Authors in August: Amy Castoro on Transitioning Family Wealth

Rule Breaker Investing

The Motley Fool

Business, Investing, Invest, Rulebreaker, Stocks, Company, Growth, Stockmarket, Fool, Foolish

4.5 • 928 Ratings

🗓️ 19 August 2020

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Prodigal Son. King Lear. Logan Roy. What do they have in common? They all could have used a little help from Amy Castoro, co-author of Bridging Generations: Transitioning Family Wealth and Values. Amy is here not just to help you prepare your assets for the family but to prepare your family for the assets.

Transcript

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0:00.0	So you wrote your will, great job.
0:02.9	You're one of the one third of Americans
0:05.1	who's done so.
0:06.4	You took the time to communicate to the people
0:08.6	that you love a few key things,
0:11.4	how you want to be remembered and what you want to pass on to them.
0:16.2	And you have something to pass on, great job.
0:18.6	This is something the Motley Fool's trying to help you with.
0:21.2	We're trying to make you smarter, happier, and richer. We believe that
0:24.4	anyone, no matter where your starting line was, can reach the finish line and have assets that
0:29.8	you've saved and grown. we hope through compounding returns over time, you have
0:36.9	something to pass on, great job, but I have a stark truth to share with you and in fact it's going to kick off this week's
0:45.8	podcast as I'm joined by co-author Amy Kostoro to discuss her book Bridging Generations. Here's the fact I want to share. 70% of all efforts to
0:58.8	transition wealth to the next generation fail.
1:03.0	That is to say the wealth does not continue under the control of the beneficiaries.
1:09.0	That might be because it disappears or because they lose control and if they do that's often not through
1:17.2	their own fault. Nope, it might be yours.
1:23.0	This week we're going to provide you the greatest wisdom we can find to help you transition your wealth to your next generation.
1:30.0	Given that we're all long-term players here and hope to have something to give, the operative question is,
1:35.0	will you do it well?
1:37.0	Will you be one of the 30% that succeeds?
1:42.0	How? Find out only on this week's Rule Breaker Investing.
	...

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