"Wealth in Family" by Charles W. Collier

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Abstract

In this paper, the concept of wealth was taken into account. It is of common knowledge that the fungal development and the overwhelming success of world economics lead to the increase of amount of rich people all over the world. On the other hand, wealth can have both positive and negative consequences for the person’s private life. The influence of money as well as the ability to spend them in the way they can have a positive impact on the relationships of the family members, especially the relationships between parents and children, are of paramount importance nowadays. The goal of this paper was to investigate this issue by means of a review of the book “wealth in family” by charles w. collier.

Keywords: wealth, family relationships.

Nowadays, little attention is paid to such significant issue as money and their influence on family relationships as, in the contemporary society, there is a stereotype that wealth can rarely make any profound changes in the relationships between the family members, their attitude to each as well as their behavior in the family and in the society.

Charles W. Collier is one of those experienced authors who made their mind to observe this problem. First of all, it is noteworthy that a family can make their wealth work for their own benefits only in the case if all of them are aimed at the growth of each other, and this growth is not only financial one. Values in each family are more than important, and they must be preserved as much as possible. That is why the author starts with the definition of wealth and its role in the family in order to prevent any destroying of these values. In accordance with him, there are four types of wealth. For instance, the majority of people observe only financial wealth whereas human, social, and intellectual kinds of wealth are not taken into consideration. For the purpose of making each family member successful and to have a happy family, it is necessary to take into account all of them. In this case only, a personality can become even richer and to develop him/herself.

Furthermore, the purpose of wealth is more than significant. Every family should understand what their wealth is aimed at, and what benefits they have by being richer than the majority of other citizens in their country. If the family members make a right decision on this issue, in one of the chapters of the book, the author helps them to achieve the balanced approach in their family finance management. One of the issues which are touched in the book is inheritance. The author states what sums of money must be inherited by the heirs. In accordance with him, they should not take a large part of the total income. In spite of some examples which demonstrate the huge sums of money which can be earned only by millionaires and billionaires, the knowledge achieved in reading the book can be used also by ordinary people.

What is more, in one of the chapters of the book, much attention is paid to the intellectual wealth of the family. It includes such issues as resolution of conflicts and communication with other people. Both concepts are more than significant for the happiness of family. In spite of the fact they are can be considered to be everyday activities, they must be also admitted as family wealth. Communication is an inevitable part of family life as it is impossible to have a happy and a successful family without it. Furthermore, any conflicts which can be possible in the family life can not be resolved without communication so that they are closely interrelated with each other. Another evidence of the fact that intellectual wealth is prominent in the family relationship is that each conflict leads not only to the psychological pressure but also to the possible divorce. In order to prevent it the family members should ask those questions which are right, not to be judicial, and be ready to listen to the opinions of other family members.

Moreover, intellectual wealth is important for the relationships between parents and children who can have different points of view on some aspects of life. That is why the focus on the relationships between generations is present in the book. In this aspect of family life, the author one more time underscores on the importance of intellectual wealth. The so-called story-telling is one of the significant parts as it helps to strengthen the family relationships ant to notify the family values.

In conclusion, it is noteworthy to admit that the book can be useful for an abundance of people all over the world as it provides numerous helpful pieces of information. The majority of statements which are included in the book are proven by various interviews of those people who are competent in the issue under consideration.

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