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Family Fortunes: How to Build Family Wealth and Hold on to It for 100 Years | [Bill Bonner, Will Bonner]

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

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.
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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

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  •  
    Mitch Buena Park, CA, United States 12-02-12
    Mitch Buena Park, CA, United States 12-02-12 Member Since 2002

    I am a documentary film producer from Los Angeles.

    HELPFUL VOTES
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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.

    3 of 3 people found this review helpful
  •  
    Cynthea Wellings 03-07-13 Member Since 2008
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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.

    2 of 2 people found this review helpful
  •  
    Devon Woods Spartanburg, SC USA 02-01-13
    Devon Woods Spartanburg, SC USA 02-01-13 Member Since 2012
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    "Very insightful!"

    This was one of the most insightful and enlightening audio books that I have listened to. It explains the why and how people lose wealth as well as how to avoid losing it all. I highly recommend.

    1 of 1 people found this review helpful
  •  
    Victoria 10-30-12
    Victoria 10-30-12 Member Since 2008
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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?


    11 of 16 people found this review helpful
  •  
    Tsz Hong Kong, Hong Kong 05-27-13
    Tsz Hong Kong, Hong Kong 05-27-13
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    "Okay but repetitive"
    Would you listen to Family Fortunes again? Why?

    No. Very repetitive


    What was one of the most memorable moments of Family Fortunes?

    Advising that financial ad visors are not trust worthy.


    Which scene was your favorite?

    None


    Was this a book you wanted to listen to all in one sitting?

    No. Very repetitive


    Any additional comments?

    Boring. very long

    0 of 2 people found this review helpful
  •  
    Pallavi Newark, NJ, United States 12-11-12
    Pallavi Newark, NJ, United States 12-11-12
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    What did you like best about Family Fortunes? What did you like least?

    test test test testtest testtest testtest testtest testtest testtest testtest testtest testtest testtest testtest testtest testtest testtest testtest test


    How would you have changed the story to make it more enjoyable?

    testtesttesttesttesttesttesttest


    Did Brett Barry do a good job differentiating all the characters? How?

    testtesttesttesttesttesttesttest


    What did you take away from Family Fortunes that you can apply to your work?

    testtesttesttesttesttesttesttest


    Any additional comments?

    testtesttesttesttesttesttesttest

    0 of 5 people found this review helpful
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