Review of: The Business of Family

The Business of Family – How to Stay Rich for Generations.

This book by Linda Davis Taylor was published in 2015. Linda Davis Taylor is a participant in a 4th generation business and has experience as an investment counselor and leader in educational institutions. She is also the parent of two grown daughters.

Summary

Ms. Taylor shows through corollary and example how running a successful business and running a family to maintain wealth across generations are similar.

She covers many of the same ideas and concepts as in James E. Hughes Jr.’s book: Family Wealth – Keeping It in the Family and in the Mark Haynes Daniell book: Strategy for the Wealthy Family – Seven Principles to Assure Riches to Riches Across Generations.

Specifically she covers:

  • Agreeing on and writing down family values,
  • Developing a family mission statement,
  • Having family meetings – with tips on how to get started as well as sample agendas,
  • Setting goals and celebrating milestones as a family,
  • Writing a family constitution including roles, responsibilities and decision making,
  • Financial literacy training for family members,
  • Talking about money between generations,
  • Mentoring family mentors,
  • Managing money and dealing with risks, and
  • Charity.

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Review of: Stock Market Pie

I’m always on the look out for books to use in my Grandma Rie’s Money Camp and this one fits the bill.

When my first Grandson was 8, I gave him a share of stock – framed so he could hang it on his wall. My Granddaughter is approaching 8 this year, so for Christmas, she will be getting a share of stock as well.

Read about one of the few places you can still get real paper stock certificates in my post How to Teach Your Kid About the Stock Market.

Stock Market Pie….Grandma Helps Emily Make a Million by J.M. Seymour will be helpful in prepping her, and reminding him, to understand stocks.

Summary

Stock Market Pie is a picture book with big ideas and grown up concept teaching. It is a blend of factual information about the market and a story about Grandma and Emily making pies. Continue reading

Review of: Once Upon a Company

Once Upon a Comany A True Story by Wendy Anderson Halperin

In Grandma Rie’s Money Camp each summer, the kids have traditionally run a one or two day business of their own – usually a drink and snack stand at the lake. The last two years I’ve tried to introduce making and selling a physical product. The in 2013 we did hand made soaps and last year they tried their hand at paper mache piggy banks.

I’ve been toying with the idea of trying to establish an ongoing company where we could make things and sell them year round – or at least on a more consistent basis.

So when I saw this book, I though it would be a good one to introduce that idea – and I think it will be! Continue reading

Review of: 25 Money Strategies Your Teachers Forgot to Tell You About

by Richard Pan copyright 2013

Summary:

This book is directed at young people just starting out. It outlines 25 money saving tricks and tips to use to begin wealth accumulation – tips that the author himself has used at just 21 years of age.

Read this book to understand and address:

Richard presents his readers with multiple different ways to approach the start of wealth building. With each, he explains not only what the tip or trick is, but also why it worked for him. Continue reading