Wealth Management in the New Economy

A practical guide to managing wealth in modern times Wealth Management in the New Economy addresses a wide array of wealth management topics and established financial theories. Author Norbert Mindel has successfully advised his clients for more than three decades in the business. Now, with this new book, he shares the wisdom he has acquired and offers valuable insights into successful wealth management in an economy that has changed dramatically over the past year. Along the way, Mindel explores the essential aspects of this discipline, including the keys to wealth creation, properly managing risk, asset protection, planning for a prosperous retirement, and many other issues that you need to understand in order to survive and flourish in today's economy. While market forces are far too complex to be fully predicted or exploited, it is still possible to protect and grow your-or your client's-wealth. Wealth Management in the New Economy will show you how to achieve this important goal. Reveals how you can reduce market risk by using proven theories of portfolio management Written by accomplished financial advisor, attorney, and CPA Norbert Mindel Lays out strategies wealth managers and investors both can use to protect and grow wealth in the new economy For practical financial guidance you can count on, look no further than Wealth Management in the New Economy.

Preface vii Acknowledgments xiii Introduction 1 Part I Evolution of a Wealth Manager: My History, World, Experience, Clients, and Company 11 Chapter 1 Starting Out 13 Chapter 2 A Decade of Active Management 31 Chapter 3 Working with Individual Investors 53 Part II Investments and Managing Risk 75 Chapter 4 The Futility of Active Management 77 Chapter 5 The Academic Background 91 Chapter 6 Implementing the Strategy 125 Part III Managing Your Retirement 163 Chapter 7 Planning for Your Retirement and Creating Income for Life 165 Chapter 8 Using Annuities as an Income Tool 171 Chapter 9 Using IRAs and Company Retirement Plans 191 Part IV Wealth Protection: Facing a World of Risk 213 Chapter 10 Best Uses for Life Insurance 215 Chapter 11 The Importance of Long-Term-Care Insurance 241 Part V Transferring Wealth and the Next Generation 251 Chapter 12 Transferring Wealth with Estate Planning 253 Chapter 13 Transferring Wealth within the Family: Inheritance Issues for Family Businesses 281 Epilogue 293 Notes 295 About the Authors 303 Index 307