Wealth Psychology
"Money doesn't buy happiness — I don't believe that for a second. Money cures a lot of problems, but it creates an enormous amount of different problems."
Once financial needs are met, decisions and lifestyle are no longer money-driven; they are psychology-driven. The wealth-creator's rags-to-riches story is rarely shared by the next generation in the way the founder built it. 70% of wealthy families lose their fortune by the second generation, 90% by the third — shirtsleeves to shirtsleeves in three generations. Wealth Psychology is the reference for the practitioner having the underneath conversation: the founder afraid to retire, the next-gen who hasn't been told what's coming, the spouse who manages the household but doesn't know the trust structure, the recent widow facing the first joint return alone, the grandchild far enough from the founding to no longer share the willingness to sacrifice. The Pack is what prevents the third-generation slide. Written with input from a clinical psychologist who specializes in HNW families.
