Amazing Money Management Book: Strangers In Paradise

 

Recently, a friend suggested that we read Strangers in Paradise: How Families Adapt to Wealth Across Generations by James Grubman, Ph.D. Reading it was one of the best decision I have ever made.

 

THE BOOK:

Strangers in Paradise: How Families Adapt to Wealth Across Generations

THE AUTHOR:

James Grubman, Ph.D.

WHO IT IS WRITTEN FOR:

  • PEOPLE WHO WANT TO GET RICH AND STAY RICH
  • PEOPLE WHO HAVE BECOME WEALTHY AND WANT FUTURE GENERATIONS TO BENEFIT

Grubman points out that vast majority of the wealthy come from middle-class or working-class backgrounds. These people who were born without money, often grow up and find a way to provide for themselves and to gain resources that they did not have growing up. They often find it difficult to adjust to having money. They find it hard to deal with friends and family and their success is an “elephant in the room.” This is a book for all of the people who work hard and have to figure out how what to do when someone calls you “rich” or how to handle situations in which you find yourself making more money than those around you.

Handling their children and grandchildren and teaching them about wealth or how to fit in is an even bigger challenge.

If you are someone like this, you should consider reading this book.

WHO IS TALKING ABOUT IT:

Malcolm Gladwell discusses it in his own book, David and Goliath.

WHAT IS THE BOOK ABOUT:

Written by a prominent wealth psychologist, this book compares the concept of wealth to a country that people live in and immigrate to. There are fascinating parallels that can be explored using this analogy. It intermixes real experiences and concepts to help readers understand wealth, how people can immigrate to that mythical land and how they can also be deported.  It discusses how to cope, the fact that any country is filled with all sorts of different people who are trying to find their way or who may be doing very well, all in completely different ways. The reader is reminded that a person who perceives the US might perceive the inhabitants to be homogenous, but in fact, a New Yorker is far different than someone in Iowa or Alabama. This book is about making money and keeping it.  It is about planning for future generations to understand wealth and keep it.  It discusses how families who were once wealthy can quickly lose their wealth, especially when assets are split between children, diluting wealth.

WHERE TO BUY IT:

AMAZON.COM: Get Strangers in Paradise

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