cover image Wealth: Grow It, Protect It, Spend It and Share It

Wealth: Grow It, Protect It, Spend It and Share It

Stuart E. Lucas, . . Pearson/Wharton, $24.99 (356pp) ISBN 978-0-13-236679-3

Wealth: those who have it want to keep it, but what's the best way to ensure it doesn't run dry? Lucas is ideally suited to answer the question. A Harvard Business School graduate who's worked at wealth management firms, and a fourth-generation heir of E.A. Stuart, the founder of the Carnation Company, Lucas counsels readers who have, or are planning to have, at least a few hundred thousand dollars in the bank. His book teaches them to manage their wealth so it grows, or is at least maintained, for as long as they want, whether that's one lifetime or several generations. Lucas focuses principally on investing decisions, spending decisions (like whether to engage in philanthropy) and emotional issues. He provides a good balance of in-depth financial guidance and tips on negotiating financial decisions in the family. Though the subject is dry, Lucas keeps the book interesting by using examples taken from his own family's experience with fortune, a tactic that lends both credibility and intimacy to his advice. With its frequent plunges into the minutiae of investment options, this book is definitely not light reading. It is, however, a helpful guidebook for those faced with the task of growing, protecting, spending and sharing a large amount of cash. (Mar.)