Family Fortunes / Agora Series (ePub)

Selected as one of Motley Fool's "5 Great
Books You Should Read"

Advice on managing your wealth from bestselling author Bill
Bonner

From trusted New 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 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.