Beschreibung
Selected as one of Motley Fools 5 Great Books You Should Read
Advice on managing your wealth from bestselling author Bill Bonner
From trustedNew York Times bestselling 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 investorseven those who do not plan to leave money to their childrenbecause 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" investmentsWhy charitable giving is usually a waste of money, or worseWhy it is NOT a good idea to let children go their own wayWhy you can't trust wealth "professionals" and why you should never entrust your money to money managersWhy giving your children as much education as possible is NOT a good ideaWhy 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.
Autorenportrait
BILL BONNER is President and CEO of Agora Publishing, one of the world's largest financial newsletter companies. He is the creator of the Daily Reckoning, a financial newsletter with more than 540,000 readers of six different global daily editions, including French and German. Bonner is coauthor of the international bestsellersFinancial Reckoning Day andEmpire of Debt with Addison Wiggin, as well asMobs, Messiahs, and Markets (coauthored with Lila Rajiva), theNew York Times bestseller. In 2011, he wroteDice Have No Memory: Big Bets and Bad Economics from Paris to the Pampas. He files hisDaily Reckoning dispatches from a ranch in Argentina, the home office in Maryland, various joint ventures, and other hot spots around the globe.
WILL BONNER is Executive Director of the Bonner& Partners Family Office, an independent estate planning and investment research group. Will got his start working in the "mailroom" of the family business, Agora, at age eleven. Later, he helped launch, and served as CEO of Early to Rise, a leading self-improvement publishing business. In 2007, he opened Agora's South American office in Buenos Aires, Argentina, and set up a successful business partnership that is one of the largest investment research and education companies publishing in Spanish. He is a graduate of St. John's College's Great Books program, earning a double major in philosophy and mathematics. Bonner lives with his wife and two children in Delray Beach, Florida. He's the eldest of Bill's six children.
Inhalt
Preface ix
Acknowledgments xxi
Introduction: Families That Wont Fail and Money That Wont Die 1
Chapter 1 Who Ya Gonna Call? 7
Chapter 2 The Family 35
Chapter 3 What About the Money? 73
Chapter 4 Making Your Fortune in Business 119
Chapter 5 Making Your Fortune in Investments 153
Chapter 6 Our Beta Bets 191
Chapter 7 Hard Structures 215
Chapter 8 Creating Prosperity for Generations 249
Chapter 9 Families with Money 275
Chapter 10 The Family Stronghold 295
Notes 307
About the Authors 313
Index 315
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