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An astonishing fact is that the vast majority of the wealthy come from middle-class or working-class backgrounds. Born and raised in modest economic circumstances, they find themselves as adults in the wonderful but unfamiliar world of wealth, like immigrants to a new land. Their adjustment is often harder than they anticipate. Yet awaiting wealth’s newcomers is an even more daunting task: how to raise children and grandchildren successfully in the family’s new world of affluence. Written by a prominent wealth psychologist, Strangers in Paradise takes an innovative approach to the challenges facing wealth’s “immigrants and natives.” Combining clear reasoning with real-world stories, Strangers in Paradise outlines for the first time how the key process for families of wealth - like all immigrant families - is adaptation.
- Sales Rank: #316230 in eBooks
- Published on: 2014-02-06
- Released on: 2014-02-06
- Format: Kindle eBook
About the Author
JAMES GRUBMAN PHD is an internationally-recognized psychologist who has worked with families at all levels of wealth, from the “millionaire next door” to the Forbes 400. His commonsense insights on the psychology of wealth have been quoted in Malcolm Gladwell’s bestselling book David and Goliath as well as in The New York Times, The Wall Street Journal, CNBC, and many other print and online media. He has published widely in journals in the wealth management and financial advising fields, and he is a sought-after speaker for his knowledge about what wealthy families need and want from their trusted advisors. Strangers in Paradise is his first book written for families of wealth as well as the professionals who advise them.
Most helpful customer reviews
10 of 11 people found the following review helpful.
Essential reading for wealthy families and their advisors.
By Gary Shunk
Becoming wealthy is central to the American Dream. However, when the Dream is achieved, then what? Most books on wealth focus on investing and preserving the money. Strangers in Paradise is very different. The primary concern in this book is on the person and family of wealth. Dr. Grubman carefully addresses how to live with wealth in a whole and constructive manner now and for generations to come.
Through rigorous research and his personal face to face work with the wealthy and their advisors, Dr. Grubman has discovered, tested and applied his unique approach with great success. His central metaphor of “immigrants and natives,” guides the reader on a wisdom filled journey into the Land of Wealth. Whether wealth is acquired or inherited, there are many shadowy elements to consider. Strangers in Paradise is a guide filled with solutions to those unknowns.
Dr. Grubman is a pioneer and leading practitioner in the field of Wealth Psychology. Whether you are a wealth holder, family member or an advisor to the wealthy, this book is an indispensable guide.
5 of 5 people found the following review helpful.
for wealthy adults of all ages and circumstances
By Elizabeth Daley
James Grubman’s book has offered us a revolutionary way of looking at issues we have been dealing with for years. The concept he offers, that our wealth has taken us into new territory, has made us immigrants in a new land, resonates with us and offers us more clarity than we’ve had for assessing our lives and planning for our family’s future.
Family stories were the foundations for many of our values and beliefs. We were fascinated and moved and proud as we heard about our immigrant grandparents, their convictions, thrift, hard work and perseverance in the face of adversity. We planned to model ourselves after them even though our lives were already filled with education and opportunities that they had never had. Five years into our marriage we found ourselves to be the financial beneficiaries of their labors and accomplishments. We were suddenly living in an entirely different landscape, different than our friends and neighbors, different than our parents; we were quite alone and wandering, without a map.
Looking at ourselves as immigrants in a new land of wealth, “strangers in paradise,” is useful to us in reviewing and assessing choices that we’ve made, conflicts we’ve felt, directions we’ve taken in in light of our family stories and lessons. We can see how we’ve adapted to wealth, places where we’ve hit roadblocks, made mistakes, and found alternate routes to realize our intentions. This book helps us examine our lives with compassion, insight and humor. We’ve found it comforting and renewing to discover that we have clearly not been alone as we often thought we were.
We are reading this book because we want to be as wise, clear and helpful as possible to our children as they are charting their own courses and have become parents themselves. We think that James Grubman’s book is a valuable guide for our work. And we will pass it on to them.
3 of 3 people found the following review helpful.
A must read for advisors to wealthy families as well as the families themselves
By Randy Kaufman
As a wealth advisor, I have had the pleasure of working with Jim Grubman over the years. I know first-hand that he is a master in his field and have seen him achieve results with families that were beyond my most optimistic expectations. Now, through his insightful and thought-provoking book, others can have the pleasure of learning from Jim. The book, which is a must read for all advisors to wealthy individuals as well as the wealth-holders themselves, breaks new ground, and explains the issues wealth creators and their children face with amazing clarity and insight.
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