Kids, Wealth, and Consequences (Hardcover)

Ensuring a Responsible Financial Future for the Next Generation (Bloomberg #39)

By Richard a. Morris, Jayne A. Pearl, James E. Hughes (Foreword by)

Bloomberg Press, 9781576603482, 272pp.

Publication Date: February 17, 2010

List Price: 34.95*
* Individual store prices may vary.


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.

Kids, Wealth, and Consequences
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.

Richard Morris spent many years working for his family's multimillion dollar business, and learned firsthand the challenges of business ownership and family wealth.

Jayne Pearl is an experienced journalist who writes about families, family businesses, and money.

About the Author

Richard A. Morris is principal of Resource for Ownership Intelligence (ROI) Consulting, which helps family-business owners pass their businesses to subsequent generations. He is also an adjunct professor at Lake Forest Graduate School of Management. Morris has been quoted in numerous media and is a frequent contributor to various business publications. He received his MBA from Northwestern University. He lives in Chicago. Jayne A. Pearl has been a financial journalist for nearly thirty years, focusing on family business and advising parents about children and money. She has been quoted extensively in print and television media. She was a senior editor at Family Business magazine and also worked at Forbes. Pearl is the author of Kids and Money. She lives in Amherst, Massachusetts.