Jeffman52
Recycles dryer sheets
Why It Takes Just 3 Generations for Some to Lose Their Family Fortune - Live Wellthy - October 2018
https://www.theglobeandmail.com/glo...-how-the-cycle-can-be-broken/article33757468/
I was listening to the radio this morning and someone said that inherited wealth generally does not last beyond three generations and in many cases not even that far.
"Among the most compelling causes are younger family members who are ill-prepared or unwilling to shoulder the responsibility of wealth stewardship. They have grown up with plenty of money and are a step or two removed from the work ethic and drive of the people who made it for them."
Does this change anyone's plans on children's inheritances? I know there are tons of threads on what to do... trusts and such. But I was wondering if this gives anyone pause on whether inheritance is a blessing to the next generation or a curse.
https://www.theglobeandmail.com/glo...-how-the-cycle-can-be-broken/article33757468/
I was listening to the radio this morning and someone said that inherited wealth generally does not last beyond three generations and in many cases not even that far.
"Among the most compelling causes are younger family members who are ill-prepared or unwilling to shoulder the responsibility of wealth stewardship. They have grown up with plenty of money and are a step or two removed from the work ethic and drive of the people who made it for them."
Does this change anyone's plans on children's inheritances? I know there are tons of threads on what to do... trusts and such. But I was wondering if this gives anyone pause on whether inheritance is a blessing to the next generation or a curse.