How to Build Family Wealth and Hold on to It for 100 Years
Selected as one of Motley Fool’s “5 GreatBooks You Should Read”
Advice on managing your wealth from bestselling author BillBonner
From trusted New York Times bestselling author BillBonner comes a radical new way to look at family money and apractical, actionable guide to getting and maintainingmultigenerational wealth. Family Fortunes: How to Build FamilyWealth and Hold on to It for 100 Years is packed with usefulinformation, interwoven with Bonner's stories about his ownfamily's wealth philosophy and practices.
A comprehensive guide that shows how families can successfullypreserve their estates by ignoring most of what people think theyknow about "the rich" and, instead, training and motivating allfamily members to work together toward a very uncommon goal. Thisbook is a must-read for all individual investors—even thosewho do not plan to leave money to their children—because itchallenges many of the most ubiquitous principles and rules ofinvesting.
You might expect a book on family wealth to be extremelyconservative in its outlook. Instead, the Bonners announce what ispractically 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, orworse
- Why it is NOT a good idea to let children go their own way
- Why you can't trust wealth "professionals" and why you shouldnever entrust your money to money managers
- Why giving your children as much education as possible is NOT agood idea
- Why Warren Buffett and the rest of the rich people asking forhigher tax rates are wrong to take "the pledge"
- Why Wall Street is a graveyard for capital, why most celebrityCEOs are a threat to the businesses they run, why modern capitalismis a failure, and more
You will come away with a very different idea as to what familywealth is all about. It is not stodgy. Not boring. Not moss-backedand reactionary. On the contrary, it is the most dynamic,forward-looking capital in the world. The essential guide topassing wealth from one generation to the next, FamilyFortunes is filled with concrete, practical advice you can putto use right away.
336 pages; ISBN 9781118239872
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Title: Family Fortunes
Author: Bill Bonner; Will Bonner