“We're tainted by the worldview and the wish fulfillment about wealthy people and feelings about what is fair and good in life.”
Dennis Jaffe and Jim Grubman take on the dilemmas faced by inheritors and those who acquire wealth in a seminal paper in the psychology of wealth back in 2007. We discuss historical ways people have looked at money in families, how individuals cope with inheritance and how entrepreneurs adjust to their new lives after success. They introduce the concept of Wealth 3.0, which is a new way of thinking about family money as not purely destructive. Dennis and Jim are two of the most thoughtful people I have ever met in the family office and family wealth world, and I encourage you to check out their great books listed below.
WEBSITE for Dennis: https://dennisjaffe.com
READ Dennis at Forbes: https://www.forbes.com/sites/dennisjaffe/
WEBSITE for Jim: https://jamesgrubman.com
PAPER - The Acquirer’s and Inheritors Dilemma: https://jfn.org.il/wp-content/uploads/2022/04/Acquirers-and-Inheritors-Dilemma-Discovering-Life-Purpose-and-Building-Personal-Identity-in-the-Presence-of-Wealth.pdf
BOOK - Cross Cultures - How Global Families Negotiate Change Across Generations
by Dennis Jaffe and James Grubman
BOOK - Strangers in Paradise - How Families Adapt to Wealth Across Generations
by James Grubman
BOOK - Borrowed from your Grandchildren - The Evolution of 100-Year Family Enterprises
by Dennis Jaffe
