Generational wealth. What's behind the obsession?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

But isn’t part of the reason people aren’t having kids because they’re too expensive and hard to care for? I would presume money would help make it more feasible because they could outsource or a parent could stay home etc.

I gave my kids 5-6 reasons not to have children. They are well aware what made our lives difficult. It wasn't the kids being expensive or difficult and it wasn't the money.
I told them that I wish someone had reminded me that not having kids was an option. Both boys said they don't want any.

Hmmm maybe they don’t want kids because they think THEIR OWN MOM doesn’t want them! Great job, mom!

[Anonymous]

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

You havent looked at the data. Birth rates are falling for the poor, for people over 250K income, those who can accumulate wealth, birth rates are increasing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

You havent looked at the data. Birth rates are falling for the poor, for people over 250K income, those who can accumulate wealth, birth rates are increasing.

The data says that in 2024 the birth rate for a family earning $80k per year is 1.8 and for a family earning $700,000+ is 2.0 (and no...it's not 4.0 for someone earning $500,000). That's really not much.

The highest birth rate (maybe not a surprise) is among the dirt poor (incomes of less than $10,000).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There’s a line between being generous and providing too much. Some of the comments above sound good in theory but perhaps not so good in practice. Plenty of people in their 20s and 30s would have trouble getting out of bed in the morning if they knew that their every financial need will be met regardless of their work efforts. Most of the great artists didn’t come from wealthy backgrounds. Rather, they worked hard and pushed their creativity to support themselves.

You have to know your own kids. My 27 is still highly motivated. Uses our gifts to save more. They didn't want a "luxury" car because that just looks bad for someone their age in the work parking lot. Now their managers know they have parents with money--simply based on the trips they have taken in last 5 years since college graduation (that they have had to request vacation days for). But they don't know our kid flies in business class most of time when we pay or that we paid for their new car.

Kid is still highly motivated to do what they love. They just know they don't have to worry about taking risks.


But if you have an unmotivated kid then don't help them out if it's a deter at to hard work

I’m pretty sure your kid’s coworkers / boss doesn’t know you - their parents - have $ from them requesting PTO days unless your kid is also oversharing their travel plans.

We drop a crap ton on travel annually and nobody knows because we all keep it super high level / vague outside the family convos and we don’t post on socials.

Our kid's first 2 levels of management (bosses) know why they request vacation--they know they are taking 10-14 days trips to Europe/Luxury destinations with their family. They are friends with their TL (first level management) and discuss their trips, etc. In the 5 years of work, our kid has been on 10+ 2 week vacations with family.

Weird. Raised our kids differently. Might be a cultural thing.

So you raised your kids to not be friends with coworkers and their managers? And to be a robot and not discuss their lives at work?

Weird, because we raised our kids to be humans and interact with others. And that means discussing what you did last weekend and what trips you have planned, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There’s a line between being generous and providing too much. Some of the comments above sound good in theory but perhaps not so good in practice. Plenty of people in their 20s and 30s would have trouble getting out of bed in the morning if they knew that their every financial need will be met regardless of their work efforts. Most of the great artists didn’t come from wealthy backgrounds. Rather, they worked hard and pushed their creativity to support themselves.

You have to know your own kids. My 27 is still highly motivated. Uses our gifts to save more. They didn't want a "luxury" car because that just looks bad for someone their age in the work parking lot. Now their managers know they have parents with money--simply based on the trips they have taken in last 5 years since college graduation (that they have had to request vacation days for). But they don't know our kid flies in business class most of time when we pay or that we paid for their new car.

Kid is still highly motivated to do what they love. They just know they don't have to worry about taking risks.


But if you have an unmotivated kid then don't help them out if it's a deter at to hard work

I’m pretty sure your kid’s coworkers / boss doesn’t know you - their parents - have $ from them requesting PTO days unless your kid is also oversharing their travel plans.

We drop a crap ton on travel annually and nobody knows because we all keep it super high level / vague outside the family convos and we don’t post on socials.

