Beyond Success: Building a Personal, Financial, and Philanthropic Legacy

by Randy Ottinger

Overview

You've worked hard to achieve financial success, and now you want to leave a legacy. You want to know how others like you have made a positive impact with their time and assets. You want to safeguard your money, help others, and do the best for your children-without ruining their motivation to make their own way in the world. But ultimately, you want your contributions to matter.

Beyond Success is the first thorough guide that assists individuals with the achievement of a meaningful and lasting financial, philanthropic, and generational family legacy. As a financial and philanthropic expert, Randall Ottinger combines his personal experiences in both fields with extensive research that draws on insights from hundreds of legacy leaders such as Bill Gates Sr., Jeff Brotman of Costco, and Sandy Weill of Citigroup, as well as thought leaders and advisors in the philanthropy and family wealth professions.

Ottinger reveals best practices and strategies you can adopt to:

• Turn money into a meaningful and fulfilling legacy
• Make wealth a positive force in your family
• Avoid the common pitfalls of family wealth transfers
• Prepare children for money
• Achieve social impact through “portfolio” philanthropy practices
• Preserve wealth, values, and enterprises across future generations

Ottinger develops a legacy planning framework to help translate your goals into measurable action steps for achieving the highest levels of personal fulfillment and social impact. He also provides insights into the latest trends in philanthropy, and examines the likely impact on the civil sector of the $100 trillion of wealth that is transferring from today's baby boomers to future generations.

Product Details

ISBN-13:	9780071595827
Publisher:	McGraw Hill LLC
Publication date:	10/05/2007
Sold by:	Barnes & Noble
Format:	eBook
Pages:	320
File size:	701 KB

About the Author

Randall J. Ottinger has been a leader in business, social entrepreneurship, and philanthropy for over 25 years. He is a former high-tech executive and a past Senior Vice President for Bank of America in its Private Bank, where he was involved in their family office initiatives. Mr. Ottinger is the founder of LMR Advisors, a wealth and philanthropy consulting firm, where he advises wealthy clients and financial firms on best wealth, philanthropy, and legacy practices. He is also an active member of Young President's Organization, Advisors In Philanthropy, and Social Venture Partners, as well as a graduate of Cornell University and Harvard Business School.

Table of Contents

Foreword     xv
Preface: More Than 'Just Passing Through"     xvii
Acknowledgments     xxiii
Introduction: Building a Personal Legacy Out of a {dollar}100 Trillion Megatrend     1
The Journey Beyond Success-To Significance     11
Section: Crossing the Wealth Divide     13
The Success Junction     19
The Significance Junction     31
The Generational Junction     43
Section: Navigating the Valleys Where Things Go Wrong     53
Leadership Valleys     57
Family Valleys     65
Adviser Valleys     73
Section: Climbing the Mountains to Legacy Excellence     83
Summiting the Wealth Mountains     95
Summiting the Philanthropy Mountains     103
Summiting the Family Mountains     113
Road Map for Legacy Leaders     123
Section: Self-Actualization Practices     129
Practice 1: Pulling Off the Road and Visioning Your Purpose     133
Practice 2: Researching the Terrain and Developing a Route Map     141
Building a Plan for Self-Actualization     153
Section: Social Impact Practices     171
Practice 3: Applying Your Learned and Innate Skills Close to Home     175
Practice 4: Packing More than Your Wallet and Keys     185
Practice 5: Acting with Others     195
Building a Plan for Social Impact     205
Section: Generational Family Practices     217
Practice 6: Preparing Others to Take the Wheel     221
Practice 7: Constructing Family Communication Lines and Bridges     233
Practice 8: Building a Brain Trust     243
Building A Plan for Generations     253
Doing Well and Doing Good-Industry Transformations     277
The Transformation of Philanthropy     281
The Transformation of the Wealth Advisory Industry     297
Endnotes     307
Index     317