The book delves into every known wealth destruction threat.
What affects your personal finances more: a downturn in the economy or a personal disability? Most likely, the latter. But if you see the number of people glued to their TVs, studying the streaming stock prices, you would think the economy is more important. So, a Sensex slide of 100 points seems more important than a change in law that makes dividends tax-free in your hands. In a well-researched book, Jarvis and Mandell take these contradictions head on: "People focus on the macro economy..., rather than paying proper attention to their own personal economy." As a result, "Many of us succumb to the uneasiness surrounding the volatility of the market, which... makes us feel powerless to change our own wealth protection situation."
‘Wealth protection’ is a new term in a country that’s only now learning to deal with wealth creation. It is such a vast and deep subject that one wonders if the personal economies of our future generations will be like those of complex mid-sized enterprises that manage more than Rs 100 crore. From tax-saving entities to forming trusts so that the inheritors of your wealth are not burdened, from using insurance as an estate planning tool to buy-sell agreements, the book delves into every known wealth destruction threat.
Book review in Outlook Money