Our kid's first 2 levels of management (bosses) know why they request vacation--they know they are taking 10-14 days trips to Europe/Luxury destinations with their family. They are friends with their TL (first level management) and discuss their trips, etc. In the 5 years of work, our kid has been on 10+ 2 week vacations with family.

So no vacations with a significant other or mates? That’s what he needs to spend his money on.

He also takes trips with friends and SO. Those we don't pay for and are in addition to trips with family.

However, most friends are still paying off college loans so trips are shorter weekend trips and rarely require more than 1-2 days off work. Most 26 yo are paying off student loans not traveling the world

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There’s a line between being generous and providing too much. Some of the comments above sound good in theory but perhaps not so good in practice. Plenty of people in their 20s and 30s would have trouble getting out of bed in the morning if they knew that their every financial need will be met regardless of their work efforts. Most of the great artists didn’t come from wealthy backgrounds. Rather, they worked hard and pushed their creativity to support themselves.

You have to know your own kids. My 27 is still highly motivated. Uses our gifts to save more. They didn't want a "luxury" car because that just looks bad for someone their age in the work parking lot. Now their managers know they have parents with money--simply based on the trips they have taken in last 5 years since college graduation (that they have had to request vacation days for). But they don't know our kid flies in business class most of time when we pay or that we paid for their new car.

Kid is still highly motivated to do what they love. They just know they don't have to worry about taking risks.


But if you have an unmotivated kid then don't help them out if it's a deter at to hard work

I’m pretty sure your kid’s coworkers / boss doesn’t know you - their parents - have $ from them requesting PTO days unless your kid is also oversharing their travel plans.

We drop a crap ton on travel annually and nobody knows because we all keep it super high level / vague outside the family convos and we don’t post on socials.

Our kid's first 2 levels of management (bosses) know why they request vacation--they know they are taking 10-14 days trips to Europe/Luxury destinations with their family. They are friends with their TL (first level management) and discuss their trips, etc. In the 5 years of work, our kid has been on 10+ 2 week vacations with family.

So no vacations with a significant other or mates? That’s what he needs to spend his money on.

He also takes trips with friends and SO. Those we don't pay for and are in addition to trips with family.

However, most friends are still paying off college loans so trips are shorter weekend trips and rarely require more than 1-2 days off work. Most 26 yo are paying off student loans not traveling the world

My takeway from this is that your child has a LOT of time off!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There’s a line between being generous and providing too much. Some of the comments above sound good in theory but perhaps not so good in practice. Plenty of people in their 20s and 30s would have trouble getting out of bed in the morning if they knew that their every financial need will be met regardless of their work efforts. Most of the great artists didn’t come from wealthy backgrounds. Rather, they worked hard and pushed their creativity to support themselves.

You have to know your own kids. My 27 is still highly motivated. Uses our gifts to save more. They didn't want a "luxury" car because that just looks bad for someone their age in the work parking lot. Now their managers know they have parents with money--simply based on the trips they have taken in last 5 years since college graduation (that they have had to request vacation days for). But they don't know our kid flies in business class most of time when we pay or that we paid for their new car.

Kid is still highly motivated to do what they love. They just know they don't have to worry about taking risks.


But if you have an unmotivated kid then don't help them out if it's a deter at to hard work

I’m pretty sure your kid’s coworkers / boss doesn’t know you - their parents - have $ from them requesting PTO days unless your kid is also oversharing their travel plans.

We drop a crap ton on travel annually and nobody knows because we all keep it super high level / vague outside the family convos and we don’t post on socials.

Our kid's first 2 levels of management (bosses) know why they request vacation--they know they are taking 10-14 days trips to Europe/Luxury destinations with their family. They are friends with their TL (first level management) and discuss their trips, etc. In the 5 years of work, our kid has been on 10+ 2 week vacations with family.

Weird. Raised our kids differently. Might be a cultural thing.

