@article {Hauser8, author = {Barbara R. Hauser}, title = {The Next Generation and the Pursuit of Happiness}, volume = {9}, number = {2}, pages = {8--13}, year = {2006}, doi = {10.3905/jwm.2006.644214}, publisher = {Institutional Investor Journals Umbrella}, abstract = {The author first observes that dealing with next-generation issues cannot be done from the perspective of a sort of {\textquotedblleft}top down{\textquotedblright} teaching, but rather that advisers can encourage members of the next generation to become confident owners (and managers) of their own wealth, so they can proceed with their personal pursuit of a happy life. Thus, once a younger family member has accepted the wealth, he or she needs to develop wealth-related skills that can be grouped into four core categories: basic accounting skills, investment skills, legal skills and skills related to philanthropy. The author suggests that family members can begin with individual {\textquotedblleft}needs analysis{\textquotedblright} inventory so that the focus can be on the weaker skills.TOPIC: Wealth management}, issn = {1534-7524}, URL = {https://jwm.pm-research.com/content/9/2/8}, eprint = {https://jwm.pm-research.com/content/9/2/8.full.pdf}, journal = {The Journal of Wealth Management} }