Summary of Frazer Rice's Wealth, Actually

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 If your parents aren't prepared to teach you about money, ask them to find someone who is. If they're unwilling or unable to help you, start learning on your own. Money is a skill you will use for the rest of your life. It’ll save you a lot of heartache to not only understand it but to be able to apply it in real life situations. Money is something you can control, and its power can be used for good or evil. You can use it for selfishness or for generosity. It’s a wonderful thing, and how you choose to use it defines who you are. -> Money is a skill that will serve you well throughout your life. It is something you can control, and its use can be used for good or evil. It's a wonderful thing, and how you choose to use it defines who you are.

#2 Money is a skill you’ll use for the rest of your life. Its use can be used for good or evil. It’s a wonderful thing, and how you choose to use it defines who you are.

#3 The How Much Do You Cost component helps you determine how much income a client needs to support their desired lifestyle. The distinction between liquid and illiquid wealth helps you determine the type of wealth each person has.

#4 Liquidity is defined as how easy it is to convert an asset into cash. The How Much Do You Cost component helps you determine how much income a client needs to support their desired lifestyle.

• Language: English
• Publisher: IRB Media
• Release date: Sep 15, 2022
• ISBN: 9798350029178

IRB Media

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Insights on Frazer Rice's Wealth Actually

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 1

#1

Having a father who inherited a large sum of money, but was not sophisticated beyond his taste in cruising yachts and high-end real estate, sent his son to consult with me. Jimmy wanted to know if he was rich.

#2

To be rich, you must have enough money so that you don’t have to work anymore. However, different people define rich differently. To determine whether you’re rich by your standards, you must do a bit more analysis.

#3

The first question I ask clients is what income level they’re used to. The answer to that question helps me determine the amount of assets they have and whether their expectations of their future lifestyle can be supported by their asset base.

#4

Liquidity is the