So you raised your kids to not be friends with coworkers and their managers? And to be a robot and not discuss their lives at work?

Weird, because we raised our kids to be humans and interact with others. And that means discussing what you did last weekend and what trips you have planned, etc.

There’s a pretty clear line between being a normal functioning adult in the workplace vs discussing $100K+ vacations your parents are paying for with your boss and their boss.

[Anonymous]

The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

You havent looked at the data. Birth rates are falling for the poor, for people over 250K income, those who can accumulate wealth, birth rates are increasing.

Absolutely false omg lol. I'm a demographer by the way.

[Anonymous]

Anonymous wrote:The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.

That's it? We are a population of 300 millions n correct?

[Anonymous]

I have two daughters. I truly hope I will have at least 2 grandchildren and I plan to make it as feasible as possible for my kids via money and regular help. People and relationships are really the only things that bring me true happiness.

[Anonymous]

Generational wealth is incredible peace of mind. OP, you’ve got it wrong, once there’s generational wealth, the stress around money is gone. No one stresses over generational wealth.

[Anonymous]

Anonymous wrote:Generational wealth is incredible peace of mind. OP, you’ve got it wrong, once there’s generational wealth, the stress around money is gone. No one stresses over generational wealth.

This. In fact, they haven't stressed about it for generations.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There’s a line between being generous and providing too much. Some of the comments above sound good in theory but perhaps not so good in practice. Plenty of people in their 20s and 30s would have trouble getting out of bed in the morning if they knew that their every financial need will be met regardless of their work efforts. Most of the great artists didn’t come from wealthy backgrounds. Rather, they worked hard and pushed their creativity to support themselves.

You have to know your own kids. My 27 is still highly motivated. Uses our gifts to save more. They didn't want a "luxury" car because that just looks bad for someone their age in the work parking lot. Now their managers know they have parents with money--simply based on the trips they have taken in last 5 years since college graduation (that they have had to request vacation days for). But they don't know our kid flies in business class most of time when we pay or that we paid for their new car.

Kid is still highly motivated to do what they love. They just know they don't have to worry about taking risks.


But if you have an unmotivated kid then don't help them out if it's a deter at to hard work

I’m pretty sure your kid’s coworkers / boss doesn’t know you - their parents - have $ from them requesting PTO days unless your kid is also oversharing their travel plans.

We drop a crap ton on travel annually and nobody knows because we all keep it super high level / vague outside the family convos and we don’t post on socials.

Our kid's first 2 levels of management (bosses) know why they request vacation--they know they are taking 10-14 days trips to Europe/Luxury destinations with their family. They are friends with their TL (first level management) and discuss their trips, etc. In the 5 years of work, our kid has been on 10+ 2 week vacations with family.

Weird. Raised our kids differently. Might be a cultural thing.

So you raised your kids to not be friends with coworkers and their managers? And to be a robot and not discuss their lives at work?

Weird, because we raised our kids to be humans and interact with others. And that means discussing what you did last weekend and what trips you have planned, etc.

I'm so relieved there are still people like you out there, PP. This is what life used to be like before the Me Too movement. OF COURSE you are going to be drawn to coworkers. OF COURSE you're going to share aspects of your lives and do things after work. OF COURSE. Most people are functional human beings who like those around them. Thanks God.

[Anonymous]

Anonymous wrote:Generational wealth is incredible peace of mind. OP, you’ve got it wrong, once there’s generational wealth, the stress around money is gone. No one stresses over generational wealth.

There is always something to stress about. Your health. Your children’s health. Addiction issues. Infidelity. Depression. Anxiety. Complicated lifestyle with competing demands for attention and time. Generational wealth is not protective.

A UMC or less affluent family can live quite well and have a peaceful lifestyle. Wealth moves the goal posts. Suddenly you are stressed if your net worth drops, despite it being high. Your life grows larger with more things to worry about and manage.

Generational wealth is certainly not the pathway to peace of mind, despite what you may tell yourself.