BOOK REVIEW | Passing the Torch

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by Ilze Alberts | Wealth Psychologist, family expert , mentor, and international speaker |


Breaking the Money Curse!

How to hang on to the family fortune – beyond the third generation.

The author tackles the millennia-old money curse and focuses her attention on this issue in her book because it manifested in her family. Her father grew up with wealth, yet by the time he passed he was financially dependent on his children. Ilze is also the co-anchor of the current television series on SABC 3 TV Saving Your Marriage. Here is the link to the first episode https://www.youtube.com/watch?v=S-Htn4-Csv4

An old Scottish expression maintains that ‘the father buys, the son builds, the grandchild sells, and his son begs.’ This issue of safeguarding family wealth beyond the third generation lies at the core of Passing the Torch: Preserving Family Wealth Beyond the Third Generation.

Ilze Alberts offers powerful advice in her book on how to break and neutralise this haunting shirtsleeves-to-shirtsleeves syndrome. It is a vicious circle that has families going from nothing financially, to wealth – and then right back to lack and having to start over by the fourth generation.

So prevalent is this tragic phenomenon that there are sayings for it all over the world. The Japanese predict ‘rice paddies to rice paddies in three generations’ and in China they bluntly state ‘wealth never survives three generations’.

Small business statistics unfortunately back up these grim prophecies. Only 30 percent of family businesses built by one generation are passed on to their children and only 10 percent of such businesses reach the third generation.

In Europe families of great wealth (the Fiat automakers and Rothschild bankers) have actually lost grandchildren to untimely deaths (substance abuse) in the wake of diminished family bonds and overwhelming inherited wealth.

By sharing the gift of knowledge, human behaviour skills, financial know-how and wisdom, I’m actually sharing the gift of empowerment in all areas of life.

How to achieve lasting family wealth

Ilze Alberts believes that sound investment in human capital is the foundation on which to build. You invest in your family and their talents. Use the family wealth to hone each individual’s skill and passion – much like Sir Paul McCartney supported daughter Stella in her successful career as a fashion designer.

When family members are encouraged to realise their dreams and are endowed with education, training, support and a vision beyond personal gain, they are empowered to contribute not only to one family but mankind as a whole.

How to achieve successful human capital investment is where the Passing the Torch: Preserving Family Wealth Beyond the Third Generation offers guidance and answers. 

The world-wide benefits of lasting family wealth

This publication is not a guide to stock market money-making, rather it offers mental and spiritual insurance against a decline in family values that inevitably lead to financial loss. The buffer against financial decline comes in the form of acquired skills, purpose and a vision for each family member, which forestalls personal despair and moral disintegration.

Greater benefit is achieved with family wealth when it creates opportunities for others and renders service to society as a whole (philanthropy). Wealth that lasts empowers the cosmic family instead of just one generation of one family and can help slap back poverty world-wide.

About the author

Ilze Alberts is a Wealth Psychologist, family expert and mentor, and international speaker. Her company, Ilze Alberts Incorporated, has attracted clients such as high net-worth families, leaders of companies and political parties, and heads of prominent families. Ilze speaks at events hosted by wealth departments of banks, financial institutions, wealth conferences, and expos.

Ilze has more than 30 years of experience as a qualified Psychologist and is a Master Demartini Facilitator ™ and is the founder of Bella Vida.

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  • Publisher | Bloomberg Press / Wiley |
  • ISBN | 978-1-119-4864-2 |
  • Recommended Retail Price | R450,00 plus delivery from this link |
  • CLASSIFICATION | Investment & Human Capital |

For more information | Helen Holyoake | Helco Promotions | +27 (0)82 452 9488 mail me | 


 

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