From the Inside Flap
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 buildand maintainmultigenerationalwealth.
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 wealthfrom the mistaken belief that withholding moneyfrom your kids will somehow toughen them up to why putting yourfaith in professional money managers is never a goodideaFamily 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.
From the Back Cover
"We welcome Bill and Will Bonner's radical new way of addressingthe complexities of intergenerational wealth. The traditionalapproach has a track record of losing family well-being as well asfamily wealth. It is time for fresh ideas and systems."
Susan Bradley, CFP®, Founder of SuddenMoney® Institute
The how-to guide to building a family legacy that will lastfor generationsfrom bestselling author Bill Bonner
From New York Times bestselling author Bill Bonner, andWill Bonner, comes Family Fortunes: How to Build Family Wealthand Hold on to It for 100 Years, a radical new way of lookingat family money and a practical guide to building and maintainingmultigenerational wealth.
Revelatory and contrarian, the book rejects almost everythingyou think you know about building a family legacy, from why givingyour children as much education as possible is not a goodidea to why charitable donations are generally a waste of money.Filled with real-life stories from families with money, as well asrecollections from the Bonners' own experiences, this is the onlybook you need to keep your money in the family.