The Value of Debt: How to Manage Both Sides of a Balance Sheet to Maximize Wealth - Hardcover

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A New York Times bestseller and one of the Ten Best Business Books of 2013 by WealthManagement.com, this book brings a new vision of the value of debt in the management of individual and family wealth In this groundbreaking book, author Tom Anderson argues that, despite the reflex aversion most people have to debt an aversion that is vociferously preached by most personal finance authors wealthy individuals and families, as well as their financial advisors, have everything to gain and nothing to lose by learning to think holistically about debt. Anderson explains why, if strategically deployed, debt can be of enormous long-term benefit in the management of individual and family wealth. More importantly, he schools you in time-tested strategies for using debt to steadily build wealth, to generate tax-efficient retirement income, to provide a reliable source of funds in times of crisis and financial setback, and more. * Takes a "strategic debt" approach to personal wealth management, emphasizing the need to appreciate the value of "indebted strengths" and for acquiring the tools needed to take advantage of those strengths * Addresses how to determine your optimal debt ratio, or your debt "sweet spot" * A companion website contains a proprietary tool for calculating your own optimal debt ratio, which enables you to develop a personal wealth balance sheet Offering a bold new vision of debt as a strategic asset in the management of individual and family wealth, The Value of Debt is an important resource for financial advisors, wealthy families, family offices, and professional investors.

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Praise for The Value of Debt

"While most financial firms today are able to deliver integrated solutions, truly integrated financial advice remains a scarce commodity. With The Value of Debt, Tom Anderson takes an important, balanced, and clear step toward filling this void."
—Lyle LaMothe, Senior Partner at Left Hand Logic, LLC; former Head of Merrill Lynch U.S. Wealth Management

"There are thousands of books and articles that discuss balance sheet structure and design for corporations but virtually no one is applying an academic framework to shape the dialogue for individuals. I read The Value of Debt with fascination. Tom's ideas are simple but well grounded in theory. The book will benefit many, in particular, making debt a darling rather than a dirty word."
—Mahendra Gupta, Dean, Olin Business School, Washington University in St. Louis

"This book applies fundamental concepts from corporate finance to personal finance. Tom Anderson provides an accessible and persuasive discussion of why and how debt should be an important tool in personal financial management. The sophisticated financial reader will gain many useful ideas, and enjoy the rigorous discussion of the tradeoffs and applications of Anderson's ideas. This book represents a significant step forward for financial advisors. Highly recommended."
—Michael Gibbs, Faculty Director, Executive MBA Program; Clinical Professor of Economics, The University of Chicago Booth School of Business

"The holistic approach presented in The Value of Debt provides an assortment of tools that transcend all aspects of your personal financial life. It will challenge your preconceived notions and encourage you to approach your financial life in a more cohesive way."
—Bill King, Chief Investment Officer, Carrington Capital Management, LLC

"I found the book to be extremely readable, technically accurate as well as very provocative for those of us who are conservative in our use of debt."
—Eliot Protsch, Retired Chief Financial Officer, Alliant Energy

"Tom has written a very interesting and thought-provoking book about an area of wealth management that not many others even think about. Capturing the spread is what business is all about and creating value vs. destroying value at the end of the day is what creates earnings per share. The Value of Debt challenges the conventional wisdom that all debt is bad."
—Jim Hoffman, Chairman, YRCW

"An impressive achievement that can drive important conversations between clients and advisors."
—Stephen E. Vanourny, Global Head of Strategy, State Street Corporation