Howard Stevenson Interview- Family Wealth Plan Show
Wealth. It’s a nice problem to have, but the financial uncertainty inherent in today’s world means that no one can afford not to think about wealth - how you get it, manage it, and use it. Wealth and your families become even more complicated! 78% of wealthy people get their money thru creating it vs inheriting it. At least half grew up in middle class or lower middle class households. So most people did not have a silver spoon. The average inheritance is a $177k. This is a nice amount but you will not become wealthy thru inheritance.
Joining us for our discussion on Family Wealth Plan is Howard Stevenson who is calling in from his Boston MA office . Howard Stevenson’s forty-year career as a professor at the Harvard Business School included the founding of the school’s Entrepreneurial Management Program. His entrepreneurial ventures included founding and serving as the first president of the Baupost Group, Inc., a wealth management firm that now invests $29 billion for its clients. He remains involved in the investment world today, working with his son to manage investments for his family and others. Deeply committed to philanthropy as a donor and a nonprofit board member and trustee, he wrote Getting to Giving: Fundraising the Entrepreneurial Way to share his philanthropic experiences. His most cherished role is as the member of a family he describes as “wealthy enough to have real choices and complex enough to face real challenges.”
His latest book is Wealth and Families: Lessons From My Life Journey.