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Reply to "How much is considered generational wealth? "
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[quote=Anonymous][quote=Anonymous]Back to the OP's question, my gut sense is that 5mil per kid in today's dollars would be a generational wealth enough for a "safety net" that they can then maintain or grow to hand down to their next generation. Obviously if they want to blow it, that can easily be done. My hope is that they'll be responsible but I wont be around forever to safeguard that money. My husband and I live on half our income so that we can achieve this. We have a good HHI but no family money. [/quote] My parents left $10,000 to each of my kids around the time each of the kids were born. My kids now have 40 -45K, and they can't draw the last of it until they are 35 (more than 10 more years). Not big numbers but a big help with grad school or a house downpayment. Even though it's not 5 million, I haven't received a dime from my parents (other than payment of some of my college tuition way back when), so I think my kids will have modest generational wealth.[/quote]
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