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Family Fortunes Audiobook

Family Fortunes: How to Build Family Wealth and Hold on to It for 100 Years

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Publisher's Summary

Advice on managing your wealth from best-selling author Bill Bonner.

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.

Download the accompanying reference guide.

©2012 Bill Bonner and Will Bonner (P)2012 Audible, Inc.

What Members Say

Average Customer Rating

4.2 (101 )
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Performance
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  •  
    Victoria 10-30-12
    Victoria 10-30-12 Listener Since 2008
    HELPFUL VOTES
    19
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    "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?


    19 of 25 people found this review helpful
  •  
    Jean Le Lupi New York City 12-02-12
    Jean Le Lupi New York City 12-02-12 Member Since 2016
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    "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.

    6 of 8 people found this review helpful
  •  
    Paul Frew Vancouver, BC 02-19-16
    Paul Frew Vancouver, BC 02-19-16 Member Since 2015

    Surfer, musician, business coach, healthcare facilities management director.

    HELPFUL VOTES
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    "Excellent...surprisingly refreshing!!!"

    I REALLY enjoyed this book. I was surprised at how non-mainstream the ideas are, and also how sensible. Not everyone will want to implement all the components described, but as a family fortune grows, they will become more and more important. The long term perspective is fantastic, and could be applied to leaving a legacy in other areas besides wealth.

    1 of 1 people found this review helpful
  •  
    Lewis E. Weil Austin, TX 05-06-15
    Lewis E. Weil Austin, TX 05-06-15
    HELPFUL VOTES
    5
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    "Like an Awkward Thanksgiving"
    This book wasn’t for you, but who do you think might enjoy it more?

    Contrarians.


    What do you think your next listen will be?

    Great courses.


    Did the narration match the pace of the story?

    Most of the time.


    What character would you cut from Family Fortunes?

    Non-fiction, no characters.


    Any additional comments?

    I have been reading and listening to books on family wealth, trusts and dynasties. The title was promising. It has some good advice, nothing revolutionary though. Most of the book is like listening to a grouchy uncle at Thanksgiving who wants to tell you why the government and young people are stupid.It has lots of setup and exposition. A lot of predictions. Very little fact based advice. Listen to James Hughes books if you want to learn about family wealth.

    5 of 7 people found this review helpful
  •  
    Cynthea Wellings 03-07-13
    HELPFUL VOTES
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    "Excellent and Very Helpful"

    This book gave me much enlightenment about the management of family assets. I had never thought about these issues to this extent before. In some ways the book has given me a real sense of urgency to actually address this important issue.

    Overall, I found the book to be exceptionally helpful. This is without doubt, the best summary of asset management for families that I have come across. Well done.

    3 of 4 people found this review helpful
  •  
    BKH 07-17-16
    BKH 07-17-16 Listener Since 2009
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    "Fantastic!"

    Great listen. Really a must listen. Bill and Will do an amazing job on explaining the false truths of money, wealth and passing it on. More importantly they talk about family and characteristics of building a strong family. It doesn't matter if you don't want to be wealthy you should read or listen to have a stronger family and learn how your being taken advantage of.

    0 of 0 people found this review helpful
  •  
    Fred 05-18-16
    Fred 05-18-16 Member Since 2016
    HELPFUL VOTES
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    "A read that was long overdue."

    I enjoyed this book. There are a lot of stories and advice in is book that I will look to incorporate into my family in the hopes of creating a real family fortune. Good book, I recommend it.

    0 of 0 people found this review helpful
  •  
    Adriana 05-17-16
    Adriana 05-17-16 Member Since 2016
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    "Rich idiots"

    Some insight may be helpful but basically a bunch of pompous assholes wrote a book of generalized advice on how to accumulate family fotunes

    0 of 0 people found this review helpful
  •  
    David BC, Canada 05-15-16
    David BC, Canada 05-15-16 Member Since 2014
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    "Interesting Read"

    I thought the author did a decent job, although, like all wealth building books there is no silver bullet

    0 of 0 people found this review helpful
  •  
    TasteeWheat 04-08-16
    TasteeWheat 04-08-16 Member Since 2015
    HELPFUL VOTES
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    "Glenn Beck & Ted Cruz made up a book on finance"

    Logical fallacies galore & weak arguments often based on little more than "that's just what we think" will make this difficult to get through.

    If you are a fan of far right ideology and enjoy being told poorly constructed arguments that often are not even complete then you will love this book.

    If you have even the smallest amount of critical thinking skills then save yourself the agony of listening to these charlatans' ideas.

    0 of 0 people found this review helpful

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