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Reply to "If your family had generational wealth when did it end?"
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[quote=Anonymous]My DH’s family has been wealthy since the 1800s. They were traveling ministers (which meant they were wealthy enough to attend school, read, and write) and graduated from college starting in the early 1800s. They were/are a society family (not sure who cares about this stuff anymore) in the area they have been living for the last 200 years. DH’s great grandfather married a steel magnate’s daughter (the son of the steel magnate left enough money for a family foundation) and some more wealth came into the family that way. But it’s not crazy money - DH and his siblings (and all the grandkids if his generation) got trust funds to pay for college and grad school, but it wouldn’t allow them to not work. His parents likely have millions (they have helped all their kids out with substantial financial support), but who knows. DH and his siblings were all raised with the understanding they needed to make lots of money, and they all have jobs which make seven figures. One has made crazy money in finance (like net worth over $50M and he is just turned 40). So the wealth is going to continue at least one more generation. Interestingly, none of DH’s four first cousins have decent careers. Two will inherit very little (parents squandered), two will inherit a lot but are currently supported by their parent so who knows what will be left for their kids. [/quote]
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