Regular price: $24.95
Buy Now with 1 Credit
Buy Now for $24.95
From trusted New York Times best-selling author Bill Bonner comes a radical new way to look at family money and a practical, actionable guide to getting and maintaining multigenerational wealth. Family Fortunes: How to Build Family Wealth and Hold on to It for 100 Years is packed with useful information, interwoven with Bonner's stories about his own family's wealth philosophy and practices.
A comprehensive guide that shows how families can successfully preserve their estates by ignoring most of what people think they know about "the rich" and, instead, training and motivating all family members to work together toward a very uncommon goal. This book is a must-read for all individual investors—even those who do not plan to leave money to their children—because it challenges many of the most ubiquitous principles and rules of investing. You might expect a book on family wealth to be extremely conservative in its outlook. Instead, the Bonners announce what is practically a revolutionary manifesto. They explain:
Why family money should NOT be invested in "safe, conservative" investments
Why charitable giving is usually a waste of money, or worse
Why it is NOT a good idea to let children go their own way
Why you can't trust wealth "professionals" and why you should never entrust your money to money managers
Why giving your children as much education as possible is NOT a good idea
Why Warren Buffett and the rest of the rich people asking for higher tax rates are wrong to take "the pledge"
Why Wall Street is a graveyard for capital, why most celebrity CEOs are a threat to the businesses they run, why modern capitalism is a failure, and more
You will come away with a very different idea as to what family wealth is all about. It is not stodgy. Not boring. Not moss-backed and reactionary. On the contrary, it is the most dynamic, forward-looking capital in the world. The essential guide to passing wealth from one generation to the next, Family Fortunes is filled with concrete, practical advice you can put to use right away.
Customer ReviewsMost Helpful
By Jean Le Lupi on 12-02-12
Well written, well researched
The authors embark on a quest to answer a enormously complex question: How a family can achieve everlasting wealth, but more than that how can they pass the values and principles that will assure a sustainable structure for wealth preservation and creation.
I have been struggling with those questions a lot, and I have not found too many writings on the subject matter. I guess we live in the age of "right here, right now" where instant gratification precedes any sense of heritage or legacy.
It is very refreshing to find like-minded thinkers that contemplate a bigger sense of ourselves. I think that multigenerational wisdom has been essential to our evolution as specie. Imagine each one of us trying to re-invent plowing or animal raising... Where would we be?
However today, grandparents embark on cruises, parents work long hours, and the guidance of the youth is left to the TV set.
I have a lot of respect for the authors candor and their frankness in recognizing that they don’t have all the answers. At times they even expose their disagreement on certain principles.
Weather you’ll agree with the book or not, the material is guaranteed to make you think, therefore I recommend it wholeheartedly.
8 of 10 people found this review helpful
By Victoria on 10-30-12
Where is the financial advice? Indoctrination!
What disappointed you about Family Fortunes?
The title of this book suggests that you are going to be getting practical advice for long term financial planning for your family. Surprise! I'm now into the second hour and I have heard two pieces of advice: 1) delay gratification 2) have a big family and put them to work in the family business. All the rest was amateur right wing history, and I do mean amateur. We are not talking William F. Buckley here. If you like this sort of stuff, just watch Glenn Beck. Its free and you can save your precious book credit!
What could Bill Bonner and Will Bonner have done to make this a more enjoyable book for you?
Provide some actual information and advice about multi-generational financial planning.
What about Brett Barry’s performance did you like?
He did a fine job reading the book. Too bad about the drivel.
What reaction did this book spark in you? Anger, sadness, disappointment?
Are you kidding me? Also, who published this?
22 of 29 people found this review helpful