth: Grow It, Protect It, Spend It and Share It" by Stuart Lucas?

Thanks for any help and thoughts.

Titaniumboy

[haha]

Originally Posted by titaniumboy

Has anyone read the book "Wealth: Grow It, Protect It, Spend It and Share It" by Stuart Lucas?

Hi Titanium- have you read this book? Let us know what you thought.

Ha

[titaniumboy]

Hi HaHa,

No, I haven't read it yet. I just bought the book from Amazon and will not receive it until Friday.

Like a dummy, I chose the longer free delivery. I'm finding it hard to shake my frugal ways even when those ways may not be the best decision.

I started doing searches for books for M-aires, but I kept finding only books geared to helping you become a M-aire. This was the only one that I found in my searches. Interestingly, Stuart Lucas not only has worked in my financial advice arena, but he is one of the descendants of the Carnation family fortune. So, at least this guy appeared to have more credentials than a lot of financial advisors.

His website - http://www.wealthstrategistnetwork.com/ - claims that he used the same techniques in helping manage his family's wealth. I am always looking for people who "eat their own cooking".

I also thought this sample chapter showed that his philosophy appeared to match my own very well, and made a lot more sense than the traditional wealth management approach. http://www.whartonsp.com/articles/ar...?p=442981&rl=1

Titaniumboy

[azanon]

A veild advertisement for this book?

Azanon

[MasterBlaster]

Originally Posted by titaniumboy

Has anyone read the book "Wealth: Grow It, Protect It, Spend It and Share It" by Stuart Lucas?

seven people have reviewed the book on amazon:

here's the link http://www.amazon.com/gp/product/013...e=UTF8&s=books

The reviewers generally thought that it was a very good book.

[Martha]

Originally Posted by titaniumboy

I have been looking for books or reading material on what to do when you reach FI/RE with topics such as:

how to raise children with a work ethic
personal and portfolio protection
wills
estate planning
early withdrawal of IRA's
health insurance
umbrella insurance
retiree investing
etc.

Welcome to the Forum.

All of these topics have been touched on here. You can use the search feature or an advanced Google search to find information. There are many posts on using 72t distributions to take money out of IRAs before you are 59.5. There are many posts on health insurance and umbrella insurance. A number of ERs here have young children. And of course, people talk about money and investing here all the time.

I think you might find out more information here on these topics than you could in any book. Plus you can vet information you find elsewhere and ask specific questions.

[haha]

Originally Posted by Azanon

A veild advertisement for this book?

Azanon

Veild and vonderful!

Ha

[ladelfina]

I thought a pretty reasonable book was "Wealth: an Owner's Manual" by Michael Stolper.

I think it may have more of what titaniumboy might be looking for in that it focuses less on getting "rich", but what to do once you are "rich."

By a financial adviser who gives lots of examples of conversations with clients and talks about how best to deal with "sudden" wealth, how to deal with families, second families, trusts, foundations, wills.. some pretty good psychological insights (and some psycho clients!). Not much on the insurance front, I don't think.