Jump to content



Photo

70% of Rich Families Lose Their Wealth


  • Please log in to reply
No replies to this topic

#1 stocks

stocks

    Member

  • Traders-Talk User
  • 4,550 posts

Posted 08 July 2018 - 04:32 AM

70% of Rich Families Lose Their Wealth by the Second Generation 

 

When I asked financial planners why the wealthy are so poor at passing along money smarts and why second- and third-generation heirs turn out to be so ham-handed, the answers were surprisingly frank.

 

A sampling: “Most of them have no clue as to the value of money or how to handle it.” “Generation Threes are usually doomed.” “It takes the average recipient of an inheritance 19 days until they buy a new car.” 

 

 

 

http://time.com/mone...es-lose-wealth/


-- -
Defenders of the status quo are always stronger than reformers seeking change, 
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.