Summary of Staying Wealthy

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Rating

5 Overall

7 Applicability

5 Innovation

4 Style

Recommendation

Brian H. Breuel gives detailed advice about estate planning, business succession, investing, and long-term care. He argues that many wealth-eroding pitfalls can be avoided with diligent planning and professional advice. He covers common problems, including dying without a will, outdated wills, and business succession. Keeping your business’s value in your family’s hands requires planning well in advance of your retirement or death. The well-organized advice here is detailed enough to be useful to sophisticated readers. getAbstract recommends this book to anyone looking for detailed guidance about estate planning and business succession. [getAbstract note: The legal matters covered are based entirely on U.S. law.]

In this summary, you will learn

  • How to keep wealth in your family;
  • Why longer life spans have placed unexpected demands on peoples’ assets; and
  • Why being house-rich and asset-poor in retirement can be problematic.
 

About the Author

Brian Breuel has worked in financial services since 1968, including stints as a financial planner and life insurance executive. He has earned the ChFC and CLU designations. Breuel has a bachelor’s degree from Princeton, a law degree from the University of Florida, and master’s degrees in management and financial services. This is his second financial planning book.

 

Summary

Fluctuating Wealth
Everyone would love to have the problems that come with being wealthy, but they are still problems. For instance, taxflation - the combined effects of inflation, higher standards of living, and progressive taxation - is a financial pitfall unique to the wealthy. Wealth...

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Contained in Knowledge Pack:

  • Knowledge Pack
    Family Wealth
    How to solve a great problem: keeping that fortune in the family.

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