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Money and Finances
Reply to "Generational wealth. What's behind the obsession?"
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[quote=Anonymous][quote=Anonymous]not in this position myself by goal is for each generation to be in a better spot financially than the one before. I've seen that passing down enough such that later generations don't have to work has led to a lot of issues.[/quote] Even if kids work it leads to issues, because kids who are used to luxury lifestyle often cannot earn nearly as much as to sustain anything similar. So, they dip into their funds to supplement and money disappears. The only families that preserve generational wealth are the ones where kids take over some lucrative family business and grow it, invest well to actually grow money, not just preserve the principal. Among several kids/grandkids you simply cannot preserve wealth, as there will be some who would not succeed in growing or preserving it. It's beyond just working and not living large off trust funds. [/quote]
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