The old adage of wealth going “shirtsleeves to shirtsleeves in three generations” is called to mind by today’s news story of Elvis’s granddaughter trying to save Graceland from foreclosure.
It’s cited that 90% of wealth is lost by the third generation, and the pattern is typically (if reductively) cited that Gen 1 are the builders, Gen 2 are the maintainers, and Gen 3 are the squanderers.
What have members here seen play out?
It’s cited that 90% of wealth is lost by the third generation, and the pattern is typically (if reductively) cited that Gen 1 are the builders, Gen 2 are the maintainers, and Gen 3 are the squanderers.
What have members here seen play out?