Family Wealth blog

The Family Wealth Reader

Several stacks of white books at increasing heights from left to right. The title reads "The Family Wealth Reader."

An informed investor is a smart investor. So, we’re taking a break this week from our usual financial, investment, and retirement topics to play the role of book curator.

There are hundreds of books on investing and money management available today, but this short list is meant to point out books that connect with our approach to long-term investing and generational wealth. It’s a roundup of seven books with positive reviews that, not coincidentally, are meant for readers of various age groups.

“The Intelligent Investor”

by Benjamin Graham

This 1949 classic covers various investment approaches, emphasizing long-term thinking and rational moves. There’s an emphasis on thorough analysis, portfolio diversification, and buying and selling discipline. Warren Buffet read this book when he was only 19 years old1, and he’s done fairly well as an investor!

To help investors navigate the psychological aspects of investing, the book introduces the concept of Mr. Market, the irrational trader character who buys and sells based only on greed and fear (instead of knowledge). Graham advises investors to ignore Mr. Market. Instead, they should look at the underlying value of the companies they invest in. In other words, rational analysis of the company’s fundamentals should be the basis for investing decisions, not market mood swings.2

“Rich Dad Poor Dad”

by Robert Kiyosaki

As keys to wealth accumulation and financial independence, the book emphasizes financial education, asset creation, and entrepreneurial thinking. In particular, the author recommends using assets to create wealth instead of simply collecting them for one’s own use.

The book stresses that developing financial intelligence allows you to come up with creative ways to solve financial problems, then vet the ones that are more likely to be successful. Another interesting takeaway from the book: knowledge compounds in as powerful a way as interest and investments can. For example, by improving financial knowledge just 1% per day, one can achieve huge results in comparison with a person who fails to put in the effort. What’s more, the faster you can use and leverage your knowledge, the faster the “knowledge returns” will compound.3

“The Millionaire Next Door”

by Thomas J. Stanley and William D. Danko

This classic bestselling book reveals that most millionaires live modestly, invest wisely, and spend significantly less than they earn. It challenges popular perceptions about wealth and presents seven common traits that show up again and again among those who have accumulated wealth. These traits, which are highlighted throughout the book, can help readers make their own journey to financial success. By the way, the book’s emphasis on longer-term thinking and spending more time on financial planning aligns well with our approach to investing.4

“Family Wealth – Keeping It in the Family”

by James E. Hughes Jr.

This is the book that changed the way exceptional families think about their heritage, their wealth, and their legacy. It emphasizes family values, goals, and practices for preserving wealth. As well as providing practical advice on how to establish effective governance structures, the book gives valuable advice on how to educate future generations about wealth management. It's a solid source of wisdom that family members can use today to benefit themselves and future generations as well.5

“Passing the Torch: Preserving Family Wealth Beyond the Third Generation”

by Ilze Alberts
Alberts’ book provides practical strategies for families to avoid the “shirtsleeves-to-shirtsleeves in three generations” curse. To preserve family wealth beyond the third generation, it emphasizes family unity, strategic planning, and education.
In Passing the Torch, high-net-worth families are taught how to nurture a strong family dynamic to be truly generational. First-generation wealth creators can learn how to build a culture of sustainability and growth and leave a legacy of prosperity for the next generation. The next generation of the family will learn how to receive the torch, sustain and grow the family's capital, and pass the torch on.6

I Want More Pizza: Real World Money Skills For High School, College, And Beyond

by Steve Burkholder

This book for teens and young adults goes well beyond the catchy title. Primary topics discussed include saving, spending, prioritization, goal setting, compound growth, investing, debt, credit cards, student loans, overcoming mental blocks, and taking real-world action in financial matters. There are dozens of examples and practical problems to work through, and the overall tone is extremely positive.7

AgeProof: Living Longer Without Running Out of Money or Breaking a Hip

by Jean Chatzky and Michael Roizen

This engaging book combines the expertise of financial expert Jean Chatzky and wellness expert Michael Roizen. The authors introduce an intriguing concept: how being healthy can actually increase wealth. Using science-backed methods, they explain how to improve health and wealth-building habits. It presents a comprehensive plan that integrates health and wealth for a fulfilling life.8

The Takeaway

These seven books offer a wealth of knowledge, from basic financial literacy to advanced investment strategies, all aimed at preserving and growing family wealth over generations.

Of course, while books can provide a wealth of knowledge about investing and financial planning in general, a financial advisor can provide personalized advice and guidance based on your unique situation and goals. Finally, while it’s a short read instead of a book, we recommend reading another blog in our Family Wealth series: “Investing for Generations.” It takes a look at some aspects of long-term investing that truly span generations.










Disclosure: This information is for educational and informative purposes and shall not be considered a specific recommendation. Readers are advised to speak with their advisor at JL Bainbridge to determine their specific recommendations that meet their investment objectives and to review their portfolios. The material being provided is thought to be accurate. However, the information is compiled from multiple resources and may become outdated or otherwise rendered incorrect by new research or corrections without notice. J.L. Bainbridge & Co., Inc., is not a broker dealer and does not offer tax or legal advice. Please consult your tax or legal advisor for assistance regarding your individual situation. It should neither be assumed that future results will be as profitable or that a loss could not be incurred. For more information related to our firm, please see our disclosure brochures at and

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