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

Overview

How can you build the kind of wealth that will allow you andyour children to become the next generation of "Old Money"? InFamily Fortunes: How to Build Family Wealth and Hold on to Itfor 100 Years, father-and-son team Bill and Will Bonner presenta radical new way to look at family money along with the practicaladvice you need to build—and maintain—multigenerationalwealth.

To construct a legacy that will last, you need to forgeteverything you think you know about what it means to...

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

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Overview

How can you build the kind of wealth that will allow you andyour children to become the next generation of "Old Money"? InFamily Fortunes: How to Build Family Wealth and Hold on to Itfor 100 Years, father-and-son team Bill and Will Bonner presenta radical new way to look at family money along with the practicaladvice you need to build—and maintain—multigenerationalwealth.

To construct a legacy that will last, you need to forgeteverything you think you know about what it means to be rich (evenif you already are). Big houses? Flashy cars? Not so fast. Keepingmoney in the family involves putting in more hard work, not havingmore fun. It's a constant challenge, but the benefits can behuge.

Rejecting much of the common wisdom associated with buildingfamily wealth—from the mistaken belief that withholding moneyfrom your kids will somehow toughen them up to why putting yourfaith in professional money managers is never a goodidea—Family Fortunes presents a game-changing new lookat family, money, and how the two can come together in exciting,potentially life-altering ways. To reap the enormous potentialrewards of multigenerational wealth, families need to worktogether, and think about the long term when it comes to investingand other moneymaking opportunities.

Comprehensive and accessible, Family Fortunes shows youhow to establish a lasting estate by training and motivating yourrelations to work toward the preservation and growth of both assetsand a family business. Filled with invaluable advice for makingmoney and keeping it in the family interwoven with anecdotes aboutthe authors' own family's wealth philosophy and practices, the bookillustrates why family money is the most dynamic, forward-lookingcapital in the world, and how your family can cash in on it forgenerations to come.

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Product Details

  • ISBN-13: 9781118171417
  • Publisher: Wiley
  • Publication date: 7/31/2012
  • Series: Agora Series, #77
  • Edition number: 1
  • Pages: 352
  • Sales rank: 329,090
  • Product dimensions: 6.00 (w) x 9.10 (h) x 1.30 (d)

Meet the Author

BILL BONNER is President and CEO of Agora Publishing, oneof the world's largest financial newsletter companies. He is thecreator of the Daily Reckoning, a financial newsletter withmore than 540,000 readers of six different global daily editions,including French and German. Bonner is coauthor of theinternational bestsellers Financial Reckoning Day andEmpire of Debt with Addison Wiggin, as well as Mobs,Messiahs, and Markets (coauthored with Lila Rajiva), the NewYork Times bestseller. In 2011, he wrote Dice Have NoMemory: Big Bets and Bad Economics from Paris to the Pampas. Hefiles his Daily Reckoning dispatches from a ranch inArgentina, the home office in Maryland, various joint ventures, andother hot spots around the globe.

WILL BONNER is Executive Director of the Bonner &Partners Family Office, an independent estate planning andinvestment research group. Will got his start working in the"mailroom" of the family business, Agora, at age eleven. Later, hehelped launch, and served as CEO of Early to Rise, a leadingself-improvement publishing business. In 2007, he opened Agora'sSouth American office in Buenos Aires, Argentina, and set up asuccessful business partnership that is one of the largestinvestment 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 liveswith his wife and two children in Delray Beach, Florida. He's theeldest of Bill's six children.

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Table of Contents

Preface ix

Acknowledgments xxi

INTRODUCTION: Families That Won’t Fail and Money ThatWon’t 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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