Reference no: EM133115955

For purposes of this "Ice-Breaker" consider you've just been told a long, lost relative left you $1 million. But you can only get it by showing that you're capable of managing such a large amount of money. Your relative is concerned that you might just blow the fortune, instead of using it to build a foundation of wealth for you and your future heirs. They stipulate that in order for you to receive the inheritance, you have to describe how you will gather information about managing wealth and how you would act on the information you gather. You only have 2 options for each, and you have to be specific in explaining why you'd choose either option for each.

1) You have to describe how you'd get information to learn how to manage wealth. Would you go out and meet and talk to wealthy people to learn how they manage wealth OR would you go to the library and take out a bunch of books that discuss wealth and strategies for preserving it?

2) You have to describe how you'd use the information you acquired to manage wealth. Would you immediately implement some of the strategies you learned to get a feel for what its like, let's go out and open a account to start investing in stocks OR would you take time to consider the various strategies you learned to see how they achieve goals and how they're the same or different, and what the various risks in them are?

Starting a new thread, tell us which of the 2 options for questions 1 and 2 you'd use and why.