There are now millions of millionaires in the U.S. But if you've gotten there, or want to get there, what then?A. Michael Upper, the analyst who invented the Upper Averages for mutual funds, addresses the growing need for the wealthy to understand how to think about their wealth as a guide to how to invest it, spend it and leave it to their descendants. Using insights gained from three decades on Wall Street, he shows that wealth is a state of mind as much as the size of a bank account, and gaining wealth and keeping it can be two different skills. With the luxury of time and resources - and the wisdom of Mr. Upper's experience - investors can make sound financial choices for themselves and their heirs. Learn to determine which of seven types of investor you are - absolute; confident; uncertain; relative; fiduciary; bored; or guilty. Put risk to work for you, rather than fear risk. Develop a personal balance sheet matching often-ignored assets, such as the worth of your career, with often-ignored liabilities, such as your likely longevity.
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A. Michael Lipper founded Lipper Analytical Services Inc., the preeminent provider of unbiased comparisons of fund performance and management in the United States. He is now the president of Lipper Advisory Services, Inc., and Lipper Consulting Services, Inc.
Douglas R. Sease is the former “Money & Markets” editor for The Wall Street Journal and a veteran financial journalist.
Do You Use Your Wealth Wisely?
A. Michael Lipper, the analyst who helped develop the Lipper Indices for mutual funds, addresses the growing need for the wealthy to understand how to think about their wealth as a guide to how to invest it, spend it, and leave it to their descendants. Using insights gained from four decades on Wall Street, he shows that wealth is a state of mind as much as the size of a bank account, and gaining wealth and keeping it can be two different skills. With the luxury of time and resources and the wisdom of Mike Lipper's experience investors can make sound financial choices for themselves and their heirs.
Topics include:
- How to match your hard and soft assets your true net worth with your hard and soft liabilities in a personal balance sheet
- How to put risk to work for you
- How to find the right investment advisors and how to advise them correctly to serve your needs
- How to determine your investor personality. Are you an Absolute Investor, a Confident Investor, an Uncertain Investor, a Relative Investor, a Fiduciary Investor, a Bored Investor, a Guilty Investor, a Financial Death-Wish Investors, or a Paralytic Investor?
In this wise and witty volume, legendary investment advisor Mike Lipper helps you explore and define your motives and needs in investing, identify your investment personality, and above all challenges you to think about investing, money, and your life in fresh and rewarding ways.